New York State Teachers Retirement System Has $6.48 Million Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

New York State Teachers Retirement System reduced its position in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,390 shares of the semiconductor company's stock after selling 8,905 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of Enphase Energy worth $6,477,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prakash Investment Advisors LLC lifted its position in Enphase Energy by 75.7% in the first quarter. Prakash Investment Advisors LLC now owns 13,000 shares of the semiconductor company's stock worth $807,000 after purchasing an additional 5,600 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Enphase Energy by 523.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 67,401 shares of the semiconductor company's stock worth $4,205,000 after purchasing an additional 56,586 shares during the period. Lecap Asset Management Ltd. bought a new position in Enphase Energy in the first quarter worth $1,382,000. Oppenheimer & Co. Inc. lifted its position in Enphase Energy by 94.2% in the first quarter. Oppenheimer & Co. Inc. now owns 20,703 shares of the semiconductor company's stock worth $1,285,000 after purchasing an additional 10,041 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Enphase Energy by 38.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,188 shares of the semiconductor company's stock worth $1,129,000 after purchasing an additional 5,070 shares during the period. 72.12% of the stock is owned by institutional investors.

Enphase Energy Trading Up 3.7%

Shares of Enphase Energy stock traded up $1.51 during trading on Friday, hitting $42.48. 7,032,143 shares of the company were exchanged, compared to its average volume of 4,962,537. The firm has a market capitalization of $5.57 billion, a P/E ratio of 39.33 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 firm's fifty day moving average price is $43.00 and its 200 day moving average price is $55.32. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.90 and a quick ratio of 1.77.

Insider Activity

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer owned 1,598,696 shares of the company's stock, valued at $74,099,559.60. This trade represents a 0.25% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ENPH. BNP Paribas cut Enphase Energy from an "outperform" rating to an "underperform" rating in a report on Tuesday, May 13th. KeyCorp reissued an "underweight" rating and set a $31.00 price objective on shares of Enphase Energy in a report on Tuesday, June 17th. Mizuho set a $53.00 price objective on Enphase Energy and gave the company an "outperform" rating in a report on Monday, June 2nd. Barclays cut Enphase Energy from an "overweight" rating to an "underweight" rating and cut their price objective for the company from $51.00 to $40.00 in a report on Tuesday, May 13th. Finally, Wells Fargo & Company cut their price target on Enphase Energy from $65.00 to $42.00 and set an "overweight" rating for the company in a report on Friday, June 20th. Twelve equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $65.44.

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.