Rakuten Securities Inc. Grows Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Rakuten Securities Inc. boosted its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 116.4% during the 4th quarter, HoldingsChannel reports. The firm owned 1,435 shares of the semiconductor company’s stock after buying an additional 772 shares during the period. Rakuten Securities Inc.’s holdings in Enphase Energy were worth $99,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ENPH. Baillie Gifford & Co. increased its holdings in shares of Enphase Energy by 32.0% in the 4th quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock valued at $574,975,000 after acquiring an additional 2,028,691 shares during the period. Nordea Investment Management AB increased its holdings in shares of Enphase Energy by 131.6% in the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after acquiring an additional 1,258,778 shares during the period. Mizuho Securities USA LLC increased its holdings in shares of Enphase Energy by 4,177.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after acquiring an additional 438,424 shares during the period. Aspex Management HK Ltd purchased a new position in shares of Enphase Energy in the 3rd quarter valued at $48,442,000. Finally, Montrusco Bolton Investments Inc. increased its holdings in shares of Enphase Energy by 93.4% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 878,558 shares of the semiconductor company’s stock valued at $99,295,000 after acquiring an additional 424,327 shares during the period. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the sale, the director now owns 1,881,760 shares in the company, valued at $115,276,617.60. The trade was a 5.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the sale, the chief financial officer now owns 78,524 shares in the company, valued at $4,972,139.68. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $58.48 on Thursday. Enphase Energy, Inc. has a one year low of $51.63 and a one year high of $141.63. The company has a market cap of $7.75 billion, a price-to-earnings ratio of 79.03 and a beta of 2.12. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The business’s 50 day moving average price is $64.15 and its 200 day moving average price is $80.39.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. On average, research analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ENPH shares. Barclays cut their price target on Enphase Energy from $91.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Oppenheimer lifted their price target on Enphase Energy from $101.00 to $103.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Northland Securities lowered their price objective on Enphase Energy from $110.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Piper Sandler lowered their price objective on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Finally, Glj Research reissued a “sell” rating and issued a $50.69 price objective on shares of Enphase Energy in a research report on Tuesday, February 4th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy presently has an average rating of “Hold” and an average target price of $90.42.

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.