Sumitomo Mitsui Trust Group Inc. Has $668,000 Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Sumitomo Mitsui Trust Group Inc. lessened its position in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 96.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,767 shares of the semiconductor company's stock after selling 297,060 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in Enphase Energy were worth $668,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC boosted its position in Enphase Energy by 81.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,560 shares of the semiconductor company's stock valued at $1,069,000 after buying an additional 6,992 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Enphase Energy by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 937,016 shares of the semiconductor company's stock valued at $64,354,000 after buying an additional 56,676 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Enphase Energy in the fourth quarter valued at about $1,528,000. Arizona State Retirement System raised its stake in shares of Enphase Energy by 0.9% in the fourth quarter. Arizona State Retirement System now owns 39,318 shares of the semiconductor company's stock worth $2,700,000 after acquiring an additional 336 shares during the last quarter. Finally, Inceptionr LLC raised its stake in shares of Enphase Energy by 69.2% in the fourth quarter. Inceptionr LLC now owns 6,553 shares of the semiconductor company's stock worth $450,000 after acquiring an additional 2,679 shares during the last quarter. Institutional investors own 72.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ENPH shares. The Goldman Sachs Group dropped their target price on shares of Enphase Energy from $90.00 to $77.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. BNP Paribas Exane downgraded shares of Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price target for the company. in a research note on Tuesday, May 13th. KeyCorp reissued an "underweight" rating and set a $31.00 price target on shares of Enphase Energy in a research note on Tuesday, June 17th. BNP Paribas cut shares of Enphase Energy from an "outperform" rating to an "underperform" rating in a report on Tuesday, May 13th. Finally, Truist Financial decreased their price objective on shares of Enphase Energy from $65.00 to $49.00 and set a "hold" rating for the company in a report on Thursday, April 24th. Twelve research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy has a consensus rating of "Hold" and a consensus target price of $65.44.

Insider Buying and Selling at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company's stock in a transaction dated Friday, April 25th. The shares were bought at an average cost of $46.35 per share, with a total value of $185,400.00. Following the completion of the transaction, the chief executive officer directly owned 1,598,696 shares of the company's stock, valued at $74,099,559.60. This trade represents a 0.25% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.10% of the stock is owned by insiders.

Enphase Energy Stock Performance

ENPH stock traded up $1.51 during trading hours on Friday, reaching $42.48. The stock had a trading volume of 7,032,143 shares, compared to its average volume of 4,962,537. The stock has a market capitalization of $5.57 billion, a PE ratio of 39.33 and a beta of 1.67. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.90 and a quick ratio of 1.77. The stock has a 50-day simple moving average of $43.00 and a 200 day simple moving average of $55.32. Enphase Energy, Inc. has a fifty-two week low of $33.01 and a fifty-two week high of $130.08.

Enphase Energy 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.