Quantbot Technologies LP Purchases New Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Quantbot Technologies LP purchased a new stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 44,610 shares of the semiconductor company's stock, valued at approximately $3,064,000.

A number of other hedge funds also recently bought and sold shares of ENPH. Blueshift Asset Management LLC purchased a new position in Enphase Energy during the 4th quarter worth approximately $392,000. Royal London Asset Management Ltd. grew its holdings in shares of Enphase Energy by 13.4% during the 4th quarter. Royal London Asset Management Ltd. now owns 64,467 shares of the semiconductor company's stock valued at $4,428,000 after acquiring an additional 7,615 shares in the last quarter. Cibc World Markets Corp boosted its position in Enphase Energy by 15.6% during the fourth quarter. Cibc World Markets Corp now owns 21,304 shares of the semiconductor company's stock valued at $1,463,000 after purchasing an additional 2,869 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of Enphase Energy by 116.9% during the 4th quarter. Natixis Advisors LLC now owns 24,421 shares of the semiconductor company's stock worth $1,677,000 after purchasing an additional 13,160 shares in the last quarter. Finally, Stelac Advisory Services LLC acquired a new position in Enphase Energy in the fourth quarter worth approximately $1,571,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Price Performance

Shares of NASDAQ ENPH traded up $0.56 during mid-day trading on Thursday, hitting $60.71. 1,941,642 shares of the stock were exchanged, compared to its average volume of 3,911,262. Enphase Energy, Inc. has a twelve month low of $51.63 and a twelve month high of $141.63. The stock's fifty day simple moving average is $62.34 and its two-hundred day simple moving average is $76.27. 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 company has a market cap of $8.04 billion, a P/E ratio of 82.04 and a beta of 2.12.

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Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) 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%. As a group, analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

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 completion of the sale, the director now directly owns 1,881,760 shares in the company, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction 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 represents 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.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Truist Financial reaffirmed a "hold" rating and issued a $65.00 price objective (down previously from $100.00) on shares of Enphase Energy in a research note on Thursday, January 16th. JPMorgan Chase & Co. lowered their price target on Enphase Energy from $112.00 to $91.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company decreased their price target on shares of Enphase Energy from $77.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday. Glj Research restated a "sell" rating and set a $50.69 target price on shares of Enphase Energy in a research note on Tuesday, February 4th. Finally, Guggenheim upgraded Enphase Energy from a "sell" rating to a "neutral" rating and set a $62.00 price target for the company in a report on Friday, January 31st. 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $90.36.

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.