Voloridge Investment Management LLC Invests $32.25 Million in Enphase Energy, Inc. (NASDAQ:ENPH)

Voloridge Investment Management LLC bought a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 469,586 shares of the semiconductor company's stock, valued at approximately $32,251,000. Voloridge Investment Management LLC owned approximately 0.35% of Enphase Energy as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ENPH. Nisa Investment Advisors LLC grew its stake in Enphase Energy by 93.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,881 shares of the semiconductor company's stock valued at $473,000 after acquiring an additional 3,327 shares in the last quarter. Avior Wealth Management LLC grew its stake in shares of Enphase Energy by 269.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,045 shares of the semiconductor company's stock worth $72,000 after buying an additional 762 shares in the last quarter. Inspire Investing LLC grew its stake in shares of Enphase Energy by 2.0% in the 4th quarter. Inspire Investing LLC now owns 15,988 shares of the semiconductor company's stock worth $1,098,000 after buying an additional 318 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Enphase Energy by 50.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,150 shares of the semiconductor company's stock worth $285,000 after buying an additional 1,394 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Enphase Energy by 178.4% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,867 shares of the semiconductor company's stock worth $266,000 after buying an additional 2,478 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Stock Up 1.9%

Shares of NASDAQ:ENPH traded up $0.74 during trading hours on Tuesday, hitting $40.38. The company's stock had a trading volume of 2,321,979 shares, compared to its average volume of 4,386,669. Enphase Energy, Inc. has a 52 week low of $37.59 and a 52 week high of $141.63. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 54.54 and a beta of 1.80. The firm's fifty day moving average price is $51.41 and its 200 day moving average price is $60.93.

Insider Activity

In other news, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction that occurred 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 transaction, the chief financial officer now owns 78,524 shares of the company's stock, valued at $4,972,139.68. The trade was a 1.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the transaction, the director now directly owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. The trade was a 5.05% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.10% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley cut shares of Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price objective for the company. in a research note on Wednesday, April 23rd. Susquehanna dropped their price objective on shares of Enphase Energy from $59.00 to $51.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. BNP Paribas Exane cut shares of Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price objective for the company. in a research note on Tuesday, May 13th. BNP Paribas cut shares of Enphase Energy from an "outperform" rating to an "underperform" rating in a research note on Tuesday, May 13th. Finally, TD Cowen dropped 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. Eleven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Enphase Energy currently has an average rating of "Hold" and an average target price 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.