Worldquant Millennium Advisors LLC grew its holdings in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 531.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 805,791 shares of the semiconductor company's stock after purchasing an additional 678,163 shares during the period. Worldquant Millennium Advisors LLC owned approximately 0.60% of Enphase Energy worth $55,342,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its stake in shares of Enphase Energy by 72.7% in the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 19,000 shares of the semiconductor company's stock valued at $1,305,000 after purchasing an additional 8,000 shares during the last quarter. Norges Bank bought a new position in shares of Enphase Energy in the 4th quarter valued at $46,339,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Enphase Energy in the 4th quarter valued at $5,324,000. Y Intercept Hong Kong Ltd bought a new position in shares of Enphase Energy in the 4th quarter valued at $584,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Enphase Energy by 6.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 937,016 shares of the semiconductor company's stock valued at $64,354,000 after purchasing an additional 56,676 shares during the last quarter. Institutional investors own 72.12% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on ENPH shares. Redburn Atlantic started coverage on Enphase Energy in a research report on Monday, March 3rd. They set a "neutral" rating on the stock. 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 report on Thursday, April 24th. Glj Research reduced their price objective on Enphase Energy from $50.69 to $31.11 and set a "sell" rating on the stock in a research report on Friday, April 25th. Truist Financial cut their target price on Enphase Energy from $65.00 to $49.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. Finally, Craig Hallum cut their target price on Enphase Energy from $123.00 to $101.00 and set a "buy" rating on the stock in a report on Wednesday, February 5th. Eleven analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $68.87.
Read Our Latest Research Report on Enphase Energy
Enphase Energy Stock Up 4.3%
ENPH traded up $1.63 during midday trading on Friday, reaching $39.64. 10,160,647 shares of the company were exchanged, compared to its average volume of 4,393,877. 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 company's fifty day moving average price is $51.86 and its 200 day moving average price is $61.19. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 53.57 and a beta of 1.80. Enphase Energy, Inc. has a one year low of $37.59 and a one year high of $141.63.
Insiders Place Their Bets
In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the completion of the sale, the chief financial officer now directly 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thurman J. Rodgers sold 100,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of the transaction, 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 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 Profile
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Free Report)
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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