Mirova US LLC Decreases Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Mirova US LLC reduced its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 573,770 shares of the semiconductor company’s stock after selling 3,765 shares during the period. Enphase Energy makes up 1.1% of Mirova US LLC’s holdings, making the stock its 24th biggest position. Mirova US LLC owned 0.42% of Enphase Energy worth $75,818,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Enphase Energy by 0.4% during the first quarter. Vanguard Group Inc. now owns 13,980,361 shares of the semiconductor company’s stock valued at $2,820,957,000 after acquiring an additional 60,024 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Enphase Energy by 387,343.1% during the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after acquiring an additional 4,078,723 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Enphase Energy by 1.8% during the first quarter. Geode Capital Management LLC now owns 2,897,279 shares of the semiconductor company’s stock valued at $607,929,000 after acquiring an additional 51,092 shares during the last quarter. Northern Trust Corp increased its position in shares of Enphase Energy by 7.1% during the third quarter. Northern Trust Corp now owns 1,360,627 shares of the semiconductor company’s stock valued at $163,479,000 after acquiring an additional 90,438 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Enphase Energy during the fourth quarter valued at about $325,230,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Stock Performance

Shares of Enphase Energy stock traded up $1.71 during trading on Wednesday, reaching $112.18. The company’s stock had a trading volume of 1,094,360 shares, compared to its average volume of 4,048,918. The company has a 50-day moving average price of $120.44 and a two-hundred day moving average price of $112.19. The firm has a market cap of $15.26 billion, a PE ratio of 36.10, a P/E/G ratio of 3.12 and a beta of 1.47. Enphase Energy, Inc. has a fifty-two week low of $73.49 and a fifty-two week high of $231.42. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. On average, analysts forecast that Enphase Energy, Inc. will post 2.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ENPH shares. Royal Bank of Canada started coverage on shares of Enphase Energy in a research note on Wednesday, February 14th. They issued an “outperform” rating and a $140.00 price objective for the company. Roth Mkm lowered their price objective on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, February 1st. Wells Fargo & Company raised shares of Enphase Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $98.00 to $141.00 in a research note on Monday, January 8th. StockNews.com lowered shares of Enphase Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Finally, Canaccord Genuity Group started coverage on shares of Enphase Energy in a research note on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price objective for the company. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $151.03.

Insider Activity

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

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.