Handelsbanken Fonder AB Boosts Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Handelsbanken Fonder AB lifted its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 181.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 747,224 shares of the semiconductor company's stock after purchasing an additional 482,110 shares during the period. Handelsbanken Fonder AB owned 0.56% of Enphase Energy worth $46,365,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Venturi Wealth Management LLC raised its position in Enphase Energy by 318.1% in the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock worth $46,000 after acquiring an additional 509 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new stake in Enphase Energy in the fourth quarter worth about $47,000. GeoWealth Management LLC raised its position in Enphase Energy by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock worth $61,000 after acquiring an additional 321 shares during the period. Sava Infond d.o.o. bought a new stake in Enphase Energy in the fourth quarter worth about $69,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Enphase Energy in the fourth quarter worth about $96,000. 72.12% of the stock is owned by institutional investors.

Enphase Energy Stock Up 0.4%

NASDAQ:ENPH traded up $0.20 on Wednesday, reaching $45.28. 3,955,157 shares of the stock traded hands, compared to its average volume of 4,517,600. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 61.19 and a beta of 1.70. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. Enphase Energy, Inc. has a 12 month low of $37.59 and a 12 month high of $141.63. The company's fifty day simple moving average is $46.81 and its 200 day simple moving average is $59.26.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. BNP Paribas lowered shares of Enphase Energy from an "outperform" rating to an "underperform" rating in a research report on Tuesday, May 13th. BNP Paribas Exane lowered shares of Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price objective on the stock. in a research report on Tuesday, May 13th. The Goldman Sachs Group lowered 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 report on Wednesday, April 23rd. Morgan Stanley lowered shares of Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price objective on the stock. in a research report on Wednesday, April 23rd. Finally, TD Cowen reduced their target price on shares of Enphase Energy from $78.00 to $58.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $68.31.

Insider Buying and Selling at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the company's stock in a transaction dated Friday, April 25th. The shares were purchased 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 directly owns 1,598,696 shares in the company, valued at $74,099,559.60. The trade was a 0.25% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is owned by company insiders.

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.