Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 82.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,922 shares of the semiconductor company's stock after selling 89,752 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Enphase Energy were worth $1,887,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Enphase Energy by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company's stock worth $2,066,846,000 after buying an additional 192,854 shares during the period. Baillie Gifford & Co. raised its stake in shares of Enphase Energy by 57.9% during the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company's stock valued at $626,683,000 after acquiring an additional 2,304,408 shares in the last quarter. Swedbank AB purchased a new stake in shares of Enphase Energy in the first quarter valued at approximately $424,130,000. Northern Trust Corp grew its stake in Enphase Energy by 0.3% in the fourth quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company's stock worth $180,314,000 after purchasing an additional 3,940 shares in the last quarter. Finally, Norges Bank purchased a new position in Enphase Energy during the 4th quarter worth $149,425,000. Institutional investors own 72.12% of the company's stock.

Enphase Energy Stock Performance

Shares of ENPH stock traded up $0.20 on Wednesday, hitting $113.11. The company had a trading volume of 1,363,055 shares, compared to its average volume of 3,918,929. The firm has a market cap of $15.39 billion, a P/E ratio of 58.91, a price-to-earnings-growth ratio of 6.22 and a beta of 1.71. Enphase Energy, Inc. has a twelve month low of $73.49 and a twelve month high of $141.63. The company has a 50-day moving average price of $111.01 and a 200-day moving average price of $115.65. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). The company had revenue of $303.80 million during the quarter, compared to analyst estimates of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The company's revenue was down 57.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 earnings per share. As a group, equities research analysts predict that Enphase Energy, Inc. will post 1.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ENPH. Jefferies Financial Group reiterated a "hold" rating and issued a $115.00 target price (up from $111.00) on shares of Enphase Energy in a report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Enphase Energy from $124.00 to $130.00 and gave the stock an "overweight" rating in a report on Tuesday, July 16th. BMO Capital Markets raised their target price on shares of Enphase Energy from $110.00 to $115.00 and gave the company a "market perform" rating in a research report on Wednesday, July 24th. Craig Hallum upped their price target on shares of Enphase Energy from $147.00 to $153.00 and gave the stock a "buy" rating in a research report on Wednesday, July 24th. Finally, Bank of America cut their price objective on shares of Enphase Energy from $71.00 to $70.00 and set an "underperform" rating on the stock in a report on Wednesday, July 17th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Enphase Energy currently has a consensus rating of "Hold" and a consensus price target of $128.89.

Insider Activity at Enphase Energy

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the company's stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $123.27, for a total value of $616,350.00. Following the completion of the transaction, the executive vice president now owns 107,943 shares in the company, valued at $13,306,133.61. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.40% of the stock is owned by company insiders.

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.