Enphase Energy, Inc. $ENPH Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 31.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 487,939 shares of the semiconductor company's stock after selling 227,853 shares during the period. Bank of America Corp DE owned about 0.37% of Enphase Energy worth $18,449,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Enphase Energy by 431.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 514 shares during the last quarter. Activest Wealth Management lifted its stake in Enphase Energy by 52,000.0% during the fourth quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 1,040 shares during the last quarter. Ascentis Independent Advisors acquired a new position in Enphase Energy in the first quarter valued at approximately $33,000. Danske Bank A S acquired a new position in Enphase Energy in the third quarter valued at approximately $39,000. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Enphase Energy in the fourth quarter valued at approximately $45,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on ENPH shares. Evercore reaffirmed a "positive" rating and issued a $41.00 target price on shares of Enphase Energy in a research report on Monday. TD Cowen reduced their price target on shares of Enphase Energy from $70.00 to $48.00 and set a "hold" rating for the company in a research report on Monday, July 20th. The Goldman Sachs Group upped their price objective on shares of Enphase Energy from $51.00 to $57.00 and gave the company a "buy" rating in a research note on Wednesday, May 20th. Citigroup dropped their price objective on Enphase Energy from $43.00 to $40.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Finally, Susquehanna cut their target price on Enphase Energy from $45.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, July 30th. Nine investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $45.79.

Insiders Place Their Bets

In related news, Director Richard Mora sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $36.76, for a total value of $73,520.00. Following the sale, the director owned 11,922 shares in the company, valued at $438,252.72. This represents a 14.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Shanker Trivedi acquired 1,000 shares of the company's stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average cost of $53.91 per share, with a total value of $53,910.00. Following the completion of the purchase, the director directly owned 1,000 shares in the company, valued at $53,910. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders sold 4,200 shares of company stock worth $179,000. 2.90% of the stock is owned by corporate insiders.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $39.37 on Thursday. The stock's 50-day moving average price is $43.47 and its 200 day moving average price is $44.07. The company has a quick ratio of 2.95, a current ratio of 3.45 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $5.20 billion, a PE ratio of 39.37 and a beta of 1.64. Enphase Energy, Inc. has a 52-week low of $25.77 and a 52-week high of $73.74.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). The company had revenue of $291.85 million for the quarter, compared to analysts' expectations of $289.76 million. Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%.Enphase Energy's revenue for the quarter was down 19.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 EPS. As a group, equities research analysts forecast that Enphase Energy, Inc. will post 0.76 EPS 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.

Want to see what other hedge funds are holding ENPH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enphase Energy, Inc. (NASDAQ:ENPH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source