674,703 Shares in Enphase Energy, Inc. (NASDAQ:ENPH) Acquired by Norges Bank

Norges Bank acquired a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 674,703 shares of the semiconductor company's stock, valued at approximately $46,339,000. Norges Bank owned approximately 0.50% of Enphase Energy at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Public Sector Pension Investment Board lifted its holdings in shares of Enphase Energy by 11.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 5,821 shares of the semiconductor company's stock worth $658,000 after buying an additional 600 shares during the period. Investment Management Corp of Ontario raised its holdings in shares of Enphase Energy by 106.8% in the 3rd quarter. Investment Management Corp of Ontario now owns 6,379 shares of the semiconductor company's stock valued at $721,000 after purchasing an additional 3,294 shares in the last quarter. Royal London Asset Management Ltd. lifted its position in shares of Enphase Energy by 9.2% in the 3rd quarter. Royal London Asset Management Ltd. now owns 56,852 shares of the semiconductor company's stock worth $6,425,000 after purchasing an additional 4,789 shares during the period. Quarry LP purchased a new position in Enphase Energy during the third quarter valued at approximately $37,000. Finally, Two Sigma Advisers LP lifted its holdings in Enphase Energy by 168.3% during the third quarter. Two Sigma Advisers LP now owns 452,009 shares of the semiconductor company's stock worth $51,086,000 after buying an additional 283,509 shares during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In related news, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the sale, the director now directly owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. The trade was a 5.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the sale, the chief financial officer now owns 78,524 shares of the company's stock, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.40% of the company's stock.

Wall Street Analyst Weigh In

ENPH has been the subject of several recent research reports. Susquehanna reduced their price target on Enphase Energy from $79.00 to $76.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. Canaccord Genuity Group raised shares of Enphase Energy from a "hold" rating to a "buy" rating and increased their price target for the company from $76.00 to $82.00 in a research report on Wednesday, February 5th. Barclays cut their price objective on shares of Enphase Energy from $91.00 to $86.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Truist Financial reissued a "hold" rating and set a $65.00 target price (down previously from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group cut their price target on shares of Enphase Energy from $121.00 to $105.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Enphase Energy has an average rating of "Hold" and an average price target of $89.79.

Enphase Energy Price Performance

Shares of Enphase Energy stock traded up $4.61 on Wednesday, hitting $54.13. The company's stock had a trading volume of 7,730,047 shares, compared to its average volume of 3,982,188. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 73.15 and a beta of 1.94. The firm has a fifty day moving average price of $61.03 and a 200-day moving average price of $71.96. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. Enphase Energy, Inc. has a 1 year low of $47.57 and a 1 year high of $141.63.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

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.