Prudential PLC Sells 59,354 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Prudential PLC decreased its position in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 90.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,159 shares of the semiconductor company's stock after selling 59,354 shares during the quarter. Prudential PLC's holdings in Enphase Energy were worth $423,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Enphase Energy by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company's stock worth $1,135,707,000 after buying an additional 44,782 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of Enphase Energy by 32.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company's stock worth $574,975,000 after purchasing an additional 2,028,691 shares during the period. Geode Capital Management LLC raised its position in shares of Enphase Energy by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company's stock valued at $234,994,000 after buying an additional 47,593 shares in the last quarter. 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. Finally, Schroder Investment Management Group raised its holdings in Enphase Energy by 29.6% in the 4th quarter. Schroder Investment Management Group now owns 1,451,414 shares of the semiconductor company's stock valued at $99,683,000 after acquiring an additional 331,917 shares in the last quarter. Institutional investors own 72.12% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ENPH shares. Morgan Stanley reduced their price objective on shares of Enphase Energy from $68.00 to $67.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. BMO Capital Markets dropped their price objective on shares of Enphase Energy from $69.00 to $66.00 and set a "market perform" rating for the company in a report on Wednesday, February 5th. JPMorgan Chase & Co. lowered their price objective on Enphase Energy from $112.00 to $91.00 and set an "overweight" rating for the company in a research report on Thursday, January 23rd. Oppenheimer upped their target price on Enphase Energy from $101.00 to $103.00 and gave the company an "outperform" rating in a report on Wednesday, February 5th. Finally, Susquehanna lowered their price target on shares of Enphase Energy from $79.00 to $76.00 and set a "neutral" rating for the company in a report on Wednesday, February 5th. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Enphase Energy has a consensus rating of "Hold" and a consensus price target of $89.06.

Insider Activity at Enphase Energy

In other news, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction 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 directly owns 78,524 shares of the company's stock, valued at approximately $4,972,139.68. The trade was a 1.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thurman J. Rodgers sold 100,000 shares of the firm's 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 in the company, valued at $115,276,617.60. The trade was a 5.05 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH traded up $2.27 during midday trading on Monday, reaching $54.16. 510,346 shares of the company traded hands, compared to its average volume of 3,977,264. Enphase Energy, Inc. has a 12 month low of $47.48 and a 12 month high of $141.63. The firm's fifty day moving average price is $60.46 and its two-hundred day moving average price is $70.77. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of 73.19 and a beta of 1.94.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. On average, equities analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current 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.