Alps Advisors Inc. Has $4.42 Million Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Alps Advisors Inc. reduced its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 15.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 71,249 shares of the semiconductor company's stock after selling 13,438 shares during the quarter. Alps Advisors Inc. owned about 0.05% of Enphase Energy worth $4,421,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CX Institutional bought a new position in Enphase Energy during the 1st quarter valued at $29,000. First Horizon Advisors Inc. boosted its stake in shares of Enphase Energy by 83.0% during the 1st quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 258 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Enphase Energy during the 4th quarter worth $47,000. GeoWealth Management LLC boosted its stake in shares of Enphase Energy by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock worth $61,000 after acquiring an additional 321 shares in the last quarter. Finally, Sava Infond d.o.o. bought a new stake in shares of Enphase Energy during the 4th quarter worth $69,000. 72.12% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $46.35 per share, with a total value of $185,400.00. Following the completion of the transaction, the chief executive officer directly owned 1,598,696 shares in the company, valued at $74,099,559.60. This represents a 0.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ENPH has been the subject of several research reports. Mizuho set a $53.00 price objective on Enphase Energy and gave the stock an "outperform" rating in a research note on Monday, June 2nd. Piper Sandler reduced their price objective on Enphase Energy from $47.00 to $42.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley lowered Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price objective for the company. in a research note on Wednesday, April 23rd. Citigroup reduced their price objective on Enphase Energy from $47.00 to $43.00 and set a "sell" rating for the company in a research note on Thursday, June 5th. Finally, Wells Fargo & Company reduced their price objective on Enphase Energy from $65.00 to $42.00 and set an "overweight" rating for the company in a research note on Friday, June 20th. Thirteen research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $63.50.

Enphase Energy Stock Performance

ENPH stock traded down $1.12 during trading on Friday, reaching $41.85. 4,967,877 shares of the stock were exchanged, compared to its average volume of 5,019,710. Enphase Energy, Inc. has a twelve month low of $33.01 and a twelve month high of $130.08. The company has a market capitalization of $5.49 billion, a P/E ratio of 38.75 and a beta of 1.67. The stock has a 50 day simple moving average of $42.65 and a 200-day simple moving average of $54.31. The company has a current ratio of 1.90, a quick ratio of 1.77 and a debt-to-equity ratio of 0.70.

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.