Legal & General Group Plc Has $97.05 Million Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Legal & General Group Plc reduced its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 20.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,413,083 shares of the semiconductor company's stock after selling 362,167 shares during the quarter. Legal & General Group Plc owned 1.05% of Enphase Energy worth $97,051,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ENPH. Venturi Wealth Management LLC raised its holdings in shares of Enphase Energy by 318.1% in the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock valued at $46,000 after purchasing an additional 509 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Enphase Energy in the fourth quarter valued at approximately $47,000. Sava Infond d.o.o. acquired a new position in shares of Enphase Energy during the 4th quarter worth approximately $69,000. Avior Wealth Management LLC boosted its holdings in shares of Enphase Energy by 269.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,045 shares of the semiconductor company's stock valued at $72,000 after buying an additional 762 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of Enphase Energy in the fourth quarter valued at $96,000. 72.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ENPH. Craig Hallum cut their price target on shares of 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 lifted their price target on Enphase Energy from $101.00 to $103.00 and gave the stock an "outperform" rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price objective on Enphase Energy from $112.00 to $91.00 and set an "overweight" rating on the stock in a research note on Thursday, January 23rd. Truist Financial reiterated a "hold" rating and set a $65.00 target price (down from $100.00) on shares of Enphase Energy in a research note on Thursday, January 16th. Finally, Wells Fargo & Company dropped their price target on Enphase Energy from $77.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. 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 MarketBeat.com, Enphase Energy has an average rating of "Hold" and a consensus price target of $88.49.

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Enphase Energy Trading Down 2.7 %

NASDAQ ENPH traded down $1.48 on Tuesday, hitting $53.07. The company's stock had a trading volume of 2,547,173 shares, compared to its average volume of 3,980,695. The firm has a market cap of $7.03 billion, a PE ratio of 71.72 and a beta of 1.94. The company's 50-day moving average is $59.97 and its 200 day moving average is $70.23. 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, 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 released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, beating 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, analysts predict that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Insider Activity

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the 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 transaction, the director now directly owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. This represents a 5.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mandy Yang sold 1,319 shares of Enphase Energy 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 completion of the sale, the chief financial officer now owns 78,524 shares of the company's stock, valued at $4,972,139.68. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.40% of the company's stock.

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.