Enphase Energy (NASDAQ:ENPH) Director Thurman Rodgers Sells 150,000 Shares

Enphase Energy, Inc. (NASDAQ:ENPH) Director Thurman Rodgers sold 150,000 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $29.13, for a total transaction of $4,369,500.00. Following the completion of the transaction, the director directly owned 1,733,596 shares of the company’s stock, valued at approximately $50,499,651.48. The trade was a 7.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Enphase Energy Stock Performance

Enphase Energy stock opened at $30.76 on Friday. The stock’s 50 day simple moving average is $32.54 and its two-hundred day simple moving average is $36.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.88 and a current ratio of 2.04. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 21.21 and a beta of 1.43. Enphase Energy, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $78.26.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.30. Enphase Energy had a return on equity of 25.67% and a net margin of 12.93%.The firm had revenue of $410.43 million during the quarter, compared to analyst estimates of $364.64 million. During the same quarter in the prior year, the company earned $0.65 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. As a group, analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wall Street Zen cut shares of Enphase Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Susquehanna set a $33.00 price objective on shares of Enphase Energy in a report on Thursday, October 30th. TD Cowen dropped their price target on Enphase Energy from $40.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, October 29th. Loop Capital set a $31.00 price objective on Enphase Energy in a research note on Thursday, October 30th. Finally, Citigroup cut their target price on Enphase Energy from $32.00 to $31.00 and set a “sell” rating on the stock in a research note on Wednesday, October 29th. Five research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and thirteen have assigned a Sell rating to the company. According to data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Reduce” and a consensus price target of $39.90.

Institutional Trading of Enphase Energy

A number of large investors have recently made changes to their positions in the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Enphase Energy by 431.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 514 shares during the period. Salomon & Ludwin LLC boosted its stake in shares of Enphase Energy by 761.0% during the 3rd quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 761 shares during the last quarter. Stance Capital LLC bought a new stake in shares of Enphase Energy during the 3rd quarter valued at $32,000. Geneos Wealth Management Inc. raised its holdings in Enphase Energy by 199.7% in the 3rd quarter. Geneos Wealth Management Inc. now owns 920 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 613 shares during the period. Finally, SVB Wealth LLC purchased a new position in Enphase Energy during the first quarter valued at $38,000. 72.12% of the stock is currently owned by institutional investors.

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.