Enphase Energy, Inc. (NASDAQ:ENPH) Stock Position Cut by Prudential Financial Inc.

Prudential Financial Inc. cut its holdings in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 13.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 68,788 shares of the semiconductor company's stock after selling 11,093 shares during the period. Prudential Financial Inc. owned 0.05% of Enphase Energy worth $4,305,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ENPH. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its stake in Enphase Energy by 72.7% in the fourth 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 last quarter. Nordea Investment Management AB grew its holdings in Enphase Energy by 131.6% in the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company's stock valued at $155,360,000 after buying an additional 1,258,778 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Enphase Energy during the 4th quarter valued at about $5,324,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Enphase Energy during the 4th quarter worth about $584,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Enphase Energy by 6.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 937,016 shares of the semiconductor company's stock worth $64,354,000 after acquiring an additional 56,676 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Enphase Energy Stock Down 6.0 %

Shares of ENPH stock traded down $3.75 during trading hours on Thursday, hitting $58.77. 4,308,506 shares of the company were exchanged, compared to its average volume of 3,958,865. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of 79.42 and a beta of 2.12. Enphase Energy, Inc. has a one year low of $51.63 and a one year high of $141.63. The business's 50-day simple moving average is $62.23 and its two-hundred day simple moving average is $74.70.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS 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%. Sell-side analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Insider Buying and Selling at Enphase Energy

In related news, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the sale, the director now owns 1,881,760 shares of the company's stock, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $4,972,139.68. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Truist Financial reaffirmed a "hold" rating and set a $65.00 price target (down previously from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. JPMorgan Chase & Co. dropped their price objective on Enphase Energy from $112.00 to $91.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. Jefferies Financial Group reduced their target price on Enphase Energy from $54.00 to $44.00 and set an "underperform" rating on the stock in a report on Thursday. Morgan Stanley dropped their price target on Enphase Energy from $68.00 to $67.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 5th. Finally, Piper Sandler reduced their price objective on Enphase Energy from $70.00 to $65.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Enphase Energy currently has a consensus rating of "Hold" and an average price target of $89.79.

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.