Abacus FCF Advisors LLC boosted its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 376.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,171 shares of the semiconductor company's stock after acquiring an additional 57,817 shares during the period. Abacus FCF Advisors LLC owned 0.06% of Enphase Energy worth $4,540,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in ENPH. Entropy Technologies LP bought a new stake in Enphase Energy in the fourth quarter valued at $897,000. Newbridge Financial Services Group Inc. boosted its position in Enphase Energy by 49.9% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,604 shares of the semiconductor company's stock valued at $248,000 after acquiring an additional 1,199 shares in the last quarter. Summit Trail Advisors LLC bought a new stake in Enphase Energy during the 4th quarter valued at approximately $206,000. Asset Management One Co. Ltd. boosted its position in Enphase Energy by 18.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 65,310 shares of the semiconductor company's stock valued at $4,711,000 after acquiring an additional 10,398 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its position in Enphase Energy by 53.4% during the 4th quarter. Vontobel Holding Ltd. now owns 91,749 shares of the semiconductor company's stock valued at $6,301,000 after acquiring an additional 31,954 shares in the last quarter. Institutional investors own 72.12% of the company's stock.
Insider Buying and Selling at Enphase Energy
In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction dated Friday, April 25th. The shares were purchased at an average price of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,598,696 shares in the company, valued at approximately $74,099,559.60. This represents a 0.25% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.10% of the company's stock.
Enphase Energy Stock Performance
Enphase Energy stock traded up $0.91 during trading on Friday, reaching $45.60. The company had a trading volume of 6,453,081 shares, compared to its average volume of 4,527,791. Enphase Energy, Inc. has a 52 week low of $37.59 and a 52 week high of $131.74. The firm's 50-day simple moving average is $46.51 and its 200 day simple moving average is $58.90. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 61.62 and a beta of 1.70. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44.
Analysts Set New Price Targets
ENPH has been the topic of a number of research reports. Barclays cut shares of Enphase Energy from an "overweight" rating to an "underweight" rating and dropped their target price for the company from $51.00 to $40.00 in a report on Tuesday, May 13th. Royal Bank of Canada restated a "sector perform" rating and set a $54.00 target price (down previously from $59.00) on shares of Enphase Energy in a report on Wednesday, April 23rd. Guggenheim restated a "sell" rating and set a $33.00 target price on shares of Enphase Energy in a report on Wednesday, April 23rd. Susquehanna dropped their price target on Enphase Energy from $59.00 to $51.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group dropped their price target on Enphase Energy from $90.00 to $77.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Enphase Energy presently has a consensus rating of "Hold" and an average price target of $68.31.
Check Out Our Latest Stock Report on Enphase Energy
About Enphase Energy
(
Free Report)
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.
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