Prudential Financial Inc. Cuts Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Prudential Financial Inc. trimmed its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 13.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 68,788 shares of the semiconductor company’s stock after selling 11,093 shares during the period. Prudential Financial Inc.’s holdings in Enphase Energy were worth $4,305,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP bought a new stake in Enphase Energy in the third quarter worth $37,000. Venturi Wealth Management LLC raised its position in shares of Enphase Energy by 318.1% in the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 509 shares during the last quarter. Avior Wealth Management LLC boosted its stake in Enphase Energy by 269.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,045 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 762 shares in the last quarter. Rakuten Securities Inc. grew its position in Enphase Energy by 116.4% during the 4th quarter. Rakuten Securities Inc. now owns 1,435 shares of the semiconductor company’s stock valued at $99,000 after purchasing an additional 772 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new position in Enphase Energy in the fourth quarter worth about $175,000. 72.12% of the stock is owned by institutional investors.

Enphase Energy Stock Up 0.6 %

NASDAQ ENPH opened at $62.05 on Tuesday. The stock has a 50 day moving average price of $62.21 and a 200-day moving average price of $75.12. Enphase Energy, Inc. has a one year low of $51.63 and a one year high of $141.63. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The company has a market capitalization of $8.22 billion, a P/E ratio of 83.85 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. As a group, equities analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction on Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the transaction, the director now directly owns 1,881,760 shares of the company’s stock, valued at $115,276,617.60. The trade was a 5.05 % 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. Also, CFO Mandy Yang sold 1,319 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the completion of the sale, the chief financial officer now directly owns 78,524 shares in the company, valued at approximately $4,972,139.68. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ENPH. JPMorgan Chase & Co. cut their target price on Enphase Energy from $112.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. OTR Global upgraded Enphase Energy from a “negative” rating to a “mixed” rating in a report on Friday, December 20th. BMO Capital Markets lowered their target price on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Barclays reduced their price target on shares of Enphase Energy from $91.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Finally, Susquehanna lowered their price objective on shares of Enphase Energy from $79.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and an average target price of $90.36.

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.