Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by ING Groep NV

ING Groep NV cut its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 92.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,945 shares of the semiconductor company's stock after selling 104,398 shares during the quarter. ING Groep NV's holdings in Enphase Energy were worth $1,011,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB bought a new stake in Enphase Energy in the first quarter valued at approximately $424,130,000. Baillie Gifford & Co. grew its stake in Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company's stock valued at $626,683,000 after purchasing an additional 2,304,408 shares during the last quarter. Electron Capital Partners LLC boosted its stake in shares of Enphase Energy by 1,021.4% in the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company's stock worth $118,028,000 after buying an additional 1,078,154 shares during the last quarter. Anomaly Capital Management LP acquired a new position in shares of Enphase Energy during the second quarter valued at approximately $51,582,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Enphase Energy in the first quarter valued at approximately $59,128,000. Institutional investors own 72.12% of the company's stock.

Enphase Energy Trading Up 4.8 %

Enphase Energy stock traded up $2.88 during trading on Monday, hitting $62.40. The company had a trading volume of 7,237,981 shares, compared to its average volume of 4,056,625. Enphase Energy, Inc. has a 1-year low of $58.33 and a 1-year high of $141.63. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. The company's 50 day simple moving average is $95.27 and its 200-day simple moving average is $107.77. The stock has a market cap of $8.43 billion, a price-to-earnings ratio of 135.27, a price-to-earnings-growth ratio of 18.20 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $0.77 by ($0.12). The company had revenue of $380.90 million during the quarter, compared to analysts' expectations of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. Enphase Energy's revenue was down 30.9% on a year-over-year basis. During the same period last year, the firm earned $0.84 earnings per share. As a group, analysts expect that Enphase Energy, Inc. will post 0.91 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on ENPH shares. Jefferies Financial Group cut Enphase Energy from a "hold" rating to an "underperform" rating and cut their target price for the stock from $93.00 to $61.00 in a research report on Thursday, November 7th. Barclays dropped their price target on shares of Enphase Energy from $129.00 to $114.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Truist Financial decreased their price objective on shares of Enphase Energy from $130.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, October 16th. Susquehanna cut their price objective on shares of Enphase Energy from $104.00 to $85.00 and set a "neutral" rating on the stock in a research note on Thursday, October 24th. Finally, Janney Montgomery Scott lowered Enphase Energy from a "buy" rating to a "neutral" rating and set a $83.00 price target for the company. in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $102.76.

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.