Wealthfront Advisers LLC Acquires 51,176 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Wealthfront Advisers LLC lifted its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 1,047.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,064 shares of the semiconductor company's stock after buying an additional 51,176 shares during the period. Wealthfront Advisers LLC's holdings in Enphase Energy were worth $3,479,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ENPH. Invesco Ltd. lifted its position in Enphase Energy by 43.4% in the 4th quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company's stock valued at $313,034,000 after acquiring an additional 1,378,978 shares in the last quarter. Worldquant Millennium Advisors LLC raised its position in Enphase Energy by 531.4% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company's stock worth $55,342,000 after purchasing an additional 678,163 shares during the period. Norges Bank purchased a new position in shares of Enphase Energy in the fourth quarter valued at about $46,339,000. Alyeska Investment Group L.P. increased its position 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 valued at $92,652,000 after buying an additional 517,989 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Enphase Energy by 10,270.1% in the first quarter. GAMMA Investing LLC now owns 512,285 shares of the semiconductor company's stock worth $31,787,000 after purchasing an additional 507,345 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $38.74 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.77 and a current ratio of 1.90. The company has a 50-day simple moving average of $42.22 and a 200-day simple moving average of $53.55. Enphase Energy, Inc. has a one year low of $33.01 and a one year high of $130.08. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 35.87 and a beta of 1.67.

Insider Activity

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the firm's stock in a transaction dated Friday, April 25th. The stock was bought at an average cost of $46.35 per share, with a total value of $185,400.00. Following the purchase, the chief executive officer directly owned 1,598,696 shares of the company's stock, valued at $74,099,559.60. The trade was a 0.25% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ENPH shares. Wells Fargo & Company decreased their price target on shares of Enphase Energy from $65.00 to $42.00 and set an "overweight" rating on the stock in a research report on Friday, June 20th. Jefferies Financial Group lowered their target price on shares of Enphase Energy from $44.00 to $37.00 and set an "underperform" rating for the company in a research note on Wednesday, April 23rd. Barclays cut their price target on shares of Enphase Energy from $40.00 to $28.00 and set an "underweight" rating for the company in a report on Monday. Glj Research decreased their target price on shares of Enphase Energy from $50.69 to $31.11 and set a "sell" rating on the stock in a report on Friday, April 25th. Finally, Mizuho reduced their price target on shares of Enphase Energy from $53.00 to $50.00 and set an "outperform" rating on the stock in a research report on Monday. Thirteen analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $61.20.

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.

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