First Trust Advisors LP Sells 76,143 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

First Trust Advisors LP reduced its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 980,301 shares of the semiconductor company's stock after selling 76,143 shares during the period. First Trust Advisors LP owned 0.74% of Enphase Energy worth $67,327,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 78,524 shares in the company, valued at approximately $4,972,139.68. This represents a 1.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thurman J. Rodgers sold 100,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the sale, the director now directly owns 1,881,760 shares of the company's stock, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.10% of the company's stock.

Enphase Energy Price Performance

Enphase Energy stock opened at $53.43 on Wednesday. The stock's 50 day moving average is $58.95 and its 200 day moving average is $68.26. Enphase Energy, Inc. has a one year low of $47.10 and a one year high of $141.63. The firm has a market cap of $7.08 billion, a P/E ratio of 72.20 and a beta of 1.94. 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 (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, research analysts expect that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ENPH shares. Citigroup restated a "sell" rating and issued a $47.00 price target on shares of Enphase Energy in a research note on Thursday, April 17th. Glj Research reiterated a "sell" rating and issued a $50.69 price target on shares of Enphase Energy in a research note on Tuesday, February 4th. Craig Hallum lowered their price objective on Enphase Energy from $123.00 to $101.00 and set a "buy" rating on the stock in a research note on Wednesday, February 5th. TD Cowen cut their target price on Enphase Energy from $94.00 to $78.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Wells Fargo & Company decreased their price target on Enphase Energy from $77.00 to $75.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $79.85.

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.

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