CENTRAL TRUST Co Lowers Position in Enphase Energy, Inc. (NASDAQ:ENPH)

CENTRAL TRUST Co reduced its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 30.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,602 shares of the semiconductor company’s stock after selling 690 shares during the period. CENTRAL TRUST Co’s holdings in Enphase Energy were worth $194,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Donoghue Forlines LLC raised its stake in shares of Enphase Energy by 4.8% in the 4th quarter. Donoghue Forlines LLC now owns 1,953 shares of the semiconductor company’s stock valued at $258,000 after acquiring an additional 90 shares during the period. Fermata Advisors LLC grew its stake in shares of Enphase Energy by 1.4% in the first quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock valued at $855,000 after buying an additional 100 shares in the last quarter. Fulton Breakefield Broenniman LLC grew its stake in shares of Enphase Energy by 0.9% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 11,386 shares of the semiconductor company’s stock valued at $1,505,000 after buying an additional 107 shares in the last quarter. VitalStone Financial LLC raised its holdings in shares of Enphase Energy by 14.3% in the 4th quarter. VitalStone Financial LLC now owns 888 shares of the semiconductor company’s stock valued at $117,000 after buying an additional 111 shares during the period. Finally, E Fund Management Co. Ltd. lifted its stake in Enphase Energy by 5.5% during the 3rd quarter. E Fund Management Co. Ltd. now owns 2,526 shares of the semiconductor company’s stock worth $303,000 after acquiring an additional 131 shares in the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Stock Performance

Shares of ENPH traded up $9.73 during midday trading on Wednesday, reaching $121.23. 8,361,838 shares of the stock were exchanged, compared to its average volume of 4,126,210. The company has a market capitalization of $16.49 billion, a price-to-earnings ratio of 63.14, a PEG ratio of 4.06 and a beta of 1.50. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 3.78. Enphase Energy, Inc. has a twelve month low of $73.49 and a twelve month high of $192.22. The business’s 50-day moving average price is $113.51 and its 200 day moving average price is $113.15.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.17). The business had revenue of $263.34 million for the quarter, compared to analyst estimates of $280.06 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. On average, sell-side analysts expect that Enphase Energy, Inc. will post 1.59 EPS for the current fiscal year.

Insider Transactions at Enphase Energy

In related news, Director Steven J. Gomo sold 20,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the completion of the transaction, the director now directly owns 118,360 shares of the company’s stock, valued at $12,391,108.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of Enphase Energy stock in a transaction on Tuesday, February 27th. The stock was bought at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the acquisition, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven J. Gomo sold 20,000 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the transaction, the director now directly owns 118,360 shares in the company, valued at $12,391,108.40. The disclosure for this sale can be found here. Insiders sold 30,000 shares of company stock worth $3,219,700 over the last 90 days. 3.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Canaccord Genuity Group cut their price target on shares of Enphase Energy from $132.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Morgan Stanley increased their target price on shares of Enphase Energy from $97.00 to $106.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. TD Cowen boosted their price target on shares of Enphase Energy from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. B. Riley upped their price objective on Enphase Energy from $121.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $111.00 target price (down from $113.00) on shares of Enphase Energy in a report on Wednesday, April 24th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $133.45.

Enphase Energy Company 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.