Truist Financial Corp cut its position in Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 99.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,767 shares of the semiconductor company’s stock after selling 1,200,370 shares during the quarter. Truist Financial Corp’s holdings in Enphase Energy were worth $762,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in ENPH. CVA Family Office LLC acquired a new stake in Enphase Energy during the 4th quarter worth approximately $31,000. Parkside Financial Bank & Trust grew its stake in shares of Enphase Energy by 131.3% in the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 176 shares during the last quarter. Covestor Ltd increased its holdings in Enphase Energy by 61.6% in the third quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 133 shares during the period. Blue Trust Inc. raised its position in Enphase Energy by 194.6% during the 4th quarter. Blue Trust Inc. now owns 330 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 218 shares during the last quarter. Finally, Twin Lakes Capital Management LLC acquired a new position in Enphase Energy during the 3rd quarter worth about $48,000. 72.12% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Oppenheimer increased their price target on Enphase Energy from $133.00 to $134.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Piper Sandler restated a “neutral” rating and set a $111.00 price target (down previously from $113.00) on shares of Enphase Energy in a report on Wednesday, April 24th. Jefferies Financial Group lowered shares of Enphase Energy from a “buy” rating to a “hold” rating and reduced their price objective for the company from $135.00 to $111.00 in a research note on Wednesday, April 24th. Royal Bank of Canada lowered their target price on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Finally, Barclays raised shares of Enphase Energy from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $115.00 to $134.00 in a research report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and a consensus price target of $133.45.
Get Our Latest Research Report on Enphase Energy
Insider Buying and Selling at Enphase Energy
In related news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average cost of $120.54 per share, with a total value of $482,160.00. Following the acquisition, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Enphase Energy news, Director Steven J. Gomo sold 20,000 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $104.69, for a total value of $2,093,800.00. Following the sale, the director now directly owns 118,360 shares in the company, valued at $12,391,108.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the transaction, the chief executive officer now directly owns 1,655,171 shares in the company, valued at $199,514,312.34. The disclosure for this purchase can be found here. Insiders sold 30,000 shares of company stock worth $3,219,700 in the last quarter. 3.40% of the stock is currently owned by company insiders.
Enphase Energy Stock Up 5.7 %
Enphase Energy stock opened at $117.11 on Wednesday. Enphase Energy, Inc. has a fifty-two week low of $73.49 and a fifty-two week high of $192.22. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.78 and a current ratio of 4.16. The firm’s 50-day simple moving average is $114.72 and its 200 day simple moving average is $111.85. The stock has a market cap of $15.93 billion, a PE ratio of 60.99, a price-to-earnings-growth ratio of 3.88 and a beta of 1.50.
Enphase Energy (NASDAQ:ENPH – Get Free Report) last announced its earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.17). The business had revenue of $263.34 million during the quarter, compared to analysts’ expectations of $280.06 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. Research analysts predict that Enphase Energy, Inc. will post 1.59 EPS for the current fiscal year.
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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