Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its position in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 16.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,265 shares of the semiconductor company's stock after selling 6,714 shares during the period. Envestnet Asset Management Inc.'s holdings in Enphase Energy were worth $2,353,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC boosted its position in shares of Enphase Energy by 318.1% in the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock worth $46,000 after buying an additional 509 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Enphase Energy in the fourth quarter valued at about $47,000. Sava Infond d.o.o. acquired a new stake in shares of Enphase Energy in the fourth quarter valued at approximately $69,000. Avior Wealth Management LLC increased its stake in shares of Enphase Energy by 269.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,045 shares of the semiconductor company's stock worth $72,000 after purchasing an additional 762 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of Enphase Energy during the 4th quarter worth approximately $96,000. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Price Performance

Shares of NASDAQ ENPH traded up $0.24 during midday trading on Thursday, reaching $44.83. 1,315,990 shares of the stock traded hands, compared to its average volume of 4,036,433. The company's 50 day moving average is $56.67 and its 200 day moving average is $66.14. Enphase Energy, Inc. has a one year low of $44.21 and a one year high of $141.63. The stock has a market capitalization of $5.88 billion, a PE ratio of 60.59 and a beta of 1.94. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. On average, equities research analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Insiders Place Their Bets

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the transaction, the director now owns 1,881,760 shares of the company's stock, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the sale, the chief financial officer now directly owns 78,524 shares in the company, valued at approximately $4,972,139.68. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ENPH shares. Guggenheim restated a "sell" rating and issued a $33.00 price objective on shares of Enphase Energy in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their target price on shares of Enphase Energy from $112.00 to $91.00 and set an "overweight" rating on the stock in a research report on Thursday, January 23rd. Canaccord Genuity Group lowered their price target on Enphase Energy from $70.00 to $58.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Morgan Stanley cut shares of Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price target on the stock. in a research report on Wednesday, April 23rd. Finally, Piper Sandler decreased their target price on Enphase Energy from $47.00 to $42.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Seven analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $70.54.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.