Enphase Energy, Inc. (NASDAQ:ENPH) Shares Purchased by Man Group plc

Man Group plc raised its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 97.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,692 shares of the semiconductor company's stock after buying an additional 6,749 shares during the quarter. Man Group plc's holdings in Enphase Energy were worth $940,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ENPH. Baillie Gifford & Co. grew its holdings in shares of Enphase Energy by 32.0% in the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company's stock valued at $574,975,000 after purchasing an additional 2,028,691 shares during the period. Invesco Ltd. grew 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 purchasing an additional 1,378,978 shares during the period. Norges Bank purchased a new stake in shares of Enphase Energy in the fourth quarter valued at about $46,339,000. Alyeska Investment Group L.P. grew its holdings in shares of Enphase Energy by 62.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,349,032 shares of the semiconductor company's stock valued at $92,652,000 after purchasing an additional 517,989 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of 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 period. Hedge funds and other institutional investors own 72.12% of the company's stock.

Enphase Energy Stock Up 1.8%

Shares of ENPH stock traded up $0.69 during trading hours on Thursday, reaching $39.65. 1,938,914 shares of the stock were exchanged, compared to its average volume of 4,392,949. The firm has a market capitalization of $5.20 billion, a P/E ratio of 53.59 and a beta of 1.80. Enphase Energy, Inc. has a 12-month low of $37.59 and a 12-month high of $141.63. 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 business's fifty day moving average is $50.53 and its two-hundred day moving average is $60.64.

Insider Buying and Selling at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the firm's stock in a transaction that occurred 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 completion of the acquisition, the chief executive officer now directly owns 1,598,696 shares in the company, valued at $74,099,559.60. This trade represents a 0.25% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the sale, the director now directly owns 1,881,760 shares of the company's stock, valued at approximately $115,276,617.60. This represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Truist Financial dropped their price objective on shares of Enphase Energy from $65.00 to $49.00 and set a "hold" rating for the company in a report on Thursday, April 24th. BMO Capital Markets reissued an "underperform" rating and issued a $39.00 price objective (down previously from $46.00) on shares of Enphase Energy in a report on Tuesday, May 13th. BNP Paribas cut shares of Enphase Energy from an "outperform" rating to an "underperform" rating in a research report on Tuesday, May 13th. Canaccord Genuity Group decreased their target price 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, Craig Hallum decreased their target price on shares of Enphase Energy from $123.00 to $101.00 and set a "buy" rating on the stock in a research report on Wednesday, February 5th. Eleven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $68.87.

About Enphase Energy

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.