Rhumbline Advisers Increases Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Rhumbline Advisers raised its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 12.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 293,168 shares of the semiconductor company's stock after acquiring an additional 33,350 shares during the period. Rhumbline Advisers owned approximately 0.22% of Enphase Energy worth $18,191,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Venturi Wealth Management LLC grew its holdings in Enphase Energy by 318.1% during the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock valued at $46,000 after purchasing an additional 509 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Enphase Energy in the 4th quarter worth approximately $47,000. GeoWealth Management LLC lifted its position in shares of Enphase Energy by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock worth $61,000 after purchasing an additional 321 shares during the period. Sava Infond d.o.o. purchased a new stake in shares of Enphase Energy in the 4th quarter worth approximately $69,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Enphase Energy in the 4th quarter worth approximately $96,000. 72.12% of the stock is currently owned by institutional investors.

Insider Transactions at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average cost of $46.35 per share, with a total value of $185,400.00. Following the completion of the acquisition, the chief executive officer now owns 1,598,696 shares of the company's stock, valued at approximately $74,099,559.60. This represents a 0.25% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Canaccord Genuity Group lowered their price target on shares of Enphase Energy from $70.00 to $58.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Morgan Stanley cut shares of Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price target for the company. in a research report on Wednesday, April 23rd. Jefferies Financial Group lowered their price target on shares of Enphase Energy from $44.00 to $37.00 and set an "underperform" rating for the company in a research report on Wednesday, April 23rd. Mizuho set a $53.00 price target on shares of Enphase Energy and gave the stock an "outperform" rating in a research report on Monday, June 2nd. Finally, Citigroup lowered their price target on shares of Enphase Energy from $47.00 to $43.00 and set a "sell" rating for the company in a research report on Thursday, June 5th. Eleven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $68.31.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH traded up $0.20 during midday trading on Wednesday, reaching $45.28. The company's stock had a trading volume of 3,955,157 shares, compared to its average volume of 4,517,600. The firm has a market capitalization of $5.94 billion, a PE ratio of 61.19 and a beta of 1.70. Enphase Energy, Inc. has a twelve month low of $37.59 and a twelve month high of $141.63. The stock has a fifty day moving average of $46.81 and a 200 day moving average of $59.26. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44.

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.