Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 98.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,843 shares of the semiconductor company's stock after selling 10,118,158 shares during the quarter. Ameriprise Financial Inc. owned about 0.08% of Enphase Energy worth $7,814,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Enphase Energy by 0.3% in 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 acquiring an additional 44,782 shares in the last quarter. Baillie Gifford & Co. raised its stake in Enphase Energy by 32.0% during the 4th quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company's stock valued at $574,975,000 after purchasing an additional 2,028,691 shares during the last quarter. Invesco Ltd. boosted its stake in Enphase Energy by 43.4% during the fourth quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company's stock worth $313,034,000 after buying an additional 1,378,978 shares in the last quarter. Geode Capital Management LLC boosted its stake in Enphase Energy by 1.4% in 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 buying an additional 47,593 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Enphase Energy by 40.9% in the 4th quarter. Northern Trust Corp now owns 1,668,807 shares of the semiconductor company's stock worth $114,614,000 after acquiring an additional 484,497 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company's stock.

Insider Activity

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the transaction, the chief financial officer now directly owns 78,524 shares in the company, valued at $4,972,139.68. This trade represents a 1.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the firm's stock in a transaction dated Friday, April 25th. The shares were acquired at an average price of $46.35 per share, with a total value of $185,400.00. Following the acquisition, the chief executive officer now owns 1,598,696 shares in the company, valued at approximately $74,099,559.60. The trade was a 0.25% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.10% of the company's stock.

Enphase Energy Trading Up 1.0%

ENPH traded up $0.38 on Tuesday, hitting $40.02. The company had a trading volume of 1,045,297 shares, compared to its average volume of 4,382,518. Enphase Energy, Inc. has a 12-month low of $37.59 and a 12-month high of $141.63. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. The business's fifty day simple moving average is $51.41 and its 200 day simple moving average is $60.93. The company has a market cap of $5.25 billion, a PE ratio of 54.06 and a beta of 1.80.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ENPH. The Goldman Sachs Group reduced their price objective on shares of Enphase Energy from $90.00 to $77.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Glj Research cut their target price on shares of Enphase Energy from $50.69 to $31.11 and set a "sell" rating for the company in a research note on Friday, April 25th. Barclays downgraded shares of Enphase Energy from an "overweight" rating to an "underweight" rating and cut their price objective for the company from $51.00 to $40.00 in a report on Tuesday, May 13th. Piper Sandler decreased their price target on Enphase Energy from $47.00 to $42.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $54.00 price objective (down previously from $59.00) on shares of Enphase Energy in a report on Wednesday, April 23rd. Eleven investment 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 MarketBeat.com, Enphase Energy has a consensus rating of "Hold" and a consensus price target of $68.87.

Enphase Energy Profile

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.