GAMMA Investing LLC Purchases 507,345 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

GAMMA Investing LLC grew its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 10,270.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 512,285 shares of the semiconductor company's stock after purchasing an additional 507,345 shares during the period. GAMMA Investing LLC owned approximately 0.39% of Enphase Energy worth $31,787,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ENPH. Venturi Wealth Management LLC grew its position in Enphase Energy by 318.1% in the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock valued at $46,000 after buying an additional 509 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Enphase Energy in the 4th quarter worth approximately $47,000. GeoWealth Management LLC boosted its holdings in shares of Enphase Energy by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock valued at $61,000 after acquiring an additional 321 shares in the last quarter. Sava Infond d.o.o. bought a new position in shares of Enphase Energy in the fourth quarter valued at approximately $69,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of Enphase Energy during the fourth quarter valued at approximately $96,000. 72.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Enphase Energy

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of the stock in a transaction on Monday, March 10th. The shares were 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 of the company's stock, valued at $4,972,139.68. This represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of Enphase Energy stock in a transaction on Friday, April 25th. The stock was bought at an average cost of $46.35 per share, with a total value of $185,400.00. Following the transaction, the chief executive officer now directly 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 disclosure for this purchase can be found here. Insiders own 3.10% of the company's stock.

Enphase Energy Stock Down 0.3%

Shares of NASDAQ ENPH traded down $0.12 during mid-day trading on Friday, reaching $41.18. The company had a trading volume of 6,989,634 shares, compared to its average volume of 4,492,603. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 55.65 and a beta of 1.69. The stock has a fifty day moving average of $47.71 and a two-hundred day moving average of $59.62. Enphase Energy, Inc. has a 12-month low of $37.59 and a 12-month high of $141.63.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ENPH shares. Redburn Atlantic initiated coverage on Enphase Energy in a research note on Monday, March 3rd. They set a "neutral" rating for the company. Guggenheim restated a "sell" rating and issued a $33.00 price objective on shares of Enphase Energy in a report on Wednesday, April 23rd. Piper Sandler decreased their target price 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. Truist Financial lowered their target price on Enphase Energy from $65.00 to $49.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. Finally, Citigroup dropped their price target on shares of Enphase Energy from $47.00 to $43.00 and set a "sell" rating on the stock in a research report on Thursday. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $68.31.

Enphase Energy Company 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.