PNC Financial Services Group Inc. boosted its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,970 shares of the semiconductor company’s stock after acquiring an additional 227 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Enphase Energy were worth $1,317,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in shares of Enphase Energy in the fourth quarter valued at $206,000. Legato Capital Management LLC acquired a new stake in shares of Enphase Energy in the fourth quarter valued at $1,542,000. Assenagon Asset Management S.A. increased its stake in shares of Enphase Energy by 348.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock valued at $29,525,000 after buying an additional 173,628 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Enphase Energy in the fourth quarter valued at $566,000. Finally, Glenmede Trust Co. NA increased its stake in shares of Enphase Energy by 92.7% in the third quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock valued at $380,000 after buying an additional 1,521 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.
Enphase Energy Stock Down 1.8 %
Shares of Enphase Energy stock opened at $106.67 on Friday. The business’s 50 day simple moving average is $117.71 and its 200 day simple moving average is $118.03. Enphase Energy, Inc. has a 52-week low of $73.49 and a 52-week high of $192.22. The firm has a market cap of $14.51 billion, a PE ratio of 55.56, a P/E/G ratio of 4.18 and a beta of 1.77. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.78 and a current ratio of 4.16.
Enphase Energy (NASDAQ:ENPH – Get Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.17). The company had revenue of $263.34 million for the quarter, compared to analyst estimates of $280.06 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. On average, analysts predict that Enphase Energy, Inc. will post 1.53 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $123.27, for a total transaction of $616,350.00. Following the transaction, the executive vice president now owns 107,943 shares of the company’s stock, valued at approximately $13,306,133.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Enphase Energy news, CFO Mandy Yang bought 4,000 shares of Enphase Energy stock in a transaction dated Thursday, May 2nd. The stock was bought at an average cost of $104.24 per share, for a total transaction of $416,960.00. Following the purchase, the chief financial officer now owns 62,973 shares of the company’s stock, valued at approximately $6,564,305.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the transaction, the executive vice president now owns 107,943 shares of the company’s stock, valued at $13,306,133.61. The disclosure for this sale can be found here. Insiders have sold 349,526 shares of company stock valued at $43,721,225 in the last 90 days. 3.40% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of analysts have recently weighed in on the company. Roth Mkm restated a “buy” rating and issued a $140.00 target price on shares of Enphase Energy in a research note on Wednesday, April 24th. Guggenheim cut Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 price target on the stock. in a report on Wednesday, April 24th. HSBC upgraded Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 price target on the stock in a report on Monday, June 10th. Citigroup cut Enphase Energy from a “buy” rating to a “neutral” rating and decreased their price target for the company from $126.00 to $121.00 in a report on Friday, April 5th. Finally, Canaccord Genuity Group raised their price target on Enphase Energy from $130.00 to $150.00 and gave the company a “buy” rating in a report on Friday, May 31st. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Enphase Energy has an average rating of “Hold” and a consensus price target of $136.55.
View Our Latest Research Report on Enphase Energy
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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