Enphase Energy, Inc. (NASDAQ:ENPH) Shares Purchased by Rafferty Asset Management LLC

Rafferty Asset Management LLC grew its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,939 shares of the semiconductor company’s stock after purchasing an additional 332 shares during the quarter. Rafferty Asset Management LLC’s holdings in Enphase Energy were worth $3,430,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Raiffeisen Bank International AG acquired a new position in Enphase Energy during the 4th quarter worth approximately $17,609,000. ProShare Advisors LLC lifted its position in shares of Enphase Energy by 7.3% during the fourth quarter. ProShare Advisors LLC now owns 46,356 shares of the semiconductor company’s stock worth $3,184,000 after purchasing an additional 3,134 shares in the last quarter. Quantinno Capital Management LP boosted its stake in shares of Enphase Energy by 512.9% in the fourth quarter. Quantinno Capital Management LP now owns 58,246 shares of the semiconductor company’s stock valued at $4,000,000 after purchasing an additional 48,743 shares during the period. Mufg Securities Americas Inc. purchased a new position in shares of Enphase Energy in the fourth quarter valued at $137,000. Finally, Man Group plc grew its holdings in Enphase Energy by 97.2% during the 4th quarter. Man Group plc now owns 13,692 shares of the semiconductor company’s stock valued at $940,000 after purchasing an additional 6,749 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Transactions at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average price of $46.35 per share, with a total value of $185,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,598,696 shares of the company’s stock, valued at $74,099,559.60. This trade represents a 0.25% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $83,519.08. Following the transaction, the chief financial officer now directly owns 78,524 shares in the company, valued at approximately $4,972,139.68. The trade was a 1.65% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ENPH shares. Susquehanna decreased their price objective on shares of Enphase Energy from $59.00 to $51.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. Glj Research reduced their price target on Enphase Energy from $50.69 to $31.11 and set a “sell” rating for the company in a report on Friday, April 25th. DZ Bank downgraded Enphase Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 23rd. Piper Sandler cut their target price on Enphase Energy from $47.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Finally, Citigroup reissued a “sell” rating and set a $47.00 price target on shares of Enphase Energy in a research report on Thursday, April 17th. Eleven research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and an average price target of $68.87.

Enphase Energy Price Performance

NASDAQ ENPH opened at $50.40 on Monday. The company has a 50-day moving average price of $53.41 and a two-hundred day moving average price of $62.41. Enphase Energy, Inc. has a 52 week low of $43.09 and a 52 week high of $141.63. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 68.11 and a beta of 1.80. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44.

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.