Nordea Investment Management AB Has $465,000 Position in Enphase Energy, Inc. $ENPH

Key Points

• Nordea Investment Management AB significantly reduced its stake in Enphase Energy, cutting its holdings by 99.5%, resulting in ownership of 11,802 shares valued at $465,000.
• CEO Badrinarayanan Kothandaraman purchased 5,000 shares of Enphase Energy, increasing his position by 0.31% and bringing his total holdings to approximately $49.95 million.
• Analysts have mixed ratings for Enphase Energy, with price targets ranging from $30.00 to $73.00, reflecting varied outlooks amidst declining stock performance.

Nordea Investment Management AB lowered its holdings in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 99.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,802 shares of the semiconductor company's stock after selling 2,607,562 shares during the quarter. Nordea Investment Management AB's holdings in Enphase Energy were worth $465,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Harbour Investments Inc. grew its position in Enphase Energy by 34.8% in the 2nd quarter. Harbour Investments Inc. now owns 1,725 shares of the semiconductor company's stock valued at $68,000 after purchasing an additional 445 shares during the period. TD Asset Management Inc grew its position in Enphase Energy by 2.3% in the 2nd quarter. TD Asset Management Inc now owns 24,080 shares of the semiconductor company's stock valued at $955,000 after purchasing an additional 546 shares during the period. RFG Advisory LLC grew its position in Enphase Energy by 34.3% in the 2nd quarter. RFG Advisory LLC now owns 7,400 shares of the semiconductor company's stock valued at $293,000 after purchasing an additional 1,890 shares during the period. Yousif Capital Management LLC grew its position in Enphase Energy by 3.0% in the 2nd quarter. Yousif Capital Management LLC now owns 16,796 shares of the semiconductor company's stock valued at $666,000 after purchasing an additional 482 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Enphase Energy during the 2nd quarter worth $192,000. Institutional investors and hedge funds own 72.12% of the company's stock.

Insider Activity at Enphase Energy

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ENPH shares. JPMorgan Chase & Co. lifted their price objective on shares of Enphase Energy from $39.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, October 16th. Oppenheimer cut their price objective on shares of Enphase Energy from $77.00 to $73.00 and set an "outperform" rating on the stock in a report on Thursday, October 9th. Bank of America cut their price objective on shares of Enphase Energy from $31.00 to $30.00 and set an "underperform" rating on the stock in a report on Wednesday, July 23rd. Zacks Research raised shares of Enphase Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 1st. Finally, TD Cowen cut their price objective on shares of Enphase Energy from $45.00 to $40.00 and set a "hold" rating on the stock in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have assigned a Hold rating and thirteen have given a Sell rating to the company's stock. According to MarketBeat.com, Enphase Energy has an average rating of "Reduce" and an average price target of $46.37.

Enphase Energy Trading Down 1.2%

NASDAQ ENPH opened at $35.64 on Friday. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 27.84 and a beta of 1.56. Enphase Energy, Inc. has a one year low of $29.89 and a one year high of $89.95. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.97 and a quick ratio of 1.82. The business's fifty day moving average is $37.12 and its 200-day moving average is $40.54.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.07. The company had revenue of $363.15 million for the quarter, compared to analysts' expectations of $359.14 million. Enphase Energy had a return on equity of 24.55% and a net margin of 11.78%.The business's revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.43 EPS. Equities research analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Enphase Energy Company 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.

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