Principal Financial Group Inc. Lowers Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Principal Financial Group Inc. lessened its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 37.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 159,069 shares of the semiconductor company's stock after selling 94,927 shares during the period. Principal Financial Group Inc. owned 0.12% of Enphase Energy worth $21,019,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ENPH. Dimensional Fund Advisors LP lifted its position in Enphase Energy by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 483,991 shares of the semiconductor company's stock worth $63,964,000 after purchasing an additional 18,468 shares during the period. Donoghue Forlines LLC lifted its position in Enphase Energy by 4.8% in the fourth quarter. Donoghue Forlines LLC now owns 1,953 shares of the semiconductor company's stock worth $258,000 after purchasing an additional 90 shares during the period. Versor Investments LP bought a new position in Enphase Energy in the fourth quarter worth $544,000. Grand Alliance Asset Management Ltd bought a new position in Enphase Energy in the fourth quarter worth $4,889,000. Finally, Calton & Associates Inc. bought a new position in Enphase Energy in the fourth quarter worth $479,000. Institutional investors and hedge funds own 72.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ENPH shares. B. Riley lifted their price objective on Enphase Energy from $121.00 to $149.00 and gave the company a "buy" rating in a report on Monday, April 22nd. Oppenheimer raised their target price on Enphase Energy from $133.00 to $134.00 and gave the company an "outperform" rating in a research note on Wednesday, April 24th. Barclays upgraded Enphase Energy from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $115.00 to $134.00 in a research note on Friday, April 26th. Susquehanna restated a "positive" rating and issued a $140.00 target price on shares of Enphase Energy in a research note on Friday, April 5th. Finally, Mizuho lowered their target price on Enphase Energy from $150.00 to $148.00 and set a "buy" rating for the company in a research note on Friday, April 19th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Enphase Energy currently has a consensus rating of "Hold" and a consensus target price of $133.45.

Enphase Energy Stock Down 1.7 %

Shares of NASDAQ:ENPH traded down $1.95 during trading on Tuesday, hitting $111.50. 2,538,614 shares of the company were exchanged, compared to its average volume of 4,082,842. The company has a current ratio of 4.16, a quick ratio of 3.78 and a debt-to-equity ratio of 1.30. The stock has a market cap of $15.17 billion, a price-to-earnings ratio of 58.07, a P/E/G ratio of 4.09 and a beta of 1.50. Enphase Energy, Inc. has a fifty-two week low of $73.49 and a fifty-two week high of $192.22. The firm has a fifty day moving average price of $113.45 and a two-hundred day moving average price of $113.10.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.17). The business had revenue of $263.34 million for the quarter, compared to analyst estimates of $280.06 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. As a group, research analysts anticipate that Enphase Energy, Inc. will post 1.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the business's stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the transaction, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of Enphase Energy stock in a transaction dated Tuesday, February 27th. The shares were bought at an average cost 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 in the company, valued at approximately $199,514,312.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $116.29, for a total value of $581,450.00. Following the sale, the executive vice president now directly owns 119,948 shares in the company, valued at $13,948,752.92. The disclosure for this sale can be found here. Insiders have sold a total of 30,000 shares of company stock valued at $3,219,700 in the last ninety days. 3.40% of the stock is currently 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.