Hartline Investment Corp Trims Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Hartline Investment Corp reduced its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 34.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,710 shares of the semiconductor company’s stock after selling 28,260 shares during the quarter. Enphase Energy makes up about 1.1% of Hartline Investment Corp’s holdings, making the stock its 19th biggest holding. Hartline Investment Corp’s holdings in Enphase Energy were worth $7,097,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new stake in Enphase Energy during the 4th quarter valued at about $206,000. Linden Thomas Advisory Services LLC grew its position in Enphase Energy by 10.3% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 7,268 shares of the semiconductor company’s stock valued at $960,000 after purchasing an additional 678 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in Enphase Energy by 53.5% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 9,245 shares of the semiconductor company’s stock valued at $1,222,000 after purchasing an additional 3,223 shares during the last quarter. Illinois Municipal Retirement Fund grew its position in Enphase Energy by 129.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 7,709 shares of the semiconductor company’s stock valued at $1,019,000 after purchasing an additional 4,349 shares during the last quarter. Finally, Telemus Capital LLC purchased a new stake in Enphase Energy during the 4th quarter valued at about $262,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Canaccord Genuity Group began coverage on shares of Enphase Energy in a research note on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price objective on the stock. Canaccord Genuity Group cut their price objective on shares of Enphase Energy from $132.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday. TD Cowen increased their price objective on shares of Enphase Energy from $140.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday. Craig Hallum cut their price objective on shares of Enphase Energy from $159.00 to $147.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Roth Mkm reaffirmed a “buy” rating and set a $140.00 price objective on shares of Enphase Energy in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $141.00.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, the director now owns 3,126 shares in the company, valued at $376,964.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the purchase, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the sale, the director now owns 3,126 shares in the company, valued at approximately $376,964.34. The disclosure for this sale can be found here. Insiders have sold 34,285 shares of company stock worth $4,054,428 over the last quarter. Insiders own 3.40% of the company’s stock.

Enphase Energy Stock Down 5.6 %

Shares of ENPH stock traded down $6.31 on Wednesday, hitting $107.17. The stock had a trading volume of 10,882,666 shares, compared to its average volume of 4,175,205. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32. The business has a 50 day moving average price of $119.28 and a 200 day moving average price of $111.97. The company has a market cap of $14.57 billion, a PE ratio of 35.02, a P/E/G ratio of 3.16 and a beta of 1.47. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $228.36.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.05. The firm had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. Research analysts anticipate that Enphase Energy, Inc. will post 2.01 earnings per share for the current fiscal 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.