MassMutual Private Wealth & Trust FSB boosted its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 83.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,475 shares of the semiconductor company's stock after buying an additional 17,516 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in Enphase Energy were worth $2,387,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. Siemens Fonds Invest GmbH bought a new stake in shares of Enphase Energy in the 4th quarter valued at about $289,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Enphase Energy in the 4th quarter valued at about $18,580,000. Fourth Dimension Wealth LLC bought a new stake in shares of Enphase Energy in the 4th quarter valued at about $103,000. Voloridge Investment Management LLC bought a new stake in shares of Enphase Energy in the 4th quarter valued at about $32,251,000. Finally, Worldquant Millennium Advisors LLC grew its position in shares of Enphase Energy by 531.4% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company's stock worth $55,342,000 after buying an additional 678,163 shares during the last quarter. Institutional investors own 72.12% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on ENPH. Oppenheimer set a $84.00 price objective on shares of Enphase Energy and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company dropped their target price on shares of Enphase Energy from $75.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Redburn Atlantic initiated coverage on shares of Enphase Energy in a research report on Monday, March 3rd. They set a "neutral" rating on the stock. Morgan Stanley downgraded shares of Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 target price on the stock. in a research report on Wednesday, April 23rd. Finally, Barclays downgraded shares of Enphase Energy from an "overweight" rating to an "underweight" rating and dropped their target price for the stock from $51.00 to $40.00 in a research report on Tuesday, May 13th. Eleven 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.com, the company has an average rating of "Hold" and an average target price of $68.87.
Check Out Our Latest Analysis on Enphase Energy
Enphase Energy Price Performance
NASDAQ:ENPH traded up $1.84 during trading hours on Friday, reaching $41.08. 9,512,146 shares of the company were exchanged, compared to its average volume of 4,427,014. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. The stock's 50-day moving average is $49.64 and its 200-day moving average is $60.34. The firm has a market cap of $5.39 billion, a PE ratio of 55.51 and a beta of 1.80. Enphase Energy, Inc. has a twelve month low of $37.59 and a twelve month high of $141.63.
Insiders Place Their Bets
In other news, CFO Mandy Yang sold 1,319 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the sale, the chief financial officer now directly owns 78,524 shares in the company, valued at $4,972,139.68. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the sale, the director now owns 1,881,760 shares of the company's stock, valued at $115,276,617.60. This trade represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.
About Enphase Energy
(
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.
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