Woodline Partners LP Takes Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Woodline Partners LP purchased a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 8,114 shares of the semiconductor company’s stock, valued at approximately $557,000.

Several other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its stake in Enphase Energy by 93.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,881 shares of the semiconductor company’s stock valued at $473,000 after purchasing an additional 3,327 shares during the last quarter. Avior Wealth Management LLC grew its stake in Enphase Energy by 269.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,045 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 762 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in Enphase Energy by 50.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,150 shares of the semiconductor company’s stock valued at $285,000 after purchasing an additional 1,394 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in Enphase Energy in the fourth quarter valued at about $824,000. Finally, Pacer Advisors Inc. grew its stake in Enphase Energy by 238.9% in the fourth quarter. Pacer Advisors Inc. now owns 34,514 shares of the semiconductor company’s stock valued at $2,370,000 after purchasing an additional 24,331 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Buying and Selling at Enphase Energy

In other news, Director Thurman J. Rodgers sold 100,000 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the transaction, the director now owns 1,881,760 shares of the company’s stock, valued at $115,276,617.60. This represents a 5.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the transaction, the chief financial officer now directly owns 78,524 shares in the company, valued at approximately $4,972,139.68. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ENPH. BMO Capital Markets reissued an “underperform” rating and issued a $39.00 price target (down previously from $46.00) on shares of Enphase Energy in a report on Tuesday, May 13th. Morgan Stanley downgraded Enphase Energy from an “equal weight” rating to an “underweight” rating and set a $36.00 price target for the company. in a report on Wednesday, April 23rd. Susquehanna lowered their price target on Enphase Energy from $59.00 to $51.00 and set a “neutral” rating for the company in a report on Wednesday, April 23rd. Mizuho lowered their price target on Enphase Energy from $81.00 to $65.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Finally, Redburn Atlantic began coverage on Enphase Energy in a report on Monday, March 3rd. They issued a “neutral” rating for the company. Eleven analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $68.87.

Enphase Energy Stock Up 4.3%

Shares of NASDAQ:ENPH opened at $39.64 on Tuesday. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. The business has a fifty day moving average of $51.41 and a two-hundred day moving average of $60.93. The stock has a market cap of $5.20 billion, a P/E ratio of 53.57 and a beta of 1.80. Enphase Energy, Inc. has a 52-week low of $37.59 and a 52-week high of $141.63.

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.