Kayne Anderson Capital Advisors LP reduced its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 21.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,747 shares of the semiconductor company's stock after selling 14,279 shares during the quarter. Kayne Anderson Capital Advisors LP's holdings in Enphase Energy were worth $3,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Enphase Energy by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company's stock worth $1,135,707,000 after buying an additional 44,782 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Enphase Energy by 43.4% in the fourth quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company's stock valued at $313,034,000 after acquiring an additional 1,378,978 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Enphase Energy by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company's stock valued at $234,994,000 after acquiring an additional 47,593 shares in the last quarter. Northern Trust Corp grew its stake in Enphase Energy by 40.9% in the fourth quarter. Northern Trust Corp now owns 1,668,807 shares of the semiconductor company's stock valued at $114,614,000 after purchasing an additional 484,497 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in Enphase Energy by 29.6% in the fourth quarter. Schroder Investment Management Group now owns 1,451,414 shares of the semiconductor company's stock valued at $99,683,000 after purchasing an additional 331,917 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.
Enphase Energy Price Performance
Enphase Energy stock traded up $2.84 during trading hours on Tuesday, hitting $42.50. The stock had a trading volume of 17,903,032 shares, compared to its average volume of 5,132,217. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.90 and a quick ratio of 1.77. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 39.35 and a beta of 1.67. Enphase Energy, Inc. has a 1-year low of $33.01 and a 1-year high of $130.08. The stock's fifty day moving average is $42.00 and its two-hundred day moving average is $53.12.
Insider Transactions at Enphase Energy
In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction dated Friday, April 25th. The shares were acquired at an average cost of $46.35 per share, with a total value of $185,400.00. Following the purchase, the chief executive officer directly owned 1,598,696 shares of the company's stock, valued at approximately $74,099,559.60. This trade represents a 0.25% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.10% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently weighed in on ENPH. Glj Research dropped their price target on Enphase Energy from $31.11 to $19.80 and set a "sell" rating on the stock in a research note on Tuesday. Morgan Stanley downgraded Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 target price for the company. in a report on Wednesday, April 23rd. DZ Bank lowered Enphase Energy from a "hold" rating to a "strong sell" rating in a research report on Wednesday, April 23rd. Canaccord Genuity Group dropped their target price on Enphase Energy from $70.00 to $58.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group reiterated a "sell" rating and issued a $32.00 target price (down previously from $77.00) on shares of Enphase Energy in a research report on Wednesday, July 9th. Thirteen equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $60.46.
Read Our Latest Analysis on Enphase Energy
About Enphase Energy
(
Free Report)
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.
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