Sumitomo Mitsui Trust Holdings Inc. Sells 14,742 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Sumitomo Mitsui Trust Holdings Inc. decreased its position in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 324,660 shares of the semiconductor company's stock after selling 14,742 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.24% of Enphase Energy worth $42,901,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Granite Bay Wealth Management LLC lifted its holdings in shares of Enphase Energy by 9.2% in the fourth quarter. Granite Bay Wealth Management LLC now owns 2,752 shares of the semiconductor company's stock valued at $364,000 after buying an additional 232 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Enphase Energy during the fourth quarter worth $1,097,000. Aquila Investment Management LLC acquired a new stake in shares of Enphase Energy during the fourth quarter worth $1,321,000. RPG Investment Advisory LLC raised its position in shares of Enphase Energy by 6.1% during the fourth quarter. RPG Investment Advisory LLC now owns 48,593 shares of the semiconductor company's stock worth $6,421,000 after purchasing an additional 2,800 shares during the period. Finally, Clarius Group LLC acquired a new stake in shares of Enphase Energy during the fourth quarter worth $201,000. Institutional investors and hedge funds own 72.12% of the company's stock.

Enphase Energy Stock Performance

ENPH traded down $2.69 during midday trading on Friday, reaching $106.48. The company's stock had a trading volume of 3,460,199 shares, compared to its average volume of 3,206,401. The stock has a market cap of $14.48 billion, a P/E ratio of 34.80, a PEG ratio of 3.02 and a beta of 1.47. The company has a fifty day simple moving average of $119.85 and a 200 day simple moving average of $112.08. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32. Enphase Energy, Inc. has a twelve month low of $73.49 and a twelve month high of $228.36.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.05. The firm had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. Research analysts expect that Enphase Energy, Inc. will post 2.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ENPH. Susquehanna reaffirmed a "positive" rating and set a $140.00 target price on shares of Enphase Energy in a research report on Friday, April 5th. Oppenheimer raised Enphase Energy from a "market perform" rating to an "outperform" rating and set a $133.00 price target on the stock in a research report on Wednesday, February 7th. Barclays upped their price target on Enphase Energy from $106.00 to $115.00 and gave the company an "equal weight" rating in a research report on Thursday, February 8th. Canaccord Genuity Group initiated coverage on Enphase Energy in a research report on Tuesday, January 16th. They set a "buy" rating and a $142.00 price target on the stock. Finally, BMO Capital Markets upped their price target on Enphase Energy from $106.00 to $110.00 and gave the company a "market perform" rating in a research report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $149.88.

Insider Transactions at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the firm's stock in a transaction dated Tuesday, February 27th. The shares were bought at an average price of $120.54 per share, with a total value of $482,160.00. Following the acquisition, the chief executive officer now owns 1,655,171 shares of the company's stock, valued at $199,514,312.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP David A. Ranhoff sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $108.89, for a total transaction of $544,450.00. Following the completion of the transaction, the executive vice president now owns 124,948 shares in the company, valued at approximately $13,605,587.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the business's stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average price of $120.54 per share, with a total value of $482,160.00. Following the transaction, the chief executive officer now directly owns 1,655,171 shares in the company, valued at $199,514,312.34. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 34,285 shares of company stock valued at $4,054,428. 3.40% of the stock is owned by corporate 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.