Inspire Investing LLC bought a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Get Rating) during the 3rd quarter, HoldingsChannel reports. The firm bought 14,711 shares of the semiconductor company's stock, valued at approximately $4,082,000. Enphase Energy comprises approximately 0.6% of Inspire Investing LLC's holdings, making the stock its 27th largest position.
Other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its position in shares of Enphase Energy by 5.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 15,714 shares of the semiconductor company's stock worth $4,366,000 after purchasing an additional 814 shares during the period. Bridgecreek Investment Management LLC lifted its holdings in Enphase Energy by 47.2% during the third quarter. Bridgecreek Investment Management LLC now owns 2,540 shares of the semiconductor company's stock worth $705,000 after buying an additional 815 shares during the period. TD Asset Management Inc. boosted its position in Enphase Energy by 7.1% during the 3rd quarter. TD Asset Management Inc. now owns 45,490 shares of the semiconductor company's stock valued at $12,639,000 after acquiring an additional 3,032 shares in the last quarter. D.A. Davidson & CO. purchased a new position in shares of Enphase Energy in the 3rd quarter valued at $209,000. Finally, EFG Asset Management Americas Corp. raised its position in shares of Enphase Energy by 9.4% in the 3rd quarter. EFG Asset Management Americas Corp. now owns 8,675 shares of the semiconductor company's stock worth $2,407,000 after acquiring an additional 749 shares in the last quarter. Hedge funds and other institutional investors own 73.79% of the company's stock.
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Enphase Energy Price Performance
Shares of NASDAQ ENPH opened at $210.09 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.60 and a quick ratio of 3.34. The stock has a market capitalization of $28.56 billion, a price-to-earnings ratio of 101.01, a PEG ratio of 1.13 and a beta of 1.38. The firm's 50 day simple moving average is $278.91 and its 200-day simple moving average is $278.15. Enphase Energy, Inc. has a 12 month low of $113.97 and a 12 month high of $339.92.
Analyst Ratings Changes
ENPH has been the topic of several analyst reports. Wells Fargo & Company cut their target price on Enphase Energy from $344.00 to $326.00 and set an "overweight" rating on the stock in a research note on Friday, January 6th. Cowen boosted their price objective on shares of Enphase Energy from $278.00 to $335.00 in a research note on Wednesday, October 26th. B. Riley increased their target price on shares of Enphase Energy from $217.00 to $242.00 in a research report on Wednesday, October 26th. Needham & Company LLC lifted their price target on shares of Enphase Energy from $275.00 to $335.00 and gave the stock a "buy" rating in a report on Wednesday, October 26th. Finally, Barclays increased their price objective on Enphase Energy from $292.00 to $311.00 and gave the company an "equal weight" rating in a report on Wednesday, October 26th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $310.82.
Insider Activity at Enphase Energy
In other Enphase Energy news, CEO Badrinarayanan Kothandaraman sold 36,327 shares of Enphase Energy stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $327.65, for a total value of $11,902,541.55. Following the completion of the transaction, the chief executive officer now owns 1,131,459 shares of the company's stock, valued at $370,722,541.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Badrinarayanan Kothandaraman sold 36,327 shares of the company's stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $327.65, for a total value of $11,902,541.55. Following the completion of the transaction, the chief executive officer now owns 1,131,459 shares of the company's stock, valued at approximately $370,722,541.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David A. Ranhoff sold 7,500 shares of the firm's stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $303.43, for a total value of $2,275,725.00. Following the completion of the sale, the executive vice president now directly owns 85,402 shares in the company, valued at $25,913,528.86. The disclosure for this sale can be found here. Insiders sold a total of 178,674 shares of company stock worth $56,558,342 in the last three months. Company insiders own 4.80% of the company's stock.
Enphase Energy Profile
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Enphase Energy, Inc engages in the design, development, manufacture and sale of micro inverter systems for the solar photovoltaic industry. Its products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps. The company was founded by Raghuveer R.
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