Belpointe Asset Management LLC Makes New $787,000 Investment in Enphase Energy, Inc. (NASDAQ:ENPH)

Belpointe Asset Management LLC acquired a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,891 shares of the semiconductor company's stock, valued at approximately $787,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Enphase Energy by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company's stock worth $2,066,846,000 after acquiring an additional 192,854 shares during the period. Baillie Gifford & Co. boosted its position 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 worth $626,683,000 after acquiring an additional 2,304,408 shares during the last quarter. Swedbank AB bought a new position in shares of Enphase Energy during the 1st quarter worth approximately $424,130,000. Northern Trust Corp raised its holdings in shares of Enphase Energy by 0.3% in the fourth quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company's stock valued at $180,314,000 after purchasing an additional 3,940 shares during the last quarter. Finally, Norges Bank bought a new position in Enphase Energy in the fourth quarter valued at $149,425,000. Institutional investors own 72.12% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ENPH shares. Piper Sandler increased their price target on shares of Enphase Energy from $111.00 to $120.00 and gave the company a "neutral" rating in a report on Monday, July 22nd. Roth Mkm restated a "buy" rating and issued a $140.00 target price on shares of Enphase Energy in a research report on Wednesday, July 24th. Canaccord Genuity Group cut their target price on Enphase Energy from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 24th. Royal Bank of Canada dropped their price objective on Enphase Energy from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Wednesday, July 24th. Finally, Barclays dropped their target price on shares of Enphase Energy from $131.00 to $129.00 and set an "overweight" rating for the company in a report on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $128.89.

Enphase Energy Trading Down 3.1 %

Shares of NASDAQ ENPH traded down $3.43 during midday trading on Friday, hitting $108.65. 1,626,946 shares of the company traded hands, compared to its average volume of 3,889,740. Enphase Energy, Inc. has a 12-month low of $73.49 and a 12-month high of $141.63. The stock has a 50-day moving average price of $111.15 and a 200 day moving average price of $115.63. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. The firm has a market cap of $14.78 billion, a P/E ratio of 58.38, a P/E/G ratio of 6.22 and a beta of 1.71.

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

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the transaction, the executive vice president now owns 107,943 shares of the company's stock, valued at $13,306,133.61. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company 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.