Enphase Energy, Inc. (NASDAQ:ENPH) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. grew its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 52.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 116,252 shares of the semiconductor company's stock after purchasing an additional 40,243 shares during the period. Edgestream Partners L.P. owned approximately 0.09% of Enphase Energy worth $7,213,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Enphase Energy by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company's stock valued at $1,135,707,000 after purchasing an additional 44,782 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Enphase Energy by 43.4% during 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. Geode Capital Management LLC lifted its holdings in shares of Enphase Energy by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company's stock valued at $234,994,000 after purchasing an additional 47,593 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Enphase Energy by 40.9% during the 4th quarter. Northern Trust Corp now owns 1,668,807 shares of the semiconductor company's stock valued at $114,614,000 after purchasing an additional 484,497 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of Enphase Energy by 29.6% during the 4th quarter. Schroder Investment Management Group now owns 1,451,414 shares of the semiconductor company's stock valued at $99,683,000 after purchasing an additional 331,917 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company's stock.

Enphase Energy Stock Down 0.7%

Shares of ENPH stock traded down $0.29 on Thursday, reaching $38.74. 6,674,950 shares of the stock were exchanged, compared to its average volume of 5,049,267. The company has a current ratio of 1.90, a quick ratio of 1.77 and a debt-to-equity ratio of 0.70. The business's 50 day moving average price is $42.43 and its 200 day moving average price is $53.77. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 35.87 and a beta of 1.67. Enphase Energy, Inc. has a twelve month low of $33.01 and a twelve month high of $130.08.

Insider Activity at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the firm's stock in a transaction on 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 completion of the purchase, the chief executive officer directly owned 1,598,696 shares of the company's stock, valued at approximately $74,099,559.60. The trade was a 0.25% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Mizuho reduced their target price on Enphase Energy from $53.00 to $50.00 and set an "outperform" rating for the company in a research note on Monday. DZ Bank lowered Enphase Energy from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 23rd. Oppenheimer set a $84.00 target price on Enphase Energy and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. Glj Research reduced their target price on Enphase Energy from $50.69 to $31.11 and set a "sell" rating for the company in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. restated 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. Thirteen investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $61.20.

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.