Axxcess Wealth Management LLC Buys New Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Axxcess Wealth Management LLC bought a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPHGet Rating) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 2,262 shares of the semiconductor company’s stock, valued at approximately $442,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Franklin Resources Inc. raised its holdings in shares of Enphase Energy by 2,675.2% during the second quarter. Franklin Resources Inc. now owns 214,412 shares of the semiconductor company’s stock valued at $41,862,000 after acquiring an additional 206,686 shares in the last quarter. Bridgecreek Investment Management LLC grew its stake in Enphase Energy by 72.5% in the second quarter. Bridgecreek Investment Management LLC now owns 1,725 shares of the semiconductor company’s stock worth $337,000 after purchasing an additional 725 shares during the period. Rhumbline Advisers grew its stake in Enphase Energy by 8.0% in the second quarter. Rhumbline Advisers now owns 234,441 shares of the semiconductor company’s stock worth $45,772,000 after purchasing an additional 17,368 shares during the period. O Shaughnessy Asset Management LLC grew its stake in Enphase Energy by 44.4% in the second quarter. O Shaughnessy Asset Management LLC now owns 2,938 shares of the semiconductor company’s stock worth $574,000 after purchasing an additional 904 shares during the period. Finally, McGowan Group Asset Management Inc. grew its stake in Enphase Energy by 47.0% in the second quarter. McGowan Group Asset Management Inc. now owns 5,195 shares of the semiconductor company’s stock worth $1,014,000 after purchasing an additional 1,661 shares during the period. Institutional investors own 71.22% of the company’s stock.

Enphase Energy Stock Down 1.5 %

ENPH stock opened at $315.78 on Thursday. Enphase Energy, Inc. has a fifty-two week low of $113.40 and a fifty-two week high of $324.84. The business’s 50-day moving average is $283.23 and its two-hundred day moving average is $247.54. The company has a debt-to-equity ratio of 1.96, a quick ratio of 3.34 and a current ratio of 3.60. The company has a market cap of $42.92 billion, a price-to-earnings ratio of 151.82, a P/E/G ratio of 2.20 and a beta of 1.43.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Joseph Ian Malchow sold 12,500 shares of the stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $310.00, for a total value of $3,875,000.00. Following the transaction, the director now owns 55,090 shares of the company’s stock, valued at $17,077,900. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Joseph Ian Malchow sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $310.00, for a total value of $3,875,000.00. Following the transaction, the director now owns 55,090 shares of the company’s stock, valued at $17,077,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David A. Ranhoff sold 7,500 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $303.43, for a total value of $2,275,725.00. Following the completion of the transaction, the executive vice president now directly owns 85,402 shares in the company, valued at approximately $25,913,528.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 186,372 shares of company stock valued at $56,077,771. 4.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ENPH shares. Barclays upped their price target on Enphase Energy from $292.00 to $311.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 26th. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Enphase Energy in a research note on Sunday, July 31st. StockNews.com began coverage on Enphase Energy in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. The Goldman Sachs Group increased their target price on Enphase Energy from $328.00 to $362.00 and gave the stock a “buy” rating in a research note on Wednesday, October 26th. Finally, Needham & Company LLC increased their target price on Enphase Energy from $275.00 to $335.00 and gave the stock a “buy” rating in a research note on Wednesday, October 26th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.82.

About Enphase Energy

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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 services.

See Also

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Institutional Ownership by Quarter for Enphase Energy (NASDAQ:ENPH)

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