Sphera Management Technology Funds Ltd Acquires Shares of 23,550 Enphase Energy, Inc. (NASDAQ:ENPH)

Sphera Management Technology Funds Ltd bought a new position in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 23,550 shares of the semiconductor company's stock, valued at approximately $1,617,000. Enphase Energy makes up about 0.9% of Sphera Management Technology Funds Ltd's portfolio, making the stock its 27th largest holding.

A number of other institutional investors have also modified their holdings of ENPH. Teza Capital Management LLC increased its holdings in Enphase Energy by 131.7% during the 4th quarter. Teza Capital Management LLC now owns 7,323 shares of the semiconductor company's stock worth $503,000 after purchasing an additional 4,162 shares during the period. Siemens Fonds Invest GmbH purchased a new position in shares of Enphase Energy during the fourth quarter valued at $289,000. Shell Asset Management Co. increased its stake in shares of Enphase Energy by 39.5% during the fourth quarter. Shell Asset Management Co. now owns 3,311 shares of the semiconductor company's stock valued at $227,000 after buying an additional 938 shares during the period. Sherbrooke Park Advisers LLC bought a new stake in shares of Enphase Energy in the fourth quarter valued at about $746,000. Finally, Rafferty Asset Management LLC lifted its stake in Enphase Energy by 0.7% in the fourth quarter. Rafferty Asset Management LLC now owns 49,939 shares of the semiconductor company's stock worth $3,430,000 after acquiring an additional 332 shares during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $50.40 on Monday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The stock has a market capitalization of $6.61 billion, a PE ratio of 68.11 and a beta of 1.80. Enphase Energy, Inc. has a fifty-two week low of $43.09 and a fifty-two week high of $141.63. The company has a fifty day moving average of $53.41 and a two-hundred day moving average of $62.41.

Analysts Set New Price Targets

A number of research analysts have commented on ENPH shares. Oppenheimer set a $84.00 target price on shares of Enphase Energy and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. TD Cowen reduced their price objective on shares of Enphase Energy from $78.00 to $58.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company dropped their target price on Enphase Energy from $75.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $54.00 price target (down from $59.00) on shares of Enphase Energy in a report on Wednesday, April 23rd. Finally, DZ Bank cut Enphase Energy from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 23rd. Eleven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $68.87.

Insider Transactions at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the business's stock in a transaction on Friday, April 25th. The stock was bought at an average price of $46.35 per share, for a total transaction of $185,400.00. Following the acquisition, the chief executive officer now owns 1,598,696 shares in the company, valued at approximately $74,099,559.60. The trade was a 0.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the sale, the chief financial officer now owns 78,524 shares of the company's stock, valued at approximately $4,972,139.68. The trade was a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company's stock.

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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