Gateway Investment Advisers LLC Sells 708 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Gateway Investment Advisers LLC trimmed its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 25.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,023 shares of the semiconductor company’s stock after selling 708 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Enphase Energy were worth $245,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ENPH. Vanguard Group Inc. grew its stake in Enphase Energy by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock valued at $2,066,846,000 after buying an additional 192,854 shares during the last quarter. Baillie Gifford & Co. grew its stake in Enphase Energy by 387,343.1% in the 4th quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after buying an additional 4,078,723 shares during the last quarter. Northern Trust Corp grew its stake in Enphase Energy by 0.3% in the 4th quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock valued at $180,314,000 after buying an additional 3,940 shares during the last quarter. Norges Bank acquired a new position in Enphase Energy in the 4th quarter valued at about $149,425,000. Finally, Schroder Investment Management Group grew its stake in Enphase Energy by 3.3% in the 3rd quarter. Schroder Investment Management Group now owns 1,124,265 shares of the semiconductor company’s stock valued at $135,080,000 after buying an additional 35,681 shares during the last quarter. 72.12% of the stock is owned by institutional investors.

Enphase Energy Price Performance

ENPH stock opened at $102.95 on Thursday. The company has a fifty day moving average price of $117.26 and a 200-day moving average price of $118.00. The company has a market capitalization of $14.01 billion, a P/E ratio of 53.62, a PEG ratio of 4.02 and a beta of 1.77. Enphase Energy, Inc. has a 52-week low of $73.49 and a 52-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.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.17). The business had revenue of $263.34 million for the quarter, compared to the consensus estimate of $280.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. As a group, equities analysts expect that Enphase Energy, Inc. will post 1.49 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Truist Financial decreased their target price on shares of Enphase Energy from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Guggenheim lowered shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 target price on the stock. in a research report on Wednesday, April 24th. BMO Capital Markets decreased their target price on shares of Enphase Energy from $118.00 to $113.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 24th. B. Riley increased their target price on shares of Enphase Energy from $121.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Finally, DZ Bank assumed coverage on shares of Enphase Energy in a research report on Wednesday, April 17th. They set a “hold” rating and a $116.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $136.55.

Insider Activity

In other news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $123.27, for a total transaction of $616,350.00. Following the completion of the transaction, the executive vice president now owns 107,943 shares of the company’s stock, valued at $13,306,133.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Mandy Yang purchased 4,000 shares of Enphase Energy stock in a transaction on Thursday, May 2nd. The stock was acquired at an average cost of $104.24 per share, for a total transaction of $416,960.00. Following the completion of the acquisition, 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 filing with the SEC, which is available at this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction 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 completion of the sale, 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. Over the last 90 days, insiders sold 349,526 shares of company stock valued at $43,721,225. Insiders own 3.40% of the company’s stock.

About Enphase Energy

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.