Gilder Gagnon Howe & Co. LLC Reduces Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Gilder Gagnon Howe & Co. LLC trimmed its holdings in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 23.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 99,172 shares of the semiconductor company's stock after selling 29,896 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned about 0.07% of Enphase Energy worth $6,811,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Venturi Wealth Management LLC raised its position in Enphase Energy by 318.1% in the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock valued at $46,000 after buying an additional 509 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in Enphase Energy during the 4th quarter worth about $47,000. GeoWealth Management LLC boosted 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 valued at $61,000 after purchasing an additional 321 shares in the last quarter. Sava Infond d.o.o. bought a new stake in Enphase Energy in the 4th quarter valued at about $69,000. Finally, Avior Wealth Management LLC raised its holdings 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 acquiring an additional 762 shares during the last quarter. 72.12% of the stock is owned by institutional investors.

Enphase Energy Price Performance

Shares of ENPH stock traded up $1.27 on Friday, hitting $45.82. 2,189,282 shares of the company's stock were exchanged, compared to its average volume of 4,045,485. The stock has a market cap of $6.01 billion, a P/E ratio of 61.97 and a beta of 1.94. Enphase Energy, Inc. has a 12 month low of $43.80 and a 12 month 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 50 day moving average of $56.24 and a 200 day moving average of $65.75.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. On average, equities research analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ENPH. Morgan Stanley downgraded Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price objective on the stock. in a research report on Wednesday, April 23rd. Oppenheimer set a $84.00 price objective on Enphase Energy and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. BMO Capital Markets lowered their price target on shares of Enphase Energy from $59.00 to $46.00 and set a "market perform" rating on the stock in a report on Wednesday, April 23rd. Royal Bank of Canada restated a "sector perform" rating and set a $54.00 target price (down previously from $59.00) on shares of Enphase Energy in a research report on Wednesday, April 23rd. Finally, Piper Sandler reduced their price objective on Enphase Energy from $47.00 to $42.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Seven research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $70.54.

Insider Buying and Selling

In related news, CFO Mandy Yang sold 1,319 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the sale, the chief financial officer now directly owns 78,524 shares of the company's stock, valued at approximately $4,972,139.68. This represents a 1.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the business's stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average cost of $46.35 per share, with a total value of $185,400.00. Following the acquisition, the chief executive officer now directly owns 1,598,696 shares of the company's stock, valued at $74,099,559.60. This trade represents a 0.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.10% of the stock is owned by company insiders.

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.