Oddo BHF Asset Management Sas Reduces Position in Enphase Energy, Inc. $ENPH

Key Points

• Oddo BHF Asset Management cut its Enphase Energy stake by 63.3% in the fourth quarter, selling 23,466 shares and leaving it with 13,606 shares worth about $436,000.
• Enphase Energy reported Q1 earnings of $0.47 per share, topping estimates, while revenue of $282.9 million was slightly above expectations but still down 20.6% year over year.
• Analyst sentiment remains mixed: the stock has a Hold consensus rating with a $45.70 average price target, though Jefferies recently raised its target to $64 and kept a buy rating.

Oddo BHF Asset Management Sas lessened its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 63.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,606 shares of the semiconductor company's stock after selling 23,466 shares during the quarter. Oddo BHF Asset Management Sas' holdings in Enphase Energy were worth $436,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Monaco Asset Management SAM purchased a new stake in shares of Enphase Energy during the fourth quarter valued at approximately $2,724,000. Coatue Management LLC boosted its stake in shares of Enphase Energy by 95.3% during the third quarter. Coatue Management LLC now owns 1,647,893 shares of the semiconductor company's stock valued at $58,319,000 after purchasing an additional 803,945 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in shares of Enphase Energy by 695.8% during the third quarter. Dynamic Technology Lab Private Ltd now owns 47,787 shares of the semiconductor company's stock valued at $1,691,000 after purchasing an additional 41,782 shares during the period. Schroder Investment Management Group boosted its stake in shares of Enphase Energy by 24.3% during the third quarter. Schroder Investment Management Group now owns 1,024,406 shares of the semiconductor company's stock valued at $36,254,000 after purchasing an additional 200,059 shares during the period. Finally, Heron Bay Capital Management purchased a new stake in Enphase Energy in the third quarter worth $1,039,000. Hedge funds and other institutional investors own 72.12% of the company's stock.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $50.26 on Wednesday. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $6.62 billion, a P/E ratio of 49.76 and a beta of 1.60. The business has a fifty day simple moving average of $46.17 and a two-hundred day simple moving average of $41.19. Enphase Energy, Inc. has a 12 month low of $25.77 and a 12 month high of $73.74.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.43 by $0.04. The business had revenue of $282.90 million during the quarter, compared to analyst estimates of $282.28 million. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The company's revenue for the quarter was down 20.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share. On average, equities analysts forecast that Enphase Energy, Inc. will post 0.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on ENPH. Roth Mkm reaffirmed a "buy" rating on shares of Enphase Energy in a research note on Friday, May 22nd. Barclays dropped their price target on Enphase Energy from $31.00 to $30.00 and set an "underweight" rating for the company in a research note on Monday, May 4th. Weiss Ratings lowered Enphase Energy from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, June 5th. UBS Group set a $85.00 price target on Enphase Energy in a research note on Friday, May 22nd. Finally, Jefferies Financial Group raised their price target on Enphase Energy from $41.00 to $64.00 and gave the stock a "buy" rating in a research note on Friday, June 12th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Enphase Energy currently has a consensus rating of "Hold" and a consensus target price of $45.70.

Insider Buying and Selling at Enphase Energy

In other news, Director Shanker Trivedi acquired 1,000 shares of the stock in a transaction on Friday, June 12th. The stock was acquired at an average price of $53.91 per share, with a total value of $53,910.00. Following the completion of the transaction, the director owned 1,000 shares of the company's stock, valued at $53,910. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard Mora sold 700 shares of the firm's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $64.20, for a total value of $44,940.00. Following the transaction, the director directly owned 13,922 shares of the company's stock, valued at $893,792.40. This represents a 4.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.90% of the company's stock.

About Enphase Energy

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company's product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.

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