Canada Pension Plan Investment Board Purchases 253,215 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Canada Pension Plan Investment Board lifted its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 58.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 690,152 shares of the semiconductor company's stock after acquiring an additional 253,215 shares during the period. Canada Pension Plan Investment Board owned 0.51% of Enphase Energy worth $47,400,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ENPH. Wilmington Savings Fund Society FSB bought a new position in Enphase Energy in the 3rd quarter valued at about $239,000. Tidal Investments LLC boosted its holdings in shares of Enphase Energy by 121.4% in the 3rd quarter. Tidal Investments LLC now owns 122,929 shares of the semiconductor company's stock worth $13,893,000 after buying an additional 67,411 shares during the last quarter. Peapack Gladstone Financial Corp purchased a new stake in Enphase Energy during the third quarter worth about $292,000. GAMMA Investing LLC boosted its stake in Enphase Energy by 131.9% in the fourth quarter. GAMMA Investing LLC now owns 4,940 shares of the semiconductor company's stock valued at $339,000 after acquiring an additional 2,810 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new position in shares of Enphase Energy during the 4th quarter valued at approximately $470,000. Institutional investors own 72.12% of the company's stock.

Insider Buying and Selling at Enphase Energy

In related news, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of the transaction, the director now directly owns 1,881,760 shares in the company, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the completion of the sale, the chief financial officer now owns 78,524 shares in the company, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

Enphase Energy Trading Down 15.4 %

Enphase Energy stock traded down $8.25 during trading hours on Wednesday, reaching $45.18. The company had a trading volume of 23,307,195 shares, compared to its average volume of 4,069,569. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 61.06 and a beta of 1.94. Enphase Energy, Inc. has a 12-month low of $44.92 and a 12-month high of $141.63. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The company has a 50-day moving average price of $58.95 and a 200 day moving average price of $68.26.

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 (EPS) for the quarter, topping 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%. Equities analysts forecast that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on ENPH. Wells Fargo & Company dropped their price objective on Enphase Energy from $77.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Guggenheim reissued a "sell" rating and issued a $33.00 price objective on shares of Enphase Energy in a report on Wednesday. Glj Research reaffirmed a "sell" rating and set a $50.69 price objective on shares of Enphase Energy in a report on Tuesday, February 4th. Royal Bank of Canada reiterated a "sector perform" rating and set a $54.00 target price (down previously from $59.00) on shares of Enphase Energy in a research report on Wednesday. Finally, Oppenheimer boosted their price target on shares of Enphase Energy from $101.00 to $103.00 and gave the company an "outperform" rating in a research report on Wednesday, February 5th. Six 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.com, the company currently has an average rating of "Hold" and a consensus price target of $74.20.

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.