PNC Financial Services Group Inc. reduced its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 42.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,743 shares of the semiconductor company’s stock after selling 7,296 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Enphase Energy were worth $1,171,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its stake in Enphase Energy by 1,400.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 150 shares of the semiconductor company’s stock worth $25,000 after buying an additional 140 shares during the period. KB Financial Partners LLC purchased a new stake in shares of Enphase Energy in the first quarter worth approximately $28,000. First Capital Advisors Group LLC. purchased a new stake in shares of Enphase Energy in the second quarter worth approximately $28,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Enphase Energy in the fourth quarter worth approximately $29,000. Finally, VisionPoint Advisory Group LLC purchased a new stake in shares of Enphase Energy in the second quarter worth approximately $33,000. 71.05% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, Director Richard Mora sold 24,285 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the sale, the director now owns 3,126 shares in the company, valued at $376,964.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.80% of the stock is currently owned by company insiders.
Enphase Energy Trading Down 4.3 %
NASDAQ:ENPH opened at $118.19 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19. Enphase Energy, Inc. has a 1 year low of $73.49 and a 1 year high of $231.42. The company has a market cap of $16.05 billion, a P/E ratio of 38.62, a P/E/G ratio of 3.36 and a beta of 1.48. The stock’s fifty day moving average price is $119.18 and its two-hundred day moving average price is $114.23.
Analyst Upgrades and Downgrades
ENPH has been the subject of several analyst reports. BMO Capital Markets increased their price objective on Enphase Energy from $106.00 to $110.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. Morgan Stanley increased their price objective on Enphase Energy from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. KeyCorp reissued a “sector weight” rating on shares of Enphase Energy in a research note on Thursday, January 4th. Truist Financial raised Enphase Energy from a “hold” rating to a “buy” rating and upped their target price for the company from $85.00 to $145.00 in a report on Tuesday, January 23rd. Finally, Wells Fargo & Company raised Enphase Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $98.00 to $141.00 in a report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Enphase Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.66.
View Our Latest Stock Report on ENPH
Enphase Energy Profile
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.
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