Insider Buying: Enphase Energy, Inc. (NASDAQ:ENPH) CEO Acquires 5,000 Shares of Stock

Key Points

• Badrinarayanan Kothandaraman, CEO of Enphase Energy, purchased 5,000 shares at $30.82 each, totaling approximately $154,100, which increased his holdings to over 1.62 million shares valued at around $49.9 million.
• Enphase Energy reported a 19.7% increase in revenue year-over-year, with earnings per share of $0.69, exceeding analysts' expectations.
• The company's stock is facing a mixed outlook from analysts, with ratings ranging from "underperform" to "buy," and a consensus target price of $55.22.

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) CEO Badrinarayanan Kothandaraman purchased 5,000 shares of Enphase Energy stock in a transaction on Wednesday, August 6th. The stock was bought at an average cost of $30.82 per share, for a total transaction of $154,100.00. Following the transaction, the chief executive officer directly owned 1,620,632 shares in the company, valued at $49,947,878.24. This represents a 0.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Enphase Energy Stock Performance

Shares of ENPH stock traded up $0.65 on Friday, hitting $32.44. 8,006,079 shares of the stock traded hands, compared to its average volume of 8,952,046. The company's fifty day moving average is $38.99 and its 200 day moving average is $49.89. Enphase Energy, Inc. has a 1-year low of $29.89 and a 1-year high of $130.08. The company has a market capitalization of $4.24 billion, a PE ratio of 25.34 and a beta of 1.59. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.97 and a quick ratio of 1.82.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.62 by $0.07. The business had revenue of $363.15 million during the quarter, compared to analyst estimates of $359.14 million. Enphase Energy had a net margin of 11.78% and a return on equity of 24.55%. The company's quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 EPS. On average, equities research analysts predict that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ENPH. Baillie Gifford & Co. grew its stake in shares of Enphase Energy by 32.0% in the first quarter. Baillie Gifford & Co. now owns 11,052,357 shares of the semiconductor company's stock worth $685,799,000 after purchasing an additional 2,680,567 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Enphase Energy by 15.5% during the 1st quarter. Invesco Ltd. now owns 5,264,521 shares of the semiconductor company's stock worth $326,664,000 after acquiring an additional 706,656 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Enphase Energy by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,542,878 shares of the semiconductor company's stock worth $140,217,000 after acquiring an additional 73,459 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Enphase Energy by 40.9% in the 4th quarter. Northern Trust Corp now owns 1,668,807 shares of the semiconductor company's stock worth $114,614,000 after acquiring an additional 484,497 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings 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 purchasing an additional 517,989 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ENPH has been the topic of a number of recent analyst reports. Guggenheim reaffirmed a "sell" rating and issued a $33.00 target price on shares of Enphase Energy in a research report on Wednesday, April 23rd. Barclays raised their price target on Enphase Energy from $28.00 to $29.00 and gave the stock an "underweight" rating in a research note on Thursday, July 24th. Truist Financial lowered their target price on shares of Enphase Energy from $65.00 to $49.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Enphase Energy from $49.00 to $42.00 and set a "hold" rating on the stock in a research note on Thursday, July 24th. Finally, Jefferies Financial Group set a $28.00 price target on Enphase Energy and gave the stock an "underperform" rating in a report on Monday, August 4th. Thirteen investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $55.22.

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.