PNC Financial Services Group Inc. Sells 5,814 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

PNC Financial Services Group Inc. decreased its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 36.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,271 shares of the semiconductor company's stock after selling 5,814 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Enphase Energy were worth $705,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Avior Wealth Management LLC grew its holdings in shares of Enphase Energy by 6,975.0% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 279 shares in the last quarter. Stone House Investment Management LLC purchased a new position in shares of Enphase Energy during the third quarter worth about $34,000. Quarry LP purchased a new stake in Enphase Energy in the third quarter worth approximately $37,000. Venturi Wealth Management LLC boosted its stake in Enphase Energy by 318.1% in the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock worth $46,000 after buying an additional 509 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Enphase Energy in the third quarter worth approximately $55,000. Hedge funds and other institutional investors own 72.12% of the company's stock.

Insider Transactions at Enphase Energy

In related news, CFO Mandy Yang sold 1,319 shares of the stock in a transaction on 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 directly owns 78,524 shares of the company's stock, valued at $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction on 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.40% of the company's stock.

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Enphase Energy Stock Down 0.2 %

Shares of NASDAQ ENPH traded down $0.15 during trading on Friday, reaching $61.54. The company had a trading volume of 5,258,699 shares, compared to its average volume of 3,922,204. Enphase Energy, Inc. has a 12-month low of $51.63 and a 12-month high of $141.63. The stock has a market cap of $8.15 billion, a PE ratio of 83.16 and a beta of 2.12. The business's 50-day moving average is $62.60 and its 200 day moving average is $77.56. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44.

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

Analysts Set New Price Targets

Several brokerages have issued reports on ENPH. Craig Hallum cut their target price on Enphase Energy from $123.00 to $101.00 and set a "buy" rating for the company in a research note on Wednesday, February 5th. Oppenheimer boosted their price objective on Enphase Energy from $101.00 to $103.00 and gave the company an "outperform" rating in a research report on Wednesday, February 5th. Canaccord Genuity Group upgraded Enphase Energy from a "hold" rating to a "buy" rating and boosted their price objective for the company from $76.00 to $82.00 in a research report on Wednesday, February 5th. OTR Global upgraded Enphase Energy from a "negative" rating to a "mixed" rating in a research report on Friday, December 20th. Finally, Glj Research reiterated a "sell" rating and issued a $50.69 price objective on shares of Enphase Energy in a research report on Tuesday, February 4th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $90.42.

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.