Pinebridge Investments L.P. Sells 49,516 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Pinebridge Investments L.P. reduced its holdings in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 65.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,485 shares of the semiconductor company's stock after selling 49,516 shares during the period. Pinebridge Investments L.P.'s holdings in Enphase Energy were worth $1,819,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ENPH. Generali Investments Towarzystwo Funduszy Inwestycyjnych boosted its holdings in Enphase Energy by 72.7% in the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 19,000 shares of the semiconductor company's stock valued at $1,305,000 after purchasing an additional 8,000 shares during the period. Norges Bank bought a new stake in shares of Enphase Energy in the fourth quarter valued at about $46,339,000. Nordea Investment Management AB grew its position in Enphase Energy by 131.6% during the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company's stock worth $155,360,000 after buying an additional 1,258,778 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Enphase Energy during the fourth quarter valued at about $5,324,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Enphase Energy in the 4th quarter valued at approximately $584,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Enphase Energy

In related news, Director Thurman J. Rodgers sold 100,000 shares of the firm's stock in a transaction 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 sale, the director now owns 1,881,760 shares of the company's stock, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the transaction, the chief financial officer now owns 78,524 shares in the company, valued at approximately $4,972,139.68. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

Enphase Energy Trading Up 2.4 %

ENPH opened at $46.83 on Monday. Enphase Energy, Inc. has a fifty-two week low of $44.83 and a fifty-two week high of $141.63. The company has a market cap of $6.14 billion, a price-to-earnings ratio of 63.28 and a beta of 1.94. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The firm has a 50 day simple moving average of $57.84 and a 200 day simple moving average of $66.80.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share 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%. On average, sell-side analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ENPH. Oppenheimer set a $84.00 price objective on Enphase Energy and gave the company an "outperform" rating in a research report on Wednesday. Citigroup reaffirmed a "sell" rating and set a $47.00 price objective on shares of Enphase Energy in a report on Thursday, April 17th. DZ Bank cut shares of Enphase Energy from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 23rd. Canaccord Genuity Group cut their price target on shares of Enphase Energy from $70.00 to $58.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Craig Hallum lowered their price objective on Enphase Energy from $123.00 to $101.00 and set a "buy" rating on the stock in a research note on Wednesday, February 5th. Seven equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $70.54.

Enphase Energy 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.

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