Commonwealth Equity Services LLC Lowers Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Commonwealth Equity Services LLC reduced its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 23.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,003 shares of the semiconductor company’s stock after selling 19,738 shares during the period. Commonwealth Equity Services LLC’s holdings in Enphase Energy were worth $4,533,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Avior Wealth Management LLC grew its position in Enphase Energy by 6,975.0% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after buying an additional 279 shares in the last quarter. Stone House Investment Management LLC purchased a new position in shares of Enphase Energy during the third quarter worth about $34,000. Quarry LP bought a new position in shares of Enphase Energy in the third quarter worth approximately $37,000. Venturi Wealth Management LLC raised its stake in Enphase Energy by 318.1% in the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 509 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in Enphase Energy during the third quarter valued at approximately $55,000. Institutional investors own 72.12% of the company’s stock.

Insiders Place Their Bets

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the transaction, the director now 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the transaction, the chief financial officer now owns 78,524 shares of the company’s stock, valued at $4,972,139.68. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ENPH has been the topic of a number of research analyst reports. Truist Financial reissued a “hold” rating and issued a $65.00 price target (down previously from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. Guggenheim raised Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 target price on the stock in a research note on Friday, January 31st. Piper Sandler dropped their price target on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. BMO Capital Markets reduced their price objective on Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. dropped their target price on Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $90.42.

Enphase Energy Trading Down 0.2 %

Shares of ENPH opened at $61.54 on Monday. Enphase Energy, Inc. has a 1-year low of $51.63 and a 1-year high of $141.63. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. The firm’s 50-day moving average price is $62.60 and its 200-day moving average price is $77.06. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 83.16 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. Sell-side analysts anticipate that Enphase Energy, Inc. will post 2.08 EPS for the current year.

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.