abrdn plc Grows Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

abrdn plc grew its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 178.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 268,812 shares of the semiconductor company’s stock after buying an additional 172,359 shares during the period. abrdn plc owned approximately 0.20% of Enphase Energy worth $35,521,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geneos Wealth Management Inc. grew its stake in Enphase Energy by 68.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 252 shares of the semiconductor company’s stock worth $30,000 after buying an additional 102 shares in the last quarter. CVA Family Office LLC bought a new stake in shares of Enphase Energy in the 4th quarter worth approximately $31,000. Parkside Financial Bank & Trust lifted its holdings in shares of Enphase Energy by 131.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 176 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Enphase Energy by 61.6% in the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 133 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Enphase Energy by 194.6% in the 4th quarter. Blue Trust Inc. now owns 330 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 218 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Analyst Ratings Changes

ENPH has been the subject of a number of recent research reports. Truist Financial upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $145.00 in a report on Tuesday, January 23rd. Morgan Stanley boosted their price objective on shares of Enphase Energy from $97.00 to $106.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. DZ Bank initiated coverage on shares of Enphase Energy in a report on Wednesday, April 17th. They issued a “hold” rating and a $116.00 price objective for the company. Canaccord Genuity Group initiated coverage on shares of Enphase Energy in a report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price objective for the company. Finally, B. Riley boosted their price objective on shares of Enphase Energy from $121.00 to $149.00 and gave the stock a “buy” rating in a report on Monday. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $147.84.

Enphase Energy Stock Up 3.8 %

NASDAQ:ENPH opened at $110.51 on Tuesday. The firm’s 50-day moving average price is $119.48 and its 200-day moving average price is $112.01. The company has a market capitalization of $15.03 billion, a PE ratio of 36.11, a P/E/G ratio of 3.07 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19. Enphase Energy, Inc. has a 1-year low of $73.49 and a 1-year high of $228.36.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The firm had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. On average, equities analysts predict that Enphase Energy, Inc. will post 2.01 EPS for the current fiscal year.

Insider Transactions at Enphase Energy

In related news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction of $544,450.00. Following the completion of the sale, the executive vice president now owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the transaction, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction of $544,450.00. Following the sale, the executive vice president now directly owns 124,948 shares of the company’s stock, valued at approximately $13,605,587.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,285 shares of company stock worth $4,054,428. Corporate insiders own 3.40% of the company’s stock.

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.