Janney Montgomery Scott LLC grew its holdings in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 248.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,557 shares of the semiconductor company's stock after purchasing an additional 10,377 shares during the period. Janney Montgomery Scott LLC's holdings in Enphase Energy were worth $903,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Invesco Ltd. lifted its stake in shares of Enphase Energy by 43.4% in the 4th quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company's stock valued at $313,034,000 after purchasing an additional 1,378,978 shares during the last quarter. Worldquant Millennium Advisors LLC increased its holdings in shares of Enphase Energy by 531.4% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company's stock valued at $55,342,000 after acquiring an additional 678,163 shares during the last quarter. Norges Bank bought a new position in shares of Enphase Energy in the 4th quarter valued at approximately $46,339,000. Alyeska Investment Group L.P. lifted its holdings in Enphase Energy by 62.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,349,032 shares of the semiconductor company's stock worth $92,652,000 after purchasing an additional 517,989 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Enphase Energy by 10,270.1% in the 1st quarter. GAMMA Investing LLC now owns 512,285 shares of the semiconductor company's stock worth $31,787,000 after purchasing an additional 507,345 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the business's stock in a transaction on Friday, April 25th. The stock was purchased at an average price of $46.35 per share, for a total transaction of $185,400.00. Following the transaction, the chief executive officer owned 1,598,696 shares in the company, valued at $74,099,559.60. This trade 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. 3.10% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. BNP Paribas Exane lowered shares of Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price target on the stock. in a research report on Tuesday, May 13th. Mizuho set a $53.00 target price on shares of Enphase Energy and gave the stock an "outperform" rating in a research report on Monday, June 2nd. Royal Bank Of Canada set a $28.00 price target on Enphase Energy and gave the company a "sector perform" rating in a research report on Wednesday, June 18th. Morgan Stanley lowered Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price objective on the stock. in a research note on Wednesday, April 23rd. Finally, TD Cowen decreased their target price on Enphase Energy from $78.00 to $58.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Twelve research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Enphase Energy presently has an average rating of "Hold" and a consensus price target of $65.44.
Get Our Latest Stock Report on ENPH
Enphase Energy Stock Performance
NASDAQ:ENPH opened at $39.65 on Tuesday. The stock has a market capitalization of $5.20 billion, a P/E ratio of 36.71 and a beta of 1.70. The company has a current ratio of 1.90, a quick ratio of 1.77 and a debt-to-equity ratio of 0.70. Enphase Energy, Inc. has a 1 year low of $33.01 and a 1 year high of $130.08. The firm has a 50 day moving average of $43.49 and a 200-day moving average of $56.04.
Enphase Energy Profile
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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.
Further Reading
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