Rathbones Group PLC Reduces Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Key Points

• Rathbones Group PLC reduced its stake in Enphase Energy by 49.2%, owning 27,330 shares valued at approximately $1.7 million after selling 26,505 shares in the first quarter.
• Institutional investors have shown mixed activity, with Baillie Gifford & Co. increasing its holdings by 32%, while several others reduced their price targets and ratings for Enphase Energy.
• Shares of Enphase Energy opened at $34.22, reflecting a market cap of $4.47 billion and a 19.7% increase in revenue year-over-year, reporting $363.15 million for the quarter.

Rathbones Group PLC cut its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 49.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,330 shares of the semiconductor company's stock after selling 26,505 shares during the quarter. Rathbones Group PLC's holdings in Enphase Energy were worth $1,696,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Baillie Gifford & Co. grew its holdings in shares of Enphase Energy by 32.0% in the first quarter. Baillie Gifford & Co. now owns 11,052,357 shares of the semiconductor company's stock valued at $685,799,000 after purchasing an additional 2,680,567 shares during the period. Invesco Ltd. boosted its holdings in Enphase Energy by 15.5% in the 1st quarter. Invesco Ltd. now owns 5,264,521 shares of the semiconductor company's stock valued at $326,664,000 after purchasing an additional 706,656 shares during the last quarter. Northern Trust Corp grew its stake in shares of Enphase Energy by 40.9% in the 4th quarter. Northern Trust Corp now owns 1,668,807 shares of the semiconductor company's stock valued at $114,614,000 after buying an additional 484,497 shares during the period. Alyeska Investment Group L.P. grew its stake in shares of Enphase Energy by 62.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,349,032 shares of the semiconductor company's stock valued at $92,652,000 after buying an additional 517,989 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Enphase Energy by 8.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,011,771 shares of the semiconductor company's stock worth $62,780,000 after buying an additional 74,755 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company's stock.

Enphase Energy Stock Up 2.0%

Shares of NASDAQ:ENPH opened at $34.22 on Thursday. Enphase Energy, Inc. has a fifty-two week low of $29.89 and a fifty-two week high of $130.08. The firm's 50 day moving average price is $38.43 and its 200 day moving average price is $49.28. The company has a quick ratio of 1.82, a current ratio of 1.97 and a debt-to-equity ratio of 0.65. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 26.73 and a beta of 1.59.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The semiconductor company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. The company had revenue of $363.15 million for the quarter, compared to the consensus estimate of $359.14 million. Enphase Energy had a net margin of 11.78% and a return on equity of 24.55%. The company's quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 EPS. As a group, equities research analysts predict that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on ENPH. Canaccord Genuity Group reduced their price target 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. The Goldman Sachs Group reissued a "sell" rating and set a $32.00 target price (down previously from $77.00) on shares of Enphase Energy in a research note on Wednesday, July 9th. Susquehanna decreased their price target on Enphase Energy from $51.00 to $40.00 and set a "neutral" rating on the stock in a research note on Monday, July 21st. Wall Street Zen upgraded Enphase Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Mizuho cut their price objective on Enphase Energy from $53.00 to $50.00 and set an "outperform" rating for the company in a research report on Monday, July 14th. Thirteen investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Enphase Energy has an average rating of "Hold" and an average target price of $55.22.

Insider Buying and Selling

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the business's stock in a transaction on 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 completion of the purchase, the chief executive officer directly owned 1,620,632 shares in the company, valued at approximately $49,947,878.24. This represents a 0.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.10% of the stock is owned by company insiders.

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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