DekaBank Deutsche Girozentrale Buys 29,013 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

DekaBank Deutsche Girozentrale increased its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 48.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 88,696 shares of the semiconductor company’s stock after acquiring an additional 29,013 shares during the period. DekaBank Deutsche Girozentrale owned about 0.07% of Enphase Energy worth $10,658,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. GAMMA Investing LLC bought a new stake in shares of Enphase Energy in the fourth quarter worth $206,000. Westfield Capital Management Co. LP acquired a new stake in shares of Enphase Energy during the fourth quarter worth $41,068,000. Northern Trust Corp raised its stake in Enphase Energy by 0.3% during the fourth quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock worth $180,314,000 after buying an additional 3,940 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Enphase Energy by 364.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock worth $13,147,000 after acquiring an additional 85,284 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC bought a new stake in shares of Enphase Energy during the 1st quarter valued at about $470,000. Institutional investors own 72.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays cut their price target on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. B. Riley upped their price target on Enphase Energy from $121.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Bank of America reduced their price objective on Enphase Energy from $71.00 to $70.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Canaccord Genuity Group lowered their target price on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Craig Hallum lifted their price target on shares of Enphase Energy from $147.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $128.53.

Enphase Energy Price Performance

Shares of Enphase Energy stock traded down $4.49 during trading on Friday, hitting $105.19. 2,869,094 shares of the stock traded hands, compared to its average volume of 4,649,031. The stock has a market cap of $14.24 billion, a price-to-earnings ratio of 54.79, a PEG ratio of 5.59 and a beta of 1.71. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. Enphase Energy, Inc. has a 52 week low of $73.49 and a 52 week high of $144.40. The firm’s fifty day moving average is $114.60 and its 200-day moving average is $115.27.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The company had revenue of $303.80 million for the quarter, compared to analysts’ expectations of $309.73 million. During the same quarter in the prior year, the company earned $1.16 earnings per share. The company’s revenue was down 57.3% compared to the same quarter last year. Research analysts expect that Enphase Energy, Inc. will post 1.24 EPS for the current fiscal year.

Insider Activity at Enphase Energy

In other news, Director Thurman J. Rodgers sold 319,526 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $126.53, for a total value of $40,429,624.78. Following the completion of the sale, the director now directly owns 1,984,562 shares of the company’s stock, valued at approximately $251,106,629.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the completion of the transaction, the executive vice president now owns 107,943 shares in the company, valued at approximately $13,306,133.61. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thurman J. Rodgers sold 319,526 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total value of $40,429,624.78. Following the completion of the sale, the director now directly owns 1,984,562 shares in the company, valued at $251,106,629.86. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

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.