Axxcess Wealth Management LLC Invests $442,000 in Enphase Energy, Inc. (NASDAQ:ENPH)

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Franklin Resources Inc. lifted 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 purchasing an additional 206,686 shares in the last quarter. Bridgecreek Investment Management LLC lifted its holdings in shares of Enphase Energy by 72.5% during the second quarter. Bridgecreek Investment Management LLC now owns 1,725 shares of the semiconductor company’s stock valued at $337,000 after purchasing an additional 725 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Enphase Energy by 8.0% during the second quarter. Rhumbline Advisers now owns 234,441 shares of the semiconductor company’s stock valued at $45,772,000 after purchasing an additional 17,368 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Enphase Energy by 44.4% during the second quarter. O Shaughnessy Asset Management LLC now owns 2,938 shares of the semiconductor company’s stock valued at $574,000 after purchasing an additional 904 shares in the last quarter. Finally, McGowan Group Asset Management Inc. lifted its holdings in shares of Enphase Energy by 47.0% during the second quarter. McGowan Group Asset Management Inc. now owns 5,195 shares of the semiconductor company’s stock valued at $1,014,000 after purchasing an additional 1,661 shares in the last quarter. 71.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ENPH shares. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Enphase Energy in a report on Sunday, July 31st. JPMorgan Chase & Co. lowered their price target on Enphase Energy from $321.00 to $289.00 and set an “overweight” rating on the stock in a report on Thursday, October 20th. The Goldman Sachs Group increased their target price on Enphase Energy from $328.00 to $362.00 and gave the company a “buy” rating in a report on Wednesday, October 26th. Barclays increased their target price on Enphase Energy from $292.00 to $311.00 and gave the company an “equal weight” rating in a report on Wednesday, October 26th. Finally, Guggenheim downgraded Enphase Energy from a “buy” rating to a “neutral” rating in a report on Friday, September 9th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $295.82.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $315.78 on Thursday. The company has a current ratio of 3.60, a quick ratio of 3.34 and a debt-to-equity ratio of 1.96. Enphase Energy, Inc. has a 12-month low of $113.40 and a 12-month high of $324.84. The stock has a 50-day moving average price of $283.23 and a 200 day moving average price of $247.54. The stock has a market capitalization of $42.92 billion, a P/E ratio of 151.82, a P/E/G ratio of 2.20 and a beta of 1.43.

Insider Buying and Selling

In related news, EVP David A. Ranhoff sold 7,500 shares of the stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $303.43, for a total transaction of $2,275,725.00. Following the completion of the sale, the executive vice president now owns 85,402 shares in the company, valued at $25,913,528.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP David A. Ranhoff sold 7,500 shares of the stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $303.43, for a total transaction of $2,275,725.00. Following the completion of the sale, the executive vice president now owns 85,402 shares in the company, valued at $25,913,528.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Badrinarayanan Kothandaraman sold 36,083 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $296.52, for a total value of $10,699,331.16. Following the transaction, the chief executive officer now owns 1,095,133 shares of the company’s stock, valued at approximately $324,728,837.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 186,372 shares of company stock worth $56,077,771. 4.80% of the stock is owned by corporate insiders.

Enphase Energy Profile

(Get Rating)

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

Want to see what other hedge funds are holding ENPH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enphase Energy, Inc. (NASDAQ:ENPHGet Rating).

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

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