Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ cut its holdings in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 42.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,922 shares of the semiconductor company's stock after selling 25,522 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Enphase Energy were worth $2,105,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Phoenix Financial Ltd. raised its stake in Enphase Energy by 73.3% in the first quarter. Phoenix Financial Ltd. now owns 358,600 shares of the semiconductor company's stock valued at $22,256,000 after buying an additional 151,726 shares in the last quarter. Baillie Gifford & Co. raised its stake in Enphase Energy by 32.0% in the first quarter. Baillie Gifford & Co. now owns 11,052,357 shares of the semiconductor company's stock valued at $685,799,000 after buying an additional 2,680,567 shares in the last quarter. Pacer Advisors Inc. raised its stake in Enphase Energy by 70.2% in the first quarter. Pacer Advisors Inc. now owns 58,727 shares of the semiconductor company's stock valued at $3,644,000 after buying an additional 24,213 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Enphase Energy in the first quarter valued at $2,090,000. Finally, Cetera Investment Advisers raised its stake in Enphase Energy by 11.8% in the first quarter. Cetera Investment Advisers now owns 20,928 shares of the semiconductor company's stock valued at $1,299,000 after buying an additional 2,202 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ENPH shares. Morgan Stanley cut Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price target on the stock. in a research note on Wednesday, April 23rd. Oppenheimer cut their price target on Enphase Energy from $86.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. TD Cowen cut their price target on Enphase Energy from $45.00 to $40.00 and set a "hold" rating on the stock in a research note on Wednesday, July 23rd. Guggenheim restated a "sell" rating and issued a $33.00 price target on shares of Enphase Energy in a research note on Wednesday, April 23rd. Finally, BNP Paribas Exane lowered Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price objective on the stock. in a report on Tuesday, May 13th. Thirteen analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $55.86.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $34.95 on Tuesday. The company has a quick ratio of 1.82, a current ratio of 1.97 and a debt-to-equity ratio of 0.65. Enphase Energy, Inc. has a 52-week low of $33.01 and a 52-week high of $130.08. The business's 50-day moving average price is $40.68 and its 200 day moving average price is $51.73. The firm has a market cap of $4.57 billion, a P/E ratio of 27.30 and a beta of 1.67.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. Enphase Energy had a return on equity of 24.55% and a net margin of 11.78%. The company had revenue of $363.15 million for the quarter, compared to analyst estimates of $359.14 million. During the same quarter in the previous year, the company earned $0.43 EPS. The firm's revenue for the quarter was up 19.7% compared to the same quarter last year. On average, equities research analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

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.

Want to see what other hedge funds are holding ENPH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enphase Energy, Inc. (NASDAQ:ENPH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.