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Insider Selling: Enphase Energy Inc (NASDAQ:ENPH) COO Sells 7,500 Shares of Stock

Last updated on Thursday, July 2, 2020 | 2020 MarketBeat

Enphase Energy Inc (NASDAQ:ENPH) COO Jeff Mcneil sold 7,500 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $47.15, for a total transaction of $353,625.00. Following the sale, the chief operating officer now directly owns 292,202 shares of the company's stock, valued at $13,777,324.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Jeff Mcneil also recently made the following trade(s):

  • On Monday, June 1st, Jeff Mcneil sold 7,500 shares of Enphase Energy stock. The shares were sold at an average price of $58.47, for a total transaction of $438,525.00.
  • On Friday, May 1st, Jeff Mcneil sold 7,500 shares of Enphase Energy stock. The shares were sold at an average price of $44.81, for a total transaction of $336,075.00.

Shares of NASDAQ:ENPH traded down $0.20 during midday trading on Thursday, reaching $48.86. 3,810,013 shares of the company's stock were exchanged, compared to its average volume of 7,113,172. The company's 50 day simple moving average is $53.04 and its two-hundred day simple moving average is $40.91. The firm has a market capitalization of $5.96 billion, a PE ratio of 28.88 and a beta of 1.04. Enphase Energy Inc has a 12 month low of $17.18 and a 12 month high of $70.36. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.07 and a current ratio of 3.22.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.14. Enphase Energy had a net margin of 31.15% and a return on equity of 71.56%. The company had revenue of $205.50 million during the quarter, compared to the consensus estimate of $203.31 million. During the same period last year, the firm earned $0.08 EPS. The firm's revenue for the quarter was up 105.3% compared to the same quarter last year. On average, research analysts anticipate that Enphase Energy Inc will post 0.8 earnings per share for the current year.

Several equities research analysts recently commented on the stock. Craig Hallum upped their price target on shares of Enphase Energy from $43.00 to $54.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Raymond James upgraded shares of Enphase Energy from an "underperform" rating to a "market perform" rating in a research note on Friday, March 20th. Needham & Company LLC assumed coverage on shares of Enphase Energy in a research note on Monday. They set a "buy" rating and a $53.00 price target on the stock. Northland Securities increased their price target on shares of Enphase Energy from $40.00 to $52.00 and gave the stock an "outperform" rating in a research note on Monday, June 22nd. Finally, B. Riley increased their price target on shares of Enphase Energy from $39.00 to $41.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of "Buy" and an average price target of $59.36.

A number of hedge funds have recently made changes to their positions in ENPH. KPCB GGF Associates LLC bought a new position in Enphase Energy during the 4th quarter valued at about $99,576,000. Renaissance Technologies LLC increased its position in Enphase Energy by 1,594.3% in the 4th quarter. Renaissance Technologies LLC now owns 2,078,857 shares of the semiconductor company's stock valued at $54,321,000 after acquiring an additional 1,956,157 shares in the last quarter. FMR LLC acquired a new stake in Enphase Energy in the 4th quarter valued at about $50,484,000. Bank of America Corp DE increased its position in Enphase Energy by 1,185.5% in the 4th quarter. Bank of America Corp DE now owns 1,564,342 shares of the semiconductor company's stock valued at $40,876,000 after acquiring an additional 1,442,648 shares in the last quarter. Finally, BlackRock Inc. increased its position in Enphase Energy by 16.0% in the 1st quarter. BlackRock Inc. now owns 8,696,923 shares of the semiconductor company's stock valued at $280,823,000 after acquiring an additional 1,200,413 shares in the last quarter. 55.31% of the stock is owned by hedge funds and other institutional investors.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.

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