Other hedge funds have also recently made changes to their positions in the company. Thompson Siegel & Walmsley LLC acquired a new position in shares of Enphase Energy in the 3rd quarter valued at $28,000. Hanseatic Management Services Inc. purchased a new stake in Enphase Energy in the third quarter valued at $34,000. GHP Investment Advisors Inc. purchased a new stake in Enphase Energy in the second quarter valued at $26,000. Private Trust Co. NA boosted its holdings in Enphase Energy by 294.1% in the third quarter. Private Trust Co. NA now owns 134 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 100 shares during the last quarter. Finally, Glassman Wealth Services boosted its holdings in Enphase Energy by 55.1% in the second quarter. Glassman Wealth Services now owns 138 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 49 shares during the last quarter. 73.79% of the stock is owned by institutional investors and hedge funds.
Enphase Energy Stock Performance
Shares of ENPH stock opened at $202.80 on Friday. The company has a quick ratio of 3.31, a current ratio of 3.55 and a debt-to-equity ratio of 1.45. Enphase Energy, Inc. has a 52 week low of $118.57 and a 52 week high of $339.92. The stock has a market capitalization of $27.68 billion, a PE ratio of 73.21, a P/E/G ratio of 1.18 and a beta of 1.34. The firm has a 50 day moving average of $250.84 and a two-hundred day moving average of $277.21.
Analysts Set New Price Targets
A number of brokerages recently weighed in on ENPH. Barclays raised their price target on shares of Enphase Energy from $251.00 to $257.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 8th. Wells Fargo & Company increased their price objective on shares of Enphase Energy from $326.00 to $379.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Needham & Company LLC increased their price objective on shares of Enphase Energy from $275.00 to $335.00 and gave the company a “buy” rating in a report on Wednesday, October 26th. Truist Financial cut their price objective on shares of Enphase Energy from $325.00 to $285.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Finally, Susquehanna cut their price target on shares of Enphase Energy from $365.00 to $275.00 and set a “neutral” rating for the company in a report on Wednesday, February 8th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $305.48.
Insider Transactions at Enphase Energy
In other news, CEO Badrinarayanan Kothandaraman sold 82,347 shares of Enphase Energy stock in a transaction on Friday, December 9th. The shares were sold at an average price of $317.48, for a total transaction of $26,143,525.56. Following the completion of the sale, the chief executive officer now directly owns 1,167,786 shares of the company’s stock, valued at approximately $370,748,699.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP David A. Ranhoff sold 7,500 shares of Enphase Energy stock in a transaction on Monday, November 21st. The shares were sold at an average price of $303.43, for a total transaction of $2,275,725.00. Following the sale, the executive vice president now directly owns 85,402 shares in the company, valued at approximately $25,913,528.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Badrinarayanan Kothandaraman sold 82,347 shares of Enphase Energy stock in a transaction on Friday, December 9th. The stock was sold at an average price of $317.48, for a total transaction of $26,143,525.56. Following the sale, the chief executive officer now owns 1,167,786 shares in the company, valued at $370,748,699.28. The disclosure for this sale can be found here. In the last three months, insiders sold 141,174 shares of company stock valued at $45,218,092. Insiders own 4.80% of the company’s stock.
Enphase Energy Profile
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Enphase Energy, Inc engages in the design, development, manufacture and sale of micro inverter systems for the solar photovoltaic industry. Its products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps. The company was founded by Raghuveer R.
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