Enphase Energy, Inc. (NASDAQ:ENPH) Stock Position Lowered by Sandy Spring Bank

Sandy Spring Bank lessened its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 55.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,120 shares of the semiconductor company’s stock after selling 1,400 shares during the period. Sandy Spring Bank’s holdings in Enphase Energy were worth $77,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Avior Wealth Management LLC raised its stake in shares of Enphase Energy by 6,975.0% in the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after buying an additional 279 shares in the last quarter. Stone House Investment Management LLC acquired a new position in shares of Enphase Energy in the 3rd quarter worth $34,000. Quarry LP acquired a new position in shares of Enphase Energy in the 3rd quarter worth $37,000. Venturi Wealth Management LLC grew its holdings in shares of Enphase Energy by 318.1% in the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 509 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Enphase Energy in the 3rd quarter worth $55,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $61.54 on Friday. Enphase Energy, Inc. has a fifty-two week low of $51.63 and a fifty-two week high of $141.63. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The stock has a market capitalization of $8.15 billion, a P/E ratio of 83.16 and a beta of 2.12. The business has a 50-day moving average of $62.60 and a two-hundred day moving average of $77.56.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. On average, equities research analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ENPH. The Goldman Sachs Group decreased their target price on Enphase Energy from $121.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Truist Financial restated a “hold” rating and issued a $65.00 target price (down from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. Susquehanna decreased their target price on Enphase Energy from $79.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. JPMorgan Chase & Co. lowered their price target on Enphase Energy from $112.00 to $91.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, Wells Fargo & Company lowered their price target on Enphase Energy from $83.00 to $77.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and a consensus target price of $90.42.

Insider Buying and Selling

In related news, Director Thurman J. Rodgers sold 100,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the transaction, the director now owns 1,881,760 shares of the company’s stock, valued at approximately $115,276,617.60. The trade was a 5.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the transaction, the chief financial officer now directly owns 78,524 shares of the company’s stock, 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 owned by insiders.

Enphase Energy 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.