Numerai GP LLC Purchases Shares of 23,077 Enphase Energy, Inc. (NASDAQ:ENPH)

Numerai GP LLC bought a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,077 shares of the semiconductor company's stock, valued at approximately $1,585,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its position in Enphase Energy by 72.7% in the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 19,000 shares of the semiconductor company's stock worth $1,305,000 after buying an additional 8,000 shares during the last quarter. Norges Bank acquired a new position in Enphase Energy in the fourth quarter worth approximately $46,339,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Enphase Energy in the fourth quarter worth approximately $5,324,000. Y Intercept Hong Kong Ltd acquired a new position in Enphase Energy in the fourth quarter worth approximately $584,000. Finally, Charles Schwab Investment Management Inc. grew its position in Enphase Energy by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 937,016 shares of the semiconductor company's stock worth $64,354,000 after buying an additional 56,676 shares during the last quarter. Institutional investors own 72.12% of the company's stock.

Enphase Energy Stock Up 1.4%

NASDAQ:ENPH traded up $0.68 during trading hours on Friday, reaching $50.40. The company's stock had a trading volume of 5,815,589 shares, compared to its average volume of 4,254,742. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 68.11 and a beta of 1.80. Enphase Energy, Inc. has a one year low of $43.09 and a one year high of $141.63. The business's 50-day moving average is $53.41 and its 200-day moving average is $62.69. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28.

Insider Buying and Selling

In other news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the firm's stock in a transaction on Friday, April 25th. The stock was bought at an average cost of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,598,696 shares of the company's stock, valued at approximately $74,099,559.60. The trade was a 0.25% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the sale, the chief financial officer now owns 78,524 shares of the company's stock, valued at $4,972,139.68. This trade represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ENPH shares. Mizuho decreased their price target on shares of Enphase Energy from $81.00 to $65.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. BNP Paribas lowered shares of Enphase Energy from an "outperform" rating to an "underperform" rating in a research report on Tuesday. Royal Bank of Canada restated a "sector perform" rating and issued a $54.00 price target (down previously from $59.00) on shares of Enphase Energy in a research report on Wednesday, April 23rd. Craig Hallum cut their target price on shares of Enphase Energy from $123.00 to $101.00 and set a "buy" rating on the stock in a research note on Wednesday, February 5th. Finally, DZ Bank downgraded shares of Enphase Energy from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $68.87.

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.