Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG reduced its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,323 shares of the semiconductor company’s stock after selling 696 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Enphase Energy were worth $1,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in ENPH. Asset Management One Co. Ltd. lifted its stake in shares of Enphase Energy by 18.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 65,310 shares of the semiconductor company’s stock valued at $4,711,000 after purchasing an additional 10,398 shares during the period. Vontobel Holding Ltd. lifted its stake in shares of Enphase Energy by 53.4% in the 4th quarter. Vontobel Holding Ltd. now owns 91,749 shares of the semiconductor company’s stock valued at $6,301,000 after purchasing an additional 31,954 shares during the period. V Square Quantitative Management LLC lifted its stake in shares of Enphase Energy by 40.2% in the 4th quarter. V Square Quantitative Management LLC now owns 5,263 shares of the semiconductor company’s stock valued at $361,000 after purchasing an additional 1,508 shares during the period. MN Wealth Advisors LLC lifted its stake in shares of Enphase Energy by 61.7% in the 4th quarter. MN Wealth Advisors LLC now owns 10,159 shares of the semiconductor company’s stock valued at $698,000 after purchasing an additional 3,878 shares during the period. Finally, DDD Partners LLC lifted its stake in shares of Enphase Energy by 29.5% in the 4th quarter. DDD Partners LLC now owns 2,924 shares of the semiconductor company’s stock valued at $201,000 after purchasing an additional 666 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the firm’s stock in a transaction on Friday, April 25th. The shares were bought at an average price of $46.35 per share, with a total value of $185,400.00. Following the completion of the transaction, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Enphase Energy Trading Up 2.0%

Shares of ENPH stock opened at $45.60 on Monday. The company’s 50-day moving average price is $46.51 and its 200-day moving average price is $58.71. 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 stock has a market cap of $5.98 billion, a price-to-earnings ratio of 61.62 and a beta of 1.69. Enphase Energy, Inc. has a twelve month low of $37.59 and a twelve month high of $130.08.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ENPH shares. The Goldman Sachs Group decreased their target price on shares of Enphase Energy from $90.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley lowered shares of Enphase Energy from an “equal weight” rating to an “underweight” rating and set a $36.00 price target for the company. in a report on Wednesday, April 23rd. Citigroup cut their price target on shares of Enphase Energy from $47.00 to $43.00 and set a “sell” rating for the company in a report on Thursday, June 5th. Mizuho set a $53.00 price target on shares of Enphase Energy and gave the stock an “outperform” rating in a report on Monday, June 2nd. Finally, Piper Sandler cut their price target on shares of Enphase Energy from $47.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $68.31.

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.