Handelsbanken Fonder AB Increases Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Handelsbanken Fonder AB grew its holdings in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 181.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 747,224 shares of the semiconductor company's stock after buying an additional 482,110 shares during the period. Handelsbanken Fonder AB owned 0.56% of Enphase Energy worth $46,365,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction on Friday, April 25th. The stock was purchased at an average cost of $46.35 per share, with a total value of $185,400.00. Following the purchase, the chief executive officer now directly owns 1,598,696 shares in the company, valued at approximately $74,099,559.60. The trade was a 0.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is owned by company insiders.

Enphase Energy Stock Performance

Shares of ENPH stock traded up $0.91 during trading hours on Friday, hitting $45.60. The stock had a trading volume of 6,453,081 shares, compared to its average volume of 4,527,791. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The firm has a market capitalization of $5.98 billion, a PE ratio of 61.62 and a beta of 1.70. The stock's 50 day moving average is $46.51 and its 200 day moving average is $58.90. Enphase Energy, Inc. has a twelve month low of $37.59 and a twelve month high of $131.74.

Analyst Ratings Changes

ENPH has been the topic of several analyst reports. Morgan Stanley lowered shares of Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price target on the stock. in a research report on Wednesday, April 23rd. Barclays lowered Enphase Energy from an "overweight" rating to an "underweight" rating and decreased their price target for the company from $51.00 to $40.00 in a research note on Tuesday, May 13th. BMO Capital Markets reiterated an "underperform" rating and set a $39.00 price target (down from $46.00) on shares of Enphase Energy in a report on Tuesday, May 13th. Citigroup reduced their price objective on shares of Enphase Energy from $47.00 to $43.00 and set a "sell" rating on the stock in a report on Thursday, June 5th. Finally, Truist Financial lowered their target price on shares of Enphase Energy from $65.00 to $49.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. 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, Enphase Energy currently has an average rating of "Hold" and a consensus target price of $68.31.

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.