Pinebridge Investments L.P. Sells 49,516 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Pinebridge Investments L.P. decreased its position in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 65.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,485 shares of the semiconductor company's stock after selling 49,516 shares during the quarter. Pinebridge Investments L.P.'s holdings in Enphase Energy were worth $1,819,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in Enphase Energy during the third quarter valued at $239,000. Tidal Investments LLC increased its holdings in shares of Enphase Energy by 121.4% during the third quarter. Tidal Investments LLC now owns 122,929 shares of the semiconductor company's stock valued at $13,893,000 after acquiring an additional 67,411 shares in the last quarter. Peapack Gladstone Financial Corp purchased a new position in shares of Enphase Energy in the 3rd quarter worth about $292,000. GAMMA Investing LLC boosted its stake in Enphase Energy by 131.9% in the 4th quarter. GAMMA Investing LLC now owns 4,940 shares of the semiconductor company's stock worth $339,000 after purchasing an additional 2,810 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in Enphase Energy during the 4th quarter valued at about $470,000. Hedge funds and other institutional investors own 72.12% of the company's stock.

Insider Transactions at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the stock in a transaction dated Friday, April 25th. The shares were purchased at an average price of $46.35 per share, with a total value of $185,400.00. Following the completion of the acquisition, the chief executive officer now owns 1,598,696 shares of the company's stock, valued at $74,099,559.60. This represents a 0.25 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the transaction, the director now owns 1,881,760 shares of the company's stock, valued at approximately $115,276,617.60. This represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company's stock.

Wall Street Analysts Forecast Growth

ENPH has been the topic of several analyst reports. Truist Financial dropped their target price on shares of Enphase Energy from $65.00 to $49.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Guggenheim reaffirmed a "sell" rating and issued a $33.00 price objective on shares of Enphase Energy in a research report on Wednesday, April 23rd. Wells Fargo & Company reduced their target price on Enphase Energy from $75.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. TD Cowen lowered their price target on Enphase Energy from $78.00 to $58.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Piper Sandler reduced their price objective on Enphase Energy from $47.00 to $42.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Seven analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $70.54.

Enphase Energy Stock Performance

NASDAQ ENPH traded down $0.04 on Thursday, reaching $44.55. 5,880,141 shares of the stock were exchanged, compared to its average volume of 4,053,776. The firm has a market capitalization of $5.85 billion, a PE ratio of 60.20 and a beta of 1.94. Enphase Energy, Inc. has a one year low of $43.82 and a one year high of $141.63. The company's 50-day simple moving average is $56.67 and its two-hundred day simple moving average is $66.14. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. Analysts expect that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

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.