Clearbridge Investments LLC Sells 25,227 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Clearbridge Investments LLC reduced its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 14.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,073 shares of the semiconductor company's stock after selling 25,227 shares during the quarter. Clearbridge Investments LLC owned 0.11% of Enphase Energy worth $10,513,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ENPH. Vanguard Group Inc. increased its position in shares of Enphase Energy by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company's stock worth $1,135,707,000 after purchasing an additional 44,782 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of Enphase Energy by 32.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company's stock worth $574,975,000 after buying an additional 2,028,691 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Enphase Energy by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company's stock worth $381,030,000 after buying an additional 20,579 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Enphase Energy by 131.6% in the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company's stock valued at $155,360,000 after acquiring an additional 1,258,778 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in shares of Enphase Energy by 29.6% in the 4th quarter. Schroder Investment Management Group now owns 1,451,414 shares of the semiconductor company's stock worth $99,683,000 after acquiring an additional 331,917 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

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Insider Activity at Enphase Energy

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the sale, 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 position. The transaction 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 the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the transaction, the director now directly owns 1,881,760 shares of the company's stock, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ENPH has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised Enphase Energy from a "hold" rating to a "buy" rating and raised their price target for the company from $76.00 to $82.00 in a report on Wednesday, February 5th. Susquehanna lowered their target price on Enphase Energy from $79.00 to $76.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. Morgan Stanley reduced their price target on shares of Enphase Energy from $68.00 to $67.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 5th. Wells Fargo & Company decreased their price objective on shares of Enphase Energy from $77.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Finally, Truist Financial reaffirmed a "hold" rating and issued a $65.00 target price (down from $100.00) on shares of Enphase Energy in a research note on Thursday, January 16th. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $89.79.

Enphase Energy Stock Down 2.6 %

Shares of NASDAQ:ENPH traded down $1.50 during trading on Friday, hitting $57.27. 4,406,610 shares of the company's stock traded hands, compared to its average volume of 3,960,100. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. The company has a 50-day moving average price of $62.00 and a 200-day moving average price of $74.21. Enphase Energy, Inc. has a 52 week low of $51.63 and a 52 week high of $141.63. The company has a market cap of $7.59 billion, a price-to-earnings ratio of 77.39 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly 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%. As a group, research analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

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.