Enphase Energy, Inc. (NASDAQ:ENPH) Stock Position Lifted by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co raised its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 38.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 212,496 shares of the semiconductor company's stock after buying an additional 58,895 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.16% of Enphase Energy worth $14,587,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ENPH. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its position in Enphase Energy by 72.7% during the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 19,000 shares of the semiconductor company's stock worth $1,305,000 after purchasing an additional 8,000 shares during the last quarter. Norges Bank acquired a new position in Enphase Energy in the fourth quarter valued at approximately $46,339,000. Nordea Investment Management AB increased its stake in Enphase Energy by 131.6% during the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company's stock worth $155,360,000 after acquiring an additional 1,258,778 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Enphase Energy in the 4th quarter valued at $5,324,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Enphase Energy during the 4th quarter worth about $584,000. 72.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the transaction, the chief financial officer now owns 78,524 shares of the company's stock, valued at $4,972,139.68. The trade was a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thurman J. Rodgers sold 100,000 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the sale, the director now directly 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. Company insiders own 3.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ENPH. Royal Bank of Canada reiterated a "sector perform" rating and set a $54.00 price target (down from $59.00) on shares of Enphase Energy in a research report on Wednesday. Redburn Atlantic assumed coverage on Enphase Energy in a report on Monday, March 3rd. They issued a "neutral" rating on the stock. Susquehanna lowered their price objective on shares of Enphase Energy from $59.00 to $51.00 and set a "neutral" rating for the company in a research note on Wednesday. DZ Bank downgraded shares of Enphase Energy from a "hold" rating to a "strong sell" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. dropped their price target on shares of Enphase Energy from $112.00 to $91.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $70.54.

Enphase Energy Stock Up 2.4 %

Shares of ENPH traded up $1.08 during midday trading on Friday, reaching $46.83. 4,597,451 shares of the company were exchanged, compared to its average volume of 4,051,745. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 63.28 and a beta of 1.94. 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, Inc. has a 1-year low of $44.69 and a 1-year high of $141.63. The stock has a 50-day moving average price of $58.22 and a 200-day moving average price of $67.68.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly earnings data 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%. Research analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

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.