Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 15,610,036 Shares of Enphase Energy, Inc. $ENPH

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS nearly exited Enphase Energy in Q1, cutting its stake by 99.8% after selling 15.61 million shares. It ended the quarter with just 32,361 shares valued at about $1.22 million.
• Other institutional investors and hedge funds also adjusted positions in ENPH, and 72.12% of the stock is owned by institutions. Corporate insiders hold 2.90% of shares.
• Enphase Energy reported Q1 earnings of $0.47 per share, topping estimates, though revenue fell 20.6% year over year. Analysts currently have a consensus Hold rating with an average price target of $47.11.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 99.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,361 shares of the semiconductor company's stock after selling 15,610,036 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Enphase Energy were worth $1,224,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ENPH. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Enphase Energy by 431.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company's stock worth $25,000 after buying an additional 514 shares during the last quarter. Glass Jacobson Investment Advisors llc lifted its stake in shares of Enphase Energy by 77.8% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 350 shares during the last quarter. Activest Wealth Management boosted its holdings in shares of Enphase Energy by 52,000.0% during the 4th quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 1,040 shares in the last quarter. Ascentis Independent Advisors acquired a new stake in shares of Enphase Energy during the 1st quarter valued at $33,000. Finally, Danske Bank A S bought a new stake in Enphase Energy during the 3rd quarter worth $39,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Enphase Energy

In other news, Director Shanker Trivedi acquired 1,000 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was purchased at an average price of $53.91 per share, for a total transaction of $53,910.00. Following the completion of the acquisition, the director directly owned 1,000 shares in the company, valued at $53,910. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were bought at an average price of $67.50 per share, for a total transaction of $337,500.00. Following the completion of the purchase, the chief executive officer owned 1,645,632 shares in the company, valued at approximately $111,080,160. This represents a 0.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Oppenheimer lowered their target price on Enphase Energy from $68.00 to $57.00 and set an "outperform" rating for the company in a report on Wednesday, April 29th. Roth Capital restated a "buy" rating on shares of Enphase Energy in a report on Friday, May 22nd. UBS Group set a $85.00 price objective on Enphase Energy in a research note on Friday, May 22nd. Morgan Stanley set a $27.00 price objective on shares of Enphase Energy in a report on Friday, May 8th. Finally, The Goldman Sachs Group lifted their target price on shares of Enphase Energy from $51.00 to $57.00 and gave the stock a "buy" rating in a research report on Wednesday, May 20th. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $47.11.

Enphase Energy Price Performance

Shares of ENPH opened at $41.57 on Friday. The business has a 50-day moving average of $51.92 and a 200-day moving average of $43.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.80 and a quick ratio of 3.20. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of 41.16 and a beta of 1.62. Enphase Energy, Inc. has a 1 year low of $25.77 and a 1 year high of $73.74.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.04. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The business had revenue of $282.90 million during the quarter, compared to the consensus estimate of $282.27 million. During the same quarter in the prior year, the firm posted $0.68 EPS. The company's revenue for the quarter was down 20.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Enphase Energy, Inc. will post 0.82 earnings per share for the current year.

About Enphase Energy

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company's product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.

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