Rockefeller Capital Management L.P. Sells 30,767 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Rockefeller Capital Management L.P. lessened its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 26.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,845 shares of the semiconductor company’s stock after selling 30,767 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Enphase Energy were worth $9,815,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Avior Wealth Management LLC increased its holdings in shares of Enphase Energy by 6,975.0% during the third 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. UMB Bank n.a. grew its position in Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 259 shares during the last quarter. nVerses Capital LLC acquired a new stake in Enphase Energy during the 3rd quarter valued at $34,000. Stone House Investment Management LLC bought a new position in Enphase Energy in the 3rd quarter valued at $34,000. Finally, Quest Partners LLC boosted its stake in Enphase Energy by 11,525.0% in the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 461 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ENPH. Barclays cut their price target on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Morgan Stanley decreased their price target on shares of Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. William Blair began coverage on shares of Enphase Energy in a research report on Thursday, August 29th. They issued a “market perform” rating for the company. Truist Financial decreased their price objective on Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, Northland Securities dropped their target price 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. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $101.13.

Enphase Energy Stock Down 2.5 %

Shares of ENPH stock opened at $73.26 on Wednesday. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 166.50, a P/E/G ratio of 22.30 and a beta of 1.69. Enphase Energy, Inc. has a 12-month low of $58.33 and a 12-month high of $141.63. The firm has a fifty day moving average of $85.62 and a 200-day moving average of $104.31. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The firm had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. During the same period in the prior year, the company earned $0.84 earnings per share. The firm’s quarterly revenue was down 30.9% on a year-over-year basis. As a group, equities research analysts predict that Enphase Energy, Inc. will post 0.94 earnings per share for the current fiscal year.

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.