Bank Pictet & Cie Europe AG Lowers Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Bank Pictet & Cie Europe AG cut its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 6.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,406 shares of the semiconductor company’s stock after selling 1,873 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Enphase Energy were worth $2,633,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Enphase Energy by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock valued at $2,066,846,000 after acquiring an additional 192,854 shares in the last quarter. Swedbank AB purchased a new position in Enphase Energy in the 1st quarter worth $424,130,000. Northern Trust Corp raised its stake in Enphase Energy by 0.3% in the 4th quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock worth $180,314,000 after acquiring an additional 3,940 shares during the last quarter. Norges Bank purchased a new position in shares of Enphase Energy during the 4th quarter valued at about $149,425,000. Finally, Nordea Investment Management AB raised its stake in shares of Enphase Energy by 11.1% during the 1st quarter. Nordea Investment Management AB now owns 907,722 shares of the semiconductor company’s stock valued at $108,927,000 after buying an additional 90,558 shares during the last quarter. 72.12% of the stock is owned by institutional investors.

Insider Buying and Selling at Enphase Energy

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

Enphase Energy Stock Performance

NASDAQ ENPH traded up $7.51 during trading hours on Friday, hitting $123.00. 2,729,010 shares of the stock were exchanged, compared to its average volume of 3,996,939. Enphase Energy, Inc. has a 12-month low of $73.49 and a 12-month high of $141.63. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The company has a market cap of $16.74 billion, a price-to-earnings ratio of 64.06, a price-to-earnings-growth ratio of 5.59 and a beta of 1.71. The stock has a 50-day moving average of $109.59 and a 200 day moving average of $116.01.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $309.73 million. During the same period last year, the business posted $1.16 earnings per share. The company’s quarterly revenue was down 57.3% on a year-over-year basis. As a group, equities research analysts forecast that Enphase Energy, Inc. will post 1.24 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Susquehanna lifted their price target on Enphase Energy from $140.00 to $147.00 and gave the company a “positive” rating in a research note on Monday, July 15th. Roth Mkm restated a “buy” rating and set a $140.00 target price on shares of Enphase Energy in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Glj Research assumed coverage on Enphase Energy in a report on Tuesday, June 25th. They issued a “sell” rating and a $45.82 price objective on the stock. Finally, Craig Hallum upped their price objective on Enphase Energy from $147.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $128.76.

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.