Xponance Inc. Sells 9,557 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Xponance Inc. lowered its holdings in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 28.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,555 shares of the semiconductor company's stock after selling 9,557 shares during the quarter. Xponance Inc.'s holdings in Enphase Energy were worth $1,462,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Woodline Partners LP purchased a new position in Enphase Energy during the 4th quarter worth $557,000. Teacher Retirement System of Texas purchased a new position in Enphase Energy during the 1st quarter worth $1,609,000. QRG Capital Management Inc. purchased a new position in Enphase Energy during the 1st quarter worth $512,000. Bouvel Investment Partners LLC purchased a new position in Enphase Energy during the 1st quarter worth $847,000. Finally, Norges Bank purchased a new position in Enphase Energy during the 4th quarter worth $46,339,000. Institutional investors and hedge funds own 72.12% of the company's stock.

Insider Buying and Selling

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of Enphase Energy stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 1,598,696 shares of the company's stock, valued at approximately $74,099,559.60. The trade was a 0.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 3.10% of the stock is owned by insiders.

Enphase Energy Price Performance

Shares of ENPH stock traded down $1.22 during trading on Wednesday, hitting $39.03. The company had a trading volume of 6,622,682 shares, compared to its average volume of 5,037,063. The company has a quick ratio of 1.77, a current ratio of 1.90 and a debt-to-equity ratio of 0.70. The stock's 50-day moving average is $42.52 and its two-hundred day moving average is $53.87. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 36.14 and a beta of 1.67. Enphase Energy, Inc. has a 52 week low of $33.01 and a 52 week high of $130.08.

Wall Street Analyst Weigh In

ENPH has been the topic of a number of analyst reports. Susquehanna cut their price objective on shares of Enphase Energy from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Guggenheim reissued a "sell" rating and issued a $33.00 price target on shares of Enphase Energy in a report on Wednesday, April 23rd. BNP Paribas Exane downgraded shares of Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price target on the stock. in a report on Tuesday, May 13th. KeyCorp reissued an "underweight" rating and issued a $31.00 price target on shares of Enphase Energy in a report on Tuesday, June 17th. Finally, Oppenheimer set a $84.00 price target on shares of Enphase Energy and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Thirteen analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Enphase Energy has an average rating of "Hold" and a consensus target price of $61.20.

About Enphase Energy

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.