Enphase Energy (NASDAQ:ENPH) Shares Up 7.5% on Insider Buying Activity

Shares of Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) shot up 7.5% on Friday after an insider bought additional shares in the company. The stock traded as high as $117.26 and last traded at $114.00. 2,161,551 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 4,180,680 shares. The stock had previously closed at $106.06.

Specifically, CFO Mandy Yang acquired 4,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average cost of $104.24 per share, with a total value of $416,960.00. Following the completion of the transaction, the chief financial officer now owns 62,973 shares of the company's stock, valued at approximately $6,564,305.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Mandy Yang acquired 4,000 shares of Enphase Energy stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average price of $104.24 per share, with a total value of $416,960.00. Following the completion of the transaction, the chief financial officer now owns 62,973 shares in the company, valued at $6,564,305.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven J. Gomo sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $104.69, for a total value of $2,093,800.00. Following the completion of the sale, the director now directly owns 118,360 shares of the company's stock, valued at approximately $12,391,108.40. The disclosure for this sale can be found here. Insiders sold 54,285 shares of company stock worth $6,148,228 over the last quarter. Corporate insiders own 3.40% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ENPH shares. Truist Financial decreased their target price on Enphase Energy from $145.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday, April 23rd. KeyCorp reiterated a "sector weight" rating on shares of Enphase Energy in a research note on Thursday, January 4th. Susquehanna reissued a "positive" rating and set a $140.00 target price on shares of Enphase Energy in a research report on Friday, April 5th. B. Riley raised their price target on Enphase Energy from $121.00 to $149.00 and gave the company a "buy" rating in a research report on Monday, April 22nd. Finally, BMO Capital Markets dropped their price objective on Enphase Energy from $118.00 to $113.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 24th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $133.45.

Enphase Energy Stock Up 7.7 %

The firm's 50 day simple moving average is $116.32 and its two-hundred day simple moving average is $111.37. The firm has a market cap of $15.54 billion, a price-to-earnings ratio of 58.67, a PEG ratio of 3.76 and a beta of 1.50. The company has a current ratio of 4.16, a quick ratio of 3.78 and a debt-to-equity ratio of 1.30.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.05. The company had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. On average, equities analysts forecast that Enphase Energy, Inc. will post 1.59 EPS for the current year.

Institutional Investors Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mediolanum International Funds Ltd acquired a new position in shares of Enphase Energy in the 1st quarter valued at approximately $9,198,000. Larson Financial Group LLC raised its position in Enphase Energy by 794.7% during the first quarter. Larson Financial Group LLC now owns 2,380 shares of the semiconductor company's stock valued at $288,000 after purchasing an additional 2,114 shares in the last quarter. GSA Capital Partners LLP lifted its stake in Enphase Energy by 430.5% during the first quarter. GSA Capital Partners LLP now owns 17,373 shares of the semiconductor company's stock worth $2,102,000 after purchasing an additional 14,098 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Enphase Energy in the 1st quarter valued at $341,000. Finally, Jennison Associates LLC increased its stake in shares of Enphase Energy by 0.4% in the 1st quarter. Jennison Associates LLC now owns 30,598 shares of the semiconductor company's stock valued at $3,702,000 after purchasing an additional 118 shares during the last quarter. Institutional investors own 72.12% of the company's stock.

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.