Two Sigma Advisers LP Sells 260,800 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Two Sigma Advisers LP lessened its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 57.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 191,209 shares of the semiconductor company's stock after selling 260,800 shares during the quarter. Two Sigma Advisers LP owned 0.14% of Enphase Energy worth $13,132,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Baillie Gifford & Co. lifted its stake in Enphase Energy by 32.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company's stock worth $574,975,000 after purchasing an additional 2,028,691 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Enphase Energy by 43.4% during the fourth quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company's stock worth $313,034,000 after purchasing an additional 1,378,978 shares during the last quarter. Norges Bank purchased a new position in shares of Enphase Energy during the fourth quarter worth about $46,339,000. Alyeska Investment Group L.P. grew its holdings in shares of Enphase Energy by 62.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,349,032 shares of the semiconductor company's stock worth $92,652,000 after buying an additional 517,989 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Enphase Energy by 40.9% in the fourth quarter. Northern Trust Corp now owns 1,668,807 shares of the semiconductor company's stock valued at $114,614,000 after purchasing an additional 484,497 shares during the period. Institutional investors and hedge funds own 72.12% of the company's stock.

Enphase Energy Price Performance

NASDAQ:ENPH traded down $0.71 during mid-day trading on Wednesday, hitting $39.51. 1,600,611 shares of the stock traded hands, compared to its average volume of 4,390,283. 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, Inc. has a 12-month low of $37.59 and a 12-month high of $141.63. The company has a market cap of $5.18 billion, a PE ratio of 53.37 and a beta of 1.80. The business's 50-day moving average price is $50.98 and its 200 day moving average price is $60.79.

Insider Activity at Enphase Energy

In related news, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the sale, the director now directly owns 1,881,760 shares of the company's stock, valued at approximately $115,276,617.60. This represents a 5.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Badrinarayanan Kothandaraman purchased 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, 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 disclosure for this purchase can be found here. 3.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ENPH shares. Truist Financial cut their price objective 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. Craig Hallum lowered their price objective on shares of Enphase Energy from $123.00 to $101.00 and set a "buy" rating for the company in a research note on Wednesday, February 5th. Piper Sandler lowered their price objective on shares of Enphase Energy from $47.00 to $42.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company reduced their price objective on Enphase Energy from $75.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group dropped their target price on Enphase Energy from $90.00 to $77.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Eleven analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $68.87.

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.