Independent Advisor Alliance Decreases Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Independent Advisor Alliance lessened its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 76.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,851 shares of the semiconductor company's stock after selling 12,272 shares during the quarter. Independent Advisor Alliance's holdings in Enphase Energy were worth $509,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Panagora Asset Management Inc. boosted its holdings in Enphase Energy by 34.9% during the 3rd quarter. Panagora Asset Management Inc. now owns 7,512 shares of the semiconductor company's stock worth $903,000 after acquiring an additional 1,942 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Enphase Energy by 2.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 10,618 shares of the semiconductor company's stock worth $1,276,000 after acquiring an additional 262 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Enphase Energy by 11.4% during the 3rd quarter. Principal Financial Group Inc. now owns 253,996 shares of the semiconductor company's stock worth $30,518,000 after acquiring an additional 26,066 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Enphase Energy by 1.3% during the 3rd quarter. Private Advisor Group LLC now owns 14,960 shares of the semiconductor company's stock worth $1,797,000 after acquiring an additional 193 shares during the last quarter. Finally, SageView Advisory Group LLC purchased a new position in Enphase Energy during the 3rd quarter worth $440,000. Institutional investors own 72.12% of the company's stock.

Enphase Energy Trading Up 8.7 %

Shares of NASDAQ:ENPH traded up $9.73 during trading on Wednesday, reaching $121.23. 8,361,838 shares of the company traded hands, compared to its average volume of 4,126,210. The firm has a market capitalization of $16.49 billion, a price-to-earnings ratio of 61.10, a P/E/G ratio of 4.06 and a beta of 1.50. Enphase Energy, Inc. has a 52-week low of $73.49 and a 52-week high of $192.22. 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 business's fifty day moving average is $113.45 and its 200-day moving average is $113.10.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group downgraded shares of Enphase Energy from a "buy" rating to a "hold" rating and cut their price target for the stock from $135.00 to $111.00 in a report on Wednesday, April 24th. Citigroup downgraded shares of Enphase Energy from a "buy" rating to a "neutral" rating and cut their price target for the stock from $126.00 to $121.00 in a report on Friday, April 5th. Truist Financial dropped their price objective on shares of Enphase Energy from $145.00 to $130.00 and set a "buy" rating on the stock in a report on Tuesday, April 23rd. Guggenheim downgraded shares of Enphase Energy from a "neutral" rating to a "sell" rating and set a $92.00 price objective on the stock. in a report on Wednesday, April 24th. Finally, TD Cowen upped their price objective on shares of Enphase Energy from $140.00 to $145.00 and gave the company a "buy" rating in a report on Wednesday, April 24th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $133.45.

Insider Buying and Selling

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the company's stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the purchase, the chief executive officer now directly owns 1,655,171 shares of the company's stock, valued at approximately $199,514,312.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the firm's stock in a transaction on Tuesday, February 27th. The stock was acquired at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the acquisition, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 completion of the transaction, the executive vice president now owns 119,948 shares of the company's stock, valued at approximately $13,948,752.92. The disclosure for this sale can be found here. Insiders sold 30,000 shares of company stock valued at $3,219,700 over the last quarter. 3.40% of the stock is owned by company insiders.

Enphase Energy 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.