Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Aviva PLC

Aviva PLC reduced its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 36.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,582 shares of the semiconductor company's stock after selling 46,879 shares during the period. Aviva PLC owned approximately 0.06% of Enphase Energy worth $5,672,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Enphase Energy in the fourth quarter worth about $477,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Enphase Energy in the 4th quarter worth approximately $47,000. Resona Asset Management Co. Ltd. acquired a new stake in Enphase Energy in the fourth quarter valued at approximately $2,892,000. Westpac Banking Corp raised its stake in shares of Enphase Energy by 40.0% during the fourth quarter. Westpac Banking Corp now owns 13,458 shares of the semiconductor company's stock valued at $924,000 after purchasing an additional 3,843 shares during the period. Finally, Cynosure Group LLC boosted its stake in shares of Enphase Energy by 35.3% in the fourth quarter. Cynosure Group LLC now owns 12,695 shares of the semiconductor company's stock valued at $872,000 after purchasing an additional 3,315 shares during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 owns 1,881,760 shares in the company, valued at $115,276,617.60. This represents a 5.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the business'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 sale, the chief financial officer now owns 78,524 shares in the company, valued at $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts recently issued reports on ENPH shares. Jefferies Financial Group dropped their price target on shares of Enphase Energy from $54.00 to $44.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. Truist Financial reaffirmed a "hold" rating and set a $65.00 target price (down from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. Glj Research reissued a "sell" rating and issued a $50.69 price target on shares of Enphase Energy in a report on Tuesday, February 4th. Susquehanna dropped their price objective on Enphase Energy from $76.00 to $59.00 and set a "neutral" rating on the stock in a report on Monday. Finally, The Goldman Sachs Group reduced their target price on Enphase Energy from $121.00 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, January 22nd. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy has an average rating of "Hold" and an average target price of $88.49.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH traded down $1.25 during trading hours on Tuesday, hitting $53.30. The stock had a trading volume of 713,220 shares, compared to its average volume of 3,973,828. The stock's fifty day simple moving average is $60.24 and its 200 day simple moving average is $70.35. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of 71.93 and a beta of 1.94. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. Enphase Energy, Inc. has a 1-year low of $47.48 and a 1-year high of $141.63.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. Sell-side analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Enphase Energy 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.