Ensign Peak Advisors Inc Grows Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Ensign Peak Advisors Inc boosted its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 345.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 230,589 shares of the semiconductor company’s stock after purchasing an additional 178,831 shares during the period. Ensign Peak Advisors Inc’s holdings in Enphase Energy were worth $15,837,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Inspire Investing LLC lifted its stake in Enphase Energy by 2.0% during the 4th quarter. Inspire Investing LLC now owns 15,988 shares of the semiconductor company’s stock valued at $1,098,000 after acquiring an additional 318 shares during the period. GeoWealth Management LLC lifted its stake in Enphase Energy by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 321 shares during the period. Norinchukin Bank The lifted its stake in Enphase Energy by 6.0% during the 4th quarter. Norinchukin Bank The now owns 5,754 shares of the semiconductor company’s stock valued at $395,000 after acquiring an additional 328 shares during the period. Arizona State Retirement System lifted its stake in Enphase Energy by 0.9% during the 4th quarter. Arizona State Retirement System now owns 39,318 shares of the semiconductor company’s stock valued at $2,700,000 after acquiring an additional 336 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in Enphase Energy by 0.9% during the 4th quarter. MetLife Investment Management LLC now owns 41,504 shares of the semiconductor company’s stock valued at $2,850,000 after acquiring an additional 361 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Price Performance

Enphase Energy stock opened at $50.80 on Monday. Enphase Energy, Inc. has a 52-week low of $43.09 and a 52-week high of $141.63. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 68.65 and a beta of 1.80. The company has a fifty day simple moving average of $54.63 and a 200-day simple moving average of $63.64. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44.

Insider Transactions at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the company’s stock in a transaction dated Friday, April 25th. The stock was acquired at an average price of $46.35 per share, with a total value of $185,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,598,696 shares of the company’s stock, valued at $74,099,559.60. This represents a 0.25% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thurman J. Rodgers sold 100,000 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the sale, the director now directly owns 1,881,760 shares of the company’s stock, valued at $115,276,617.60. The trade was a 5.05% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ENPH shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $54.00 target price (down from $59.00) on shares of Enphase Energy in a research note on Wednesday, April 23rd. Citigroup reiterated a “sell” rating and issued a $47.00 target price on shares of Enphase Energy in a research note on Thursday, April 17th. JPMorgan Chase & Co. decreased their target price on shares of Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. DZ Bank cut shares of Enphase Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 23rd. Finally, Mizuho decreased their target price on shares of Enphase Energy from $81.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $70.54.

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.