Plato Investment Management Ltd Boosts Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Plato Investment Management Ltd increased its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 155.8% in the first quarter, Holdings Channel reports. The institutional investor owned 862 shares of the semiconductor company’s stock after acquiring an additional 525 shares during the period. Plato Investment Management Ltd’s holdings in Enphase Energy were worth $104,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ENPH. Baillie Gifford & Co. increased its holdings in Enphase Energy by 387,343.1% in the 4th quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock worth $539,102,000 after buying an additional 4,078,723 shares during the period. Norges Bank purchased a new stake in Enphase Energy in the 4th quarter worth approximately $149,425,000. Canada Pension Plan Investment Board purchased a new position in shares of Enphase Energy during the 1st quarter valued at approximately $59,128,000. Westfield Capital Management Co. LP purchased a new position in shares of Enphase Energy during the 4th quarter valued at approximately $41,068,000. Finally, Panagora Asset Management Inc. lifted its position in shares of Enphase Energy by 3,396.9% during the 4th quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company’s stock valued at $34,711,000 after buying an additional 255,175 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ENPH has been the topic of a number of research reports. Truist Financial decreased their price objective on Enphase Energy from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Roth Mkm reiterated a “buy” rating and issued a $140.00 price objective on shares of Enphase Energy in a research note on Wednesday, July 24th. Guggenheim lifted their price objective on Enphase Energy from $92.00 to $93.00 and gave the company a “sell” rating in a research note on Wednesday, July 24th. BMO Capital Markets lifted their price objective on Enphase Energy from $110.00 to $115.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Finally, Susquehanna boosted their target price on Enphase Energy from $140.00 to $147.00 and gave the stock a “positive” rating in a research note on Monday, July 15th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $128.53.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH traded down $5.43 on Thursday, hitting $109.68. The company had a trading volume of 3,259,916 shares, compared to its average volume of 4,184,413. The company has a current ratio of 4.23, a quick ratio of 3.90 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 $145.50. The business has a 50 day moving average of $115.15 and a 200 day moving average of $115.30. The company has a market cap of $14.92 billion, a PE ratio of 58.22, a PEG ratio of 5.58 and a beta of 1.71.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) 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 during 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 firm’s revenue was down 57.3% compared to the same quarter last year. As a group, equities analysts anticipate that Enphase Energy, Inc. will post 1.24 earnings per share for the current fiscal year.

Insider Activity at Enphase Energy

In related news, 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 transaction, the director now directly owns 1,984,562 shares in the company, valued at $251,106,629.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $123.27, for a total transaction of $616,350.00. Following the completion of the sale, the executive vice president now directly owns 107,943 shares in the company, valued at $13,306,133.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thurman J. Rodgers sold 319,526 shares of the company’s stock in a transaction dated 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 sale, the director now owns 1,984,562 shares of the company’s stock, valued at $251,106,629.86. The disclosure for this sale can be found here. 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.