36,340 Shares in Enphase Energy, Inc. $ENPH Purchased by Compass Financial Management LLC

Key Points

• Compass Financial Management opened a position in Enphase Energy, buying 36,340 shares worth approximately $1.2 million in the third quarter. Institutional investors collectively own 72.12% of the company.
• Analysts have turned more cautious: Enphase has a consensus “Hold” rating and an average price target of $35.11, following several rating and target cuts.
• Enphase shares opened at $28.97, down 8.2%; its latest quarterly results missed earnings and revenue expectations, with revenue falling 28.5% year over year.

Compass Financial Management LLC bought a new stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 36,340 shares of the semiconductor company's stock, valued at approximately $1,199,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hollow Brook Wealth Management LLC acquired a new position in Enphase Energy in the third quarter worth about $330,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Enphase Energy during the third quarter worth about $1,650,000. ProShare Advisors LLC boosted its holdings in Enphase Energy by 32.7% during the third quarter. ProShare Advisors LLC now owns 20,437 shares of the semiconductor company's stock valued at $674,000 after purchasing an additional 5,037 shares in the last quarter. State of Wyoming bought a new stake in shares of Enphase Energy in the 3rd quarter valued at approximately $52,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of Enphase Energy by 33.0% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 28,600 shares of the semiconductor company's stock valued at $944,000 after purchasing an additional 7,100 shares during the period. 72.12% of the stock is owned by institutional investors.

Insider Transactions at Enphase Energy

In other news, Director Richard Mora sold 1,500 shares of the firm's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $40.36, for a total value of $60,540.00. Following the completion of the sale, the director directly owned 10,422 shares in the company, valued at approximately $420,631.92. This trade represents a 12.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Badrinarayanan Kothandaraman bought 10,000 shares of the stock in a transaction dated Monday, November 2nd. The stock was acquired at an average price of $26.75 per share, with a total value of $267,500.00. Following the completion of the purchase, the chief executive officer owned 1,655,632 shares of the company's stock, valued at $44,288,156. This represents a 0.61% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 2.90% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ENPH shares. Weiss Ratings downgraded Enphase Energy from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, October 28th. Oppenheimer cut Enphase Energy from an "outperform" rating to a "market perform" rating in a research report on Wednesday, October 28th. JPMorgan Chase & Co. dropped their price objective on Enphase Energy from $35.00 to $29.00 and set a "neutral" rating for the company in a research note on Wednesday, October 28th. Roth Capital lowered Enphase Energy from a "buy" rating to a "neutral" rating and set a $30.00 price objective for the company. in a research note on Wednesday, October 28th. Finally, Sanford C. Bernstein cut their price objective on Enphase Energy from $56.00 to $40.00 and set a "market perform" rating for the company in a report on Wednesday, October 28th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $35.11.

Enphase Energy Stock Down 8.2%

NASDAQ ENPH opened at $28.97 on Friday. The firm has a market cap of $3.83 billion, a PE ratio of 43.24 and a beta of 1.44. Enphase Energy, Inc. has a one year low of $23.83 and a one year high of $73.74. The stock's 50 day simple moving average is $32.97 and its 200 day simple moving average is $40.84. The company has a debt-to-equity ratio of 0.46, a current ratio of 4.09 and a quick ratio of 3.56.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The semiconductor company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). Enphase Energy had a net margin of 7.49% and a return on equity of 9.16%. The business had revenue of $293.33 million for the quarter, compared to analyst estimates of $304.59 million. During the same period in the prior year, the business earned $0.90 earnings per share. The company's revenue for the quarter was down 28.5% on a year-over-year basis. As a group, sell-side analysts forecast that Enphase Energy, Inc. will post 0.34 earnings per share for the current fiscal year.

Enphase Energy Company Profile

Enphase Energy, Inc develops and manufactures technology for residential and commercial solar energy systems. Its products include solar microinverters, which convert electricity generated by individual solar panels into usable power, along with integrated energy management technologies designed to improve system performance, monitoring and reliability.

The company also offers battery storage systems, electric vehicle chargers and software that enables customers, installers and utilities to monitor and manage distributed energy resources.

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