Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Sphera Funds Management LTD.

Sphera Funds Management LTD. trimmed its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 21.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,198 shares of the semiconductor company's stock after selling 14,026 shares during the period. Sphera Funds Management LTD.'s holdings in Enphase Energy were worth $3,448,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Rafferty Asset Management LLC grew its position in shares of Enphase Energy by 0.7% in the 4th quarter. Rafferty Asset Management LLC now owns 49,939 shares of the semiconductor company's stock valued at $3,430,000 after buying an additional 332 shares during the last quarter. Raiffeisen Bank International AG purchased a new position in shares of Enphase Energy in the 4th quarter valued at $17,609,000. ProShare Advisors LLC grew its position in shares of Enphase Energy by 7.3% in the 4th quarter. ProShare Advisors LLC now owns 46,356 shares of the semiconductor company's stock valued at $3,184,000 after buying an additional 3,134 shares during the last quarter. Quantinno Capital Management LP grew its position in shares of Enphase Energy by 512.9% in the 4th quarter. Quantinno Capital Management LP now owns 58,246 shares of the semiconductor company's stock valued at $4,000,000 after buying an additional 48,743 shares during the last quarter. Finally, Mufg Securities Americas Inc. purchased a new position in shares of Enphase Energy in the 4th quarter valued at $137,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Price Performance

Shares of NASDAQ ENPH traded down $1.62 during midday trading on Monday, hitting $48.78. The company had a trading volume of 5,501,490 shares, compared to its average volume of 4,267,791. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. Enphase Energy, Inc. has a twelve month low of $43.09 and a twelve month high of $141.63. The business has a 50-day simple moving average of $53.21 and a two-hundred day simple moving average of $62.17. The firm has a market capitalization of $6.40 billion, a price-to-earnings ratio of 65.92 and a beta of 1.80.

Analyst Ratings Changes

ENPH has been the subject of a number of recent research reports. Glj Research decreased their price target on shares of Enphase Energy from $50.69 to $31.11 and set a "sell" rating for the company in a research note on Friday, April 25th. Guggenheim reiterated a "sell" rating and set a $33.00 price target on shares of Enphase Energy in a research note on Wednesday, April 23rd. Truist Financial decreased their price target on shares of Enphase Energy from $65.00 to $49.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. Piper Sandler decreased their price target on shares of Enphase Energy from $47.00 to $42.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Finally, Canaccord Genuity Group decreased their price target on shares of Enphase Energy from $70.00 to $58.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Eleven investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy presently has an average rating of "Hold" and an average target price of $68.87.

Insider Activity at Enphase Energy

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of Enphase Energy 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 completion of the transaction, the chief financial officer now owns 78,524 shares in the company, valued at approximately $4,972,139.68. The trade was a 1.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction dated 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. The trade was a 5.05% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.10% of the company's stock.

Enphase Energy Company 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.