California Public Employees Retirement System Sells 58,607 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

California Public Employees Retirement System reduced its holdings in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 25.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 168,317 shares of the semiconductor company's stock after selling 58,607 shares during the period. California Public Employees Retirement System owned approximately 0.12% of Enphase Energy worth $11,560,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on ENPH. Oppenheimer raised their price target on shares of Enphase Energy from $101.00 to $103.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 5th. Truist Financial reaffirmed a "hold" rating and set a $65.00 price target (down from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. Canaccord Genuity Group raised shares of Enphase Energy from a "hold" rating to a "buy" rating and raised their price target for the stock from $76.00 to $82.00 in a research report on Wednesday, February 5th. Wells Fargo & Company lowered their price target on shares of Enphase Energy from $77.00 to $75.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Enphase Energy from $112.00 to $91.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. 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 stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $89.79.

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Enphase Energy Trading Down 7.9 %

Shares of NASDAQ ENPH traded down $4.28 during midday trading on Thursday, reaching $49.86. The stock had a trading volume of 1,117,346 shares, compared to its average volume of 3,971,488. The firm has a market cap of $6.60 billion, a price-to-earnings ratio of 67.63 and a beta of 1.94. Enphase Energy, Inc. has a twelve month low of $47.48 and a twelve month high of $141.63. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The company's 50 day moving average price is $61.03 and its 200 day moving average price is $71.96.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued 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%. As a group, sell-side analysts expect that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Insider Activity at Enphase Energy

In related news, CFO Mandy Yang sold 1,319 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the transaction, the chief financial officer now owns 78,524 shares in the company, valued at $4,972,139.68. The trade was a 1.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of the business's stock in a transaction 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 owns 1,881,760 shares in the company, valued at $115,276,617.60. The trade was a 5.05 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

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.