Public Employees Retirement System of Ohio Lowers Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Public Employees Retirement System of Ohio decreased its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 25.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,583 shares of the semiconductor company's stock after selling 15,783 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Enphase Energy were worth $3,131,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ENPH. McGowan Group Asset Management Inc. boosted its stake in Enphase Energy by 2.0% in the 4th quarter. McGowan Group Asset Management Inc. now owns 16,670 shares of the semiconductor company's stock valued at $1,145,000 after purchasing an additional 319 shares during the period. GeoWealth Management LLC boosted its stake in Enphase Energy by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock valued at $61,000 after purchasing an additional 321 shares during the period. Norinchukin Bank The boosted its stake in Enphase Energy by 6.0% in the 4th quarter. Norinchukin Bank The now owns 5,754 shares of the semiconductor company's stock valued at $395,000 after purchasing an additional 328 shares during the period. Rafferty Asset Management LLC boosted its stake in Enphase Energy by 0.7% in the 4th quarter. Rafferty Asset Management LLC now owns 49,939 shares of the semiconductor company's stock valued at $3,430,000 after purchasing an additional 332 shares during the period. Finally, Arizona State Retirement System boosted its stake in Enphase Energy by 0.9% in the 4th quarter. Arizona State Retirement System now owns 39,318 shares of the semiconductor company's stock valued at $2,700,000 after purchasing an additional 336 shares during the period. Institutional investors and hedge funds own 72.12% of the company's stock.

Enphase Energy Trading Down 1.3%

ENPH traded down $0.59 during midday trading on Wednesday, reaching $43.16. 4,163,820 shares of the company's stock traded hands, compared to its average volume of 4,449,797. The firm has a fifty day moving average of $48.55 and a two-hundred day moving average of $59.96. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 58.33 and a beta of 1.80. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. Enphase Energy, Inc. has a 52 week low of $37.59 and a 52 week high of $141.63.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ENPH. Susquehanna cut their target price on Enphase Energy from $59.00 to $51.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Canaccord Genuity Group cut their target price on Enphase Energy from $70.00 to $58.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Piper Sandler cut their target price on Enphase Energy from $47.00 to $42.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Truist Financial cut their target price on Enphase Energy from $65.00 to $49.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. Finally, Jefferies Financial Group cut their target price on Enphase Energy from $44.00 to $37.00 and set an "underperform" rating for the company in a research report on Wednesday, April 23rd. Eleven investment 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. Based on data from MarketBeat.com, Enphase Energy currently has an average rating of "Hold" and an average target price of $68.45.

Insiders Place Their Bets

In related news, Director Thurman J. Rodgers sold 100,000 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the sale, the director now owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. This represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average price of $46.35 per share, with a total value of $185,400.00. Following the transaction, the chief executive officer now owns 1,598,696 shares of the company's stock, valued at $74,099,559.60. The trade was a 0.25% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.10% of the company's stock.

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.