Swiss National Bank Sells 21,300 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Swiss National Bank reduced its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 5.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 382,500 shares of the semiconductor company’s stock after selling 21,300 shares during the quarter. Swiss National Bank’s holdings in Enphase Energy were worth $26,270,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Enphase Energy by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock valued at $99,496,000 after buying an additional 16,234 shares during the period. Erste Asset Management GmbH bought a new stake in Enphase Energy during the third quarter worth $37,475,000. Swedbank AB lifted its stake in Enphase Energy by 0.3% during the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after purchasing an additional 11,890 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its stake in Enphase Energy by 72.7% during the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 19,000 shares of the semiconductor company’s stock worth $1,305,000 after purchasing an additional 8,000 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in Enphase Energy by 131.6% during the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock worth $155,360,000 after purchasing an additional 1,258,778 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors.

Insider Transactions at Enphase Energy

In related news, CFO Mandy Yang sold 1,319 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the transaction, the chief financial officer now owns 78,524 shares of the company’s stock, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were 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 directly owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. The trade was a 5.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

ENPH has been the subject of several recent analyst reports. Truist Financial restated a “hold” rating and set a $65.00 target price (down from $100.00) on shares of Enphase Energy in a research note on Thursday, January 16th. Citigroup upped their target price on Enphase Energy from $71.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Piper Sandler cut their target price on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Oppenheimer upped their target price on Enphase Energy from $101.00 to $103.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company dropped their price target on Enphase Energy from $83.00 to $77.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $90.42.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $63.80 on Tuesday. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. The business has a 50-day moving average price of $63.25 and a two-hundred day moving average price of $78.62. Enphase Energy, Inc. has a 1-year low of $51.63 and a 1-year high of $141.63. The company has a market cap of $8.45 billion, a P/E ratio of 86.22 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. As a group, analysts anticipate that Enphase Energy, Inc. will post 2.08 EPS for the current 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.