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Enphase Energy, Inc. (NASDAQ:ENPH) Position Increased by Veriti Management LLC

Defense World ·  09/28 18:12

Veriti Management LLC lifted its position in Enphase Energy, Inc. (NASDAQ:ENPH – Get Rating) by 42.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,962 shares of the semiconductor company's stock after acquiring an additional 882 shares during the period. Veriti Management LLC's holdings in Enphase Energy were worth $578,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ENPH. Elequin Capital LP acquired a new stake in Enphase Energy during the 1st quarter valued at $26,000. KB Financial Partners LLC purchased a new position in Enphase Energy in the first quarter valued at about $28,000. AlphaCentric Advisors LLC acquired a new position in Enphase Energy in the 4th quarter worth about $27,000. Lindbrook Capital LLC raised its position in Enphase Energy by 58.0% during the first quarter. Lindbrook Capital LLC now owns 158 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 58 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. raised its holdings in shares of Enphase Energy by 780.0% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 176 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 156 shares in the last quarter. Institutional investors and hedge funds own 71.22% of the company's stock.

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Insider Activity

In related news, CEO Badrinarayanan Kothandaraman sold 82,835 shares of the company's stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $301.02, for a total value of $24,934,991.70. Following the sale, the chief executive officer now owns 1,131,216 shares in the company, valued at approximately $340,518,640.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Badrinarayanan Kothandaraman sold 82,835 shares of the company's stock in a transaction on Friday, September 9th. The shares were sold at an average price of $301.02, for a total value of $24,934,991.70. Following the completion of the transaction, the chief executive officer now owns 1,131,216 shares of the company's stock, valued at approximately $340,518,640.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David A. Ranhoff sold 5,369 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $293.03, for a total value of $1,573,278.07. Following the transaction, the executive vice president now directly owns 92,902 shares of the company's stock, valued at $27,223,073.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,621 shares of company stock valued at $48,543,642. Company insiders own 4.80% of the company's stock.

Enphase Energy Trading Up 3.6 %

NASDAQ:ENPH opened at $284.81 on Wednesday. The firm has a 50-day moving average price of $285.75 and a two-hundred day moving average price of $220.03. The company has a debt-to-equity ratio of 2.66, a quick ratio of 3.35 and a current ratio of 3.62. Enphase Energy, Inc. has a 52 week low of $113.40 and a 52 week high of $324.84. The firm has a market cap of $38.58 billion, a price-to-earnings ratio of 199.17, a price-to-earnings-growth ratio of 2.04 and a beta of 1.51.

Enphase Energy (NASDAQ:ENPH – Get Rating) last issued its quarterly earnings results on Tuesday, July 26th. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.15. Enphase Energy had a return on equity of 56.60% and a net margin of 11.71%. The firm had revenue of $530.20 million during the quarter, compared to the consensus estimate of $506.57 million. On average, equities analysts expect that Enphase Energy, Inc. will post 2.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ENPH shares. Oppenheimer boosted their target price on Enphase Energy to $315.00 and gave the stock an "outperform" rating in a report on Wednesday, July 27th. Needham & Company LLC upped their price target on Enphase Energy from $255.00 to $275.00 and gave the stock a "buy" rating in a report on Wednesday, July 27th. The Goldman Sachs Group upped their price objective on shares of Enphase Energy from $290.00 to $328.00 and gave the company a "buy" rating in a research report on Thursday, September 8th. JPMorgan Chase & Co. raised their target price on Enphase Energy from $261.00 to $321.00 and gave the stock an "overweight" rating in a research report on Monday, August 8th. Finally, Truist Financial increased their price target on shares of Enphase Energy to $265.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 27th. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $273.17.

About Enphase Energy

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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 services.

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