Ameriprise Financial Inc. Cuts Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Ameriprise Financial Inc. decreased its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 98.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 113,843 shares of the semiconductor company's stock after selling 10,118,158 shares during the period. Ameriprise Financial Inc. owned approximately 0.08% of Enphase Energy worth $7,814,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. boosted its stake in Enphase Energy by 62.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,349,032 shares of the semiconductor company's stock valued at $92,652,000 after buying an additional 517,989 shares during the period. Aptus Capital Advisors LLC bought a new stake in Enphase Energy during the fourth quarter valued at $213,000. Ardsley Advisory Partners LP bought a new stake in Enphase Energy during the fourth quarter valued at $2,404,000. AXA S.A. lifted its stake in Enphase Energy by 181.0% during the fourth quarter. AXA S.A. now owns 11,385 shares of the semiconductor company's stock worth $782,000 after purchasing an additional 7,334 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in Enphase Energy by 154.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 12,676 shares of the semiconductor company's stock worth $871,000 after purchasing an additional 7,696 shares during the last quarter. Institutional investors own 72.12% of the company's stock.

Enphase Energy Stock Up 1.5%

Shares of ENPH stock traded up $0.58 during midday trading on Tuesday, reaching $40.22. 6,165,489 shares of the stock were exchanged, compared to its average volume of 4,400,971. Enphase Energy, Inc. has a 1 year low of $37.59 and a 1 year high of $141.63. The firm has a market cap of $5.28 billion, a PE ratio of 54.35 and a beta of 1.80. The company's 50 day moving average is $50.98 and its two-hundred day moving average is $60.79. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ENPH. Morgan Stanley lowered Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price target for the company. in a research note on Wednesday, April 23rd. Citigroup reaffirmed a "sell" rating and set a $47.00 price target on shares of Enphase Energy in a research note on Thursday, April 17th. Piper Sandler dropped their price target on Enphase Energy from $47.00 to $42.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Redburn Atlantic began coverage on Enphase Energy in a research note on Monday, March 3rd. They set a "neutral" rating for the company. Finally, Barclays lowered Enphase Energy from an "overweight" rating to an "underweight" rating and dropped their price target for the stock from $51.00 to $40.00 in a research note on Tuesday, May 13th. Eleven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy has a consensus rating of "Hold" and a consensus price target of $68.87.

Insider Transactions at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the firm's stock in a transaction dated Friday, April 25th. The stock was purchased at an average price of $46.35 per share, with a total value of $185,400.00. Following the transaction, the chief executive officer now owns 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the transaction, the chief financial officer now directly owns 78,524 shares of the company's stock, valued at $4,972,139.68. This represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company's stock.

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.