Worldquant Millennium Advisors LLC Raises Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Worldquant Millennium Advisors LLC lifted its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 531.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 805,791 shares of the semiconductor company's stock after buying an additional 678,163 shares during the quarter. Worldquant Millennium Advisors LLC owned about 0.60% of Enphase Energy worth $55,342,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Inspire Investing LLC lifted its position in shares of Enphase Energy by 2.0% during 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 during the last quarter. McGowan Group Asset Management Inc. lifted its position in shares of Enphase Energy by 2.0% during the 4th quarter. McGowan Group Asset Management Inc. now owns 16,670 shares of the semiconductor company's stock worth $1,145,000 after buying an additional 319 shares during the last quarter. GeoWealth Management LLC lifted its position in shares of Enphase Energy by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock worth $61,000 after buying an additional 321 shares during the last quarter. Norinchukin Bank The lifted its position in shares of Enphase Energy by 6.0% during the 4th quarter. Norinchukin Bank The now owns 5,754 shares of the semiconductor company's stock worth $395,000 after buying an additional 328 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its position in shares of Enphase Energy by 0.7% during the 4th quarter. Rafferty Asset Management LLC now owns 49,939 shares of the semiconductor company's stock worth $3,430,000 after buying an additional 332 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company's stock.

Insider Transactions at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $46.35 per share, for a total transaction of $185,400.00. Following the transaction, the chief executive officer now directly owns 1,598,696 shares of the company's stock, valued at approximately $74,099,559.60. This represents a 0.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thurman J. Rodgers sold 100,000 shares of the business's stock in a transaction dated 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 sale, the director now owns 1,881,760 shares in the company, valued at $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 Stock Performance

NASDAQ:ENPH opened at $48.78 on Tuesday. 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 fifty-two week low of $43.09 and a fifty-two week high of $141.63. The stock has a market cap of $6.40 billion, a PE ratio of 65.92 and a beta of 1.80. The firm's fifty day simple moving average is $53.21 and its 200-day simple moving average is $62.17.

Wall Street Analyst Weigh In

ENPH has been the subject of several recent analyst reports. Susquehanna reduced 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 report on Wednesday, April 23rd. JPMorgan Chase & Co. cut their target price on shares of Enphase Energy from $112.00 to $91.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. BNP Paribas Exane cut shares of Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 target price on the stock. in a report on Tuesday, May 13th. The Goldman Sachs Group cut their target price on shares of Enphase Energy from $90.00 to $77.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Mizuho cut their target price on shares of Enphase Energy from $81.00 to $65.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Eleven equities 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 MarketBeat.com, the stock 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.