Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by LGT Group Foundation

Key Points

• LGT Group Foundation has decreased its stake in Enphase Energy by 35.5%, selling 17,148 shares during the first quarter, now holding a total of 31,140 shares valued at approximately $1.93 million.
• Several institutional investors have recently adjusted their positions, with Maxi Investments CY Ltd raising its stake by 650%, now owning 52,500 shares worth about $3.26 million.
• Wall Street analysts have mixed views on Enphase Energy, with a consensus rating of "Hold" and a price target averaging $55.22, reflecting various recent adjustments in price objectives from different firms.

LGT Group Foundation trimmed its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 35.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,140 shares of the semiconductor company's stock after selling 17,148 shares during the period. LGT Group Foundation's holdings in Enphase Energy were worth $1,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its stake in shares of Enphase Energy by 4.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 90,379 shares of the semiconductor company's stock valued at $6,208,000 after purchasing an additional 3,534 shares in the last quarter. Cohen & Steers Inc. boosted its stake in shares of Enphase Energy by 12.9% during the fourth quarter. Cohen & Steers Inc. now owns 29,246 shares of the semiconductor company's stock valued at $2,009,000 after purchasing an additional 3,350 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Enphase Energy in the 4th quarter worth approximately $964,000. Canada Post Corp Registered Pension Plan purchased a new position in shares of Enphase Energy in the 4th quarter worth approximately $109,000. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of Enphase Energy in the 4th quarter worth approximately $932,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average price of $30.82 per share, for a total transaction of $154,100.00. Following the transaction, the chief executive officer directly owned 1,620,632 shares of the company's stock, valued at approximately $49,947,878.24. This represents a 0.31% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Guggenheim reaffirmed a "sell" rating and issued a $33.00 price objective on shares of Enphase Energy in a research report on Wednesday, April 23rd. Royal Bank Of Canada set a $28.00 price objective on shares of Enphase Energy and gave the stock a "sector perform" rating in a research report on Wednesday, June 18th. Citigroup cut their price objective 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, June 5th. Canaccord Genuity Group cut their price objective on shares of 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, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $37.00 price objective (down previously from $64.00) on shares of Enphase Energy in a research report on Tuesday, July 15th. Thirteen investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $55.22.

Enphase Energy Stock Performance

Shares of NASDAQ ENPH traded down $2.00 during midday trading on Thursday, reaching $32.22. 10,114,654 shares of the stock were exchanged, compared to its average volume of 9,194,510. Enphase Energy, Inc. has a twelve month low of $29.89 and a twelve month high of $130.08. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 25.17 and a beta of 1.59. The company has a quick ratio of 1.82, a current ratio of 1.97 and a debt-to-equity ratio of 0.65. The firm has a 50-day simple moving average of $38.25 and a two-hundred day simple moving average of $49.06.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. Enphase Energy had a return on equity of 24.55% and a net margin of 11.78%. The firm had revenue of $363.15 million for the quarter, compared to analyst estimates of $359.14 million. During the same quarter last year, the firm posted $0.43 EPS. The business's revenue was up 19.7% on a year-over-year basis. As a group, analysts anticipate that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

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.