DAVENPORT & Co LLC raised its holdings in Enphase Energy, Inc. (NASDAQ:ENPH – Get Rating) by 361.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,318 shares of the semiconductor company's stock after purchasing an additional 8,082 shares during the quarter. DAVENPORT & Co LLC's holdings in Enphase Energy were worth $2,014,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of ENPH. Lindbrook Capital LLC lifted its holdings in Enphase Energy by 58.0% during the 1st quarter. Lindbrook Capital LLC now owns 158 shares of the semiconductor company's stock worth $32,000 after buying an additional 58 shares during the period. Mutual of America Capital Management LLC lifted its holdings in Enphase Energy by 0.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 17,876 shares of the semiconductor company's stock worth $3,607,000 after buying an additional 61 shares during the period. Harbor Investment Advisory LLC lifted its holdings in Enphase Energy by 2.8% during the 2nd quarter. Harbor Investment Advisory LLC now owns 2,408 shares of the semiconductor company's stock worth $470,000 after buying an additional 66 shares during the period. Parallel Advisors LLC lifted its holdings in Enphase Energy by 7.1% during the 1st quarter. Parallel Advisors LLC now owns 1,027 shares of the semiconductor company's stock worth $202,000 after buying an additional 68 shares during the period. Finally, CVA Family Office LLC lifted its holdings in Enphase Energy by 56.0% during the 1st quarter. CVA Family Office LLC now owns 195 shares of the semiconductor company's stock worth $39,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 71.22% of the company's stock.
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In other Enphase Energy news, CFO Mandy Yang sold 1,687 shares of the business's stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $292.96, for a total transaction of $494,223.52. Following the completion of the sale, the chief financial officer now directly owns 107,149 shares of the company's stock, valued at approximately $31,390,371.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Mandy Yang sold 1,687 shares of the business's stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $292.96, for a total value of $494,223.52. Following the transaction, the chief financial officer now owns 107,149 shares in the company, valued at approximately $31,390,371.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Badrinarayanan Kothandaraman sold 82,835 shares of the business'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 completion of the transaction, the chief executive officer now owns 1,131,216 shares in the company, valued at approximately $340,518,640.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 164,621 shares of company stock valued at $48,543,642. Corporate insiders own 4.80% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on ENPH shares. BMO Capital Markets lifted their target price on Enphase Energy from $215.00 to $240.00 in a report on Friday, June 10th. Credit Suisse Group raised Enphase Energy from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $174.00 to $281.00 in a research report on Thursday, July 28th. Guggenheim lowered Enphase Energy from a "buy" rating to a "neutral" rating in a research report on Friday, September 9th. B. Riley lifted their price objective on Enphase Energy from $171.00 to $217.00 in a research report on Wednesday, July 27th. Finally, Oppenheimer lifted their price objective on Enphase Energy to $315.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 27th. Six equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Enphase Energy presently has a consensus rating of "Moderate Buy" and an average target price of $273.17.Enphase Energy Stock Performance
Shares of ENPH opened at $284.81 on Wednesday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 3.35 and a current ratio of 3.62. The stock has a 50 day moving average price of $285.75 and a two-hundred day moving average price of $220.03. The firm has a market capitalization of $38.58 billion, a P/E ratio of 199.17, a P/E/G ratio of 2.04 and a beta of 1.51. Enphase Energy, Inc. has a 52 week low of $113.40 and a 52 week high of $324.84.
Enphase Energy (NASDAQ:ENPH – Get Rating) last issued its quarterly earnings data on Tuesday, July 26th. The semiconductor company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.15. The firm had revenue of $530.20 million during the quarter, compared to analyst estimates of $506.57 million. Enphase Energy had a return on equity of 56.60% and a net margin of 11.71%. Equities analysts forecast that Enphase Energy, Inc. will post 2.9 earnings per share for the current fiscal year.
Enphase Energy Profile
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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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