Commonwealth Equity Services LLC Cuts Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Commonwealth Equity Services LLC reduced its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 23.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 66,003 shares of the semiconductor company’s stock after selling 19,738 shares during the period. Commonwealth Equity Services LLC’s holdings in Enphase Energy were worth $4,533,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Avior Wealth Management LLC raised its stake in shares of Enphase Energy by 6,975.0% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 279 shares during the last quarter. Stone House Investment Management LLC bought a new stake in Enphase Energy in the 3rd quarter worth about $34,000. Quarry LP purchased a new position in Enphase Energy in the 3rd quarter worth about $37,000. Venturi Wealth Management LLC lifted its stake in Enphase Energy by 318.1% during the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 509 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in shares of Enphase Energy during the 3rd quarter valued at about $55,000. 72.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ENPH. JPMorgan Chase & Co. decreased their price objective on shares of Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Susquehanna decreased their target price on shares of Enphase Energy from $79.00 to $76.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Glj Research restated a “sell” rating and issued a $50.69 price target on shares of Enphase Energy in a research note on Tuesday, February 4th. Canaccord Genuity Group upgraded Enphase Energy from a “hold” rating to a “buy” rating and upped their price objective for the company from $76.00 to $82.00 in a research report on Wednesday, February 5th. Finally, Craig Hallum dropped their target price on Enphase Energy from $123.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $90.42.

Insider Activity at Enphase Energy

In other news, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 1,881,760 shares of the company’s stock, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mandy Yang sold 1,319 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 78,524 shares of the company’s stock, valued at $4,972,139.68. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Enphase Energy Price Performance

Shares of Enphase Energy stock opened at $61.54 on Monday. The stock has a 50 day moving average of $62.60 and a 200 day moving average of $77.06. Enphase Energy, Inc. has a 12 month low of $51.63 and a 12 month high of $141.63. The firm has a market cap of $8.15 billion, a PE ratio of 83.16 and a beta of 2.12. 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 (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. On average, research analysts expect that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

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.