Hartline Investment Corp Has $1.23 Million Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Hartline Investment Corp cut its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 23.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,790 shares of the semiconductor company's stock after selling 6,176 shares during the period. Hartline Investment Corp's holdings in Enphase Energy were worth $1,228,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its holdings in shares of Enphase Energy by 83.0% in the 1st quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock valued at $35,000 after acquiring an additional 258 shares in the last quarter. Leibman Financial Services Inc. grew its holdings in shares of Enphase Energy by 1.0% in the 1st quarter. Leibman Financial Services Inc. now owns 29,474 shares of the semiconductor company's stock valued at $1,829,000 after acquiring an additional 305 shares in the last quarter. McGowan Group Asset Management Inc. grew its holdings in shares of Enphase Energy by 2.0% in the 4th quarter. McGowan Group Asset Management Inc. now owns 16,670 shares of the semiconductor company's stock valued at $1,145,000 after acquiring an additional 319 shares in the last quarter. GeoWealth Management LLC grew its holdings in shares of Enphase Energy by 56.3% in the 4th 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. Finally, Norinchukin Bank The grew its holdings in shares of Enphase Energy by 6.0% in the 4th quarter. Norinchukin Bank The now owns 5,754 shares of the semiconductor company's stock valued at $395,000 after acquiring an additional 328 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the stock in a transaction on Friday, April 25th. The stock was acquired at an average cost of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the transaction, the chief executive officer directly owned 1,598,696 shares in the company, valued at approximately $74,099,559.60. This trade represents a 0.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ENPH has been the subject of several analyst reports. TD Cowen decreased their price objective on Enphase Energy from $78.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Royal Bank Of Canada set a $28.00 price target on Enphase Energy and gave the stock a "sector perform" rating in a report on Wednesday, June 18th. DZ Bank cut Enphase Energy from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 23rd. The Goldman Sachs Group reduced their price target on Enphase Energy from $90.00 to $77.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, BMO Capital Markets reiterated an "underperform" rating and set a $39.00 price target (down previously from $46.00) on shares of Enphase Energy in a report on Tuesday, May 13th. Twelve 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $65.44.

Enphase Energy Price Performance

Shares of NASDAQ ENPH traded up $1.51 during midday trading on Friday, reaching $42.48. The company's stock had a trading volume of 7,032,143 shares, compared to its average volume of 4,954,120. Enphase Energy, Inc. has a fifty-two week low of $33.01 and a fifty-two week high of $130.08. The company has a market cap of $5.57 billion, a P/E ratio of 39.33 and a beta of 1.67. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.77 and a current ratio of 1.90. The business's 50 day moving average price is $43.00 and its two-hundred day moving average price is $55.41.

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.