KLP Kapitalforvaltning AS Purchases Shares of 89,200 Enphase Energy, Inc. (NASDAQ:ENPH)

KLP Kapitalforvaltning AS acquired a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 89,200 shares of the semiconductor company’s stock, valued at approximately $6,126,000.

A number of other large investors have also recently made changes to their positions in ENPH. Baillie Gifford & Co. increased its position in shares of Enphase Energy by 32.0% in the 4th quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock valued at $574,975,000 after purchasing an additional 2,028,691 shares during the last quarter. Nordea Investment Management AB increased its holdings in Enphase Energy by 131.6% in the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after buying an additional 1,258,778 shares during the last quarter. Aspex Management HK Ltd acquired a new stake in Enphase Energy in the third quarter valued at $48,442,000. Assenagon Asset Management S.A. lifted its holdings in Enphase Energy by 372.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 463,452 shares of the semiconductor company’s stock worth $31,830,000 after buying an additional 365,356 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new position in shares of Enphase Energy during the 3rd quarter worth about $37,475,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. TD Cowen cut their target price on Enphase Energy from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Glj Research restated a “sell” rating and set a $50.69 price objective on shares of Enphase Energy in a research report on Tuesday, February 4th. Oppenheimer upped their target price on shares of Enphase Energy from $101.00 to $103.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Wells Fargo & Company cut their price target on shares of Enphase Energy from $83.00 to $77.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Piper Sandler decreased their price objective on shares of Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $90.42.

Insider Activity

In other news, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the sale, the director now directly owns 1,881,760 shares in the company, valued at $115,276,617.60. This represents a 5.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction that occurred on Monday, March 10th. The stock was 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 $4,972,139.68. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Enphase Energy Trading Up 1.0 %

Shares of Enphase Energy stock opened at $62.77 on Wednesday. The company has a 50-day moving average of $62.45 and a two-hundred day moving average of $76.39. Enphase Energy, Inc. has a 12-month low of $51.63 and a 12-month high of $141.63. 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 stock has a market cap of $8.32 billion, a PE ratio of 84.83 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. On average, research analysts anticipate that Enphase Energy, Inc. will post 2.08 EPS 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.