Proficio Capital Partners LLC Invests $1.53 Million in Enphase Energy, Inc. (NASDAQ:ENPH)

Proficio Capital Partners LLC bought a new position in Enphase Energy, Inc. (NASDAQ:ENPH) during the 4th quarter, HoldingsChannel.com reports. The fund bought 22,252 shares of the semiconductor company’s stock, valued at approximately $1,528,000.

Several other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. increased its position in shares of Enphase Energy by 32.0% in the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock worth $574,975,000 after acquiring an additional 2,028,691 shares in the last quarter. Swedbank AB grew its position in Enphase Energy by 0.3% during the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after purchasing an additional 11,890 shares in the last quarter. Geode Capital Management LLC grew its position in Enphase Energy by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock valued at $381,030,000 after purchasing an additional 20,579 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Enphase Energy by 6.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock valued at $265,609,000 after purchasing an additional 142,491 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Enphase Energy by 131.6% during the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after purchasing an additional 1,258,778 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Stock Performance

Enphase Energy stock opened at $61.69 on Friday. The business has a 50 day moving average of $62.70 and a 200-day moving average of $77.97. Enphase Energy, Inc. has a 1 year low of $51.63 and a 1 year high of $141.63. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The company has a market capitalization of $8.17 billion, a P/E ratio of 83.37 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. On average, equities research analysts predict that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ENPH. Morgan Stanley lowered their price objective on shares of Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Oppenheimer boosted their price objective on shares of Enphase Energy from $101.00 to $103.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Canaccord Genuity Group raised shares of Enphase Energy from a “hold” rating to a “buy” rating and boosted their price objective for the company from $76.00 to $82.00 in a research report on Wednesday, February 5th. The Goldman Sachs Group decreased their target price on shares of Enphase Energy from $121.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Finally, Redburn Atlantic started coverage on shares of Enphase Energy in a research report on Monday, March 3rd. They issued a “neutral” rating for the company. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $90.42.

Insider Buying and Selling

In other news, CFO Mandy Yang sold 1,319 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the completion of the sale, the chief financial officer now directly owns 78,524 shares of the company’s stock, valued at $4,972,139.68. This trade represents a 1.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of the sale, the director now directly owns 1,881,760 shares of the company’s stock, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

Enphase Energy Company 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.