Enphase Energy, Inc. (NASDAQ:ENPH) Director Thurman J. Rodgers Sells 100,000 Shares

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 1,881,760 shares of the company's stock, valued at $115,276,617.60. This represents a 5.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Enphase Energy Stock Up 5.0 %

Shares of Enphase Energy stock traded up $2.91 during trading on Friday, hitting $61.63. 6,451,559 shares of the stock were exchanged, compared to its average volume of 4,397,771. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 83.28 and a beta of 2.12. The firm's 50-day moving average price is $64.45 and its 200 day moving average price is $81.46. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. Enphase Energy, Inc. has a 12-month low of $51.63 and a 12-month high of $141.63.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing analysts' consensus estimates of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. As a group, analysts forecast that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Piper Sandler lowered their price target on shares of Enphase Energy from $70.00 to $65.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. OTR Global upgraded shares of Enphase Energy from a "negative" rating to a "mixed" rating in a research note on Friday, December 20th. Glj Research restated a "sell" rating and set a $50.69 price target on shares of Enphase Energy in a research report on Tuesday, February 4th. Royal Bank of Canada decreased their price target on shares of Enphase Energy from $85.00 to $71.00 and set a "sector perform" rating on the stock in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. dropped their price objective on Enphase Energy from $112.00 to $91.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $90.42.

Institutional Trading of Enphase Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC boosted its holdings in shares of Enphase Energy by 6,975.0% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 279 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in Enphase Energy in the 3rd quarter valued at approximately $34,000. Quarry LP purchased a new stake in Enphase Energy in the 3rd quarter valued at approximately $37,000. Venturi Wealth Management LLC increased its position in Enphase Energy by 318.1% during the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock worth $46,000 after purchasing an additional 509 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Enphase Energy during the 4th quarter worth approximately $47,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.