Choreo LLC Has $16.80 Million Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Choreo LLC lowered its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 7.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,694 shares of the semiconductor company's stock after selling 21,015 shares during the period. Choreo LLC owned 0.21% of Enphase Energy worth $16,797,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ENPH. CX Institutional purchased a new position in Enphase Energy during the first quarter worth about $29,000. First Horizon Advisors Inc. boosted its stake in Enphase Energy by 83.0% in the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock valued at $35,000 after acquiring an additional 258 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Enphase Energy during the 4th quarter valued at approximately $47,000. GeoWealth Management LLC grew its position 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 valued at $61,000 after acquiring an additional 321 shares during the period. Finally, Sava Infond d.o.o. bought a new position in shares of Enphase Energy during the 4th quarter valued at approximately $69,000. Institutional investors own 72.12% of the company's stock.

Insiders Place Their Bets

In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the business's stock in a transaction dated Friday, April 25th. The stock was bought at an average price of $46.35 per share, for a total transaction of $185,400.00. Following the purchase, the chief executive officer owned 1,598,696 shares in the company, valued at $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 accessible through this hyperlink. 3.10% of the stock is currently owned by company insiders.

Enphase Energy Stock Up 4.2%

ENPH traded up $1.67 during trading hours on Tuesday, hitting $41.33. 2,830,810 shares of the company's stock were exchanged, compared to its average volume of 5,075,523. Enphase Energy, Inc. has a 1-year low of $33.01 and a 1-year high of $130.08. The stock's 50-day moving average is $42.00 and its two-hundred day moving average is $53.12. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 38.17 and a beta of 1.67. The company has a quick ratio of 1.77, a current ratio of 1.90 and a debt-to-equity ratio of 0.70.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ENPH shares. Guggenheim reissued a "sell" rating and set a $33.00 price objective on shares of Enphase Energy in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $37.00 target price (down previously from $64.00) on shares of Enphase Energy in a research note on Tuesday, July 15th. Royal Bank Of Canada set a $28.00 target price on shares of Enphase Energy and gave the stock a "sector perform" rating in a research note on Wednesday, June 18th. Canaccord Genuity Group lowered their price objective on shares of Enphase Energy from $70.00 to $58.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, KeyCorp reissued an "underweight" rating and issued a $31.00 price objective on shares of Enphase Energy in a research note on Tuesday, June 17th. Thirteen analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $60.46.

Enphase Energy Profile

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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