Canada Pension Plan Investment Board Purchases Shares of 488,740 Enphase Energy, Inc. (NASDAQ:ENPH)

Canada Pension Plan Investment Board purchased a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 488,740 shares of the semiconductor company’s stock, valued at approximately $59,128,000. Canada Pension Plan Investment Board owned 0.36% of Enphase Energy at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ENPH. Baillie Gifford & Co. boosted its holdings in Enphase Energy by 387,343.1% during the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after acquiring an additional 4,078,723 shares during the period. Norges Bank acquired a new position in shares of Enphase Energy during the fourth quarter valued at about $149,425,000. Westfield Capital Management Co. LP acquired a new position in shares of Enphase Energy during the fourth quarter valued at about $41,068,000. Panagora Asset Management Inc. raised its position in shares of Enphase Energy by 3,396.9% during the fourth quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company’s stock valued at $34,711,000 after buying an additional 255,175 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Enphase Energy by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock valued at $2,066,846,000 after buying an additional 192,854 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ENPH has been the subject of a number of research analyst reports. Guggenheim upped their price objective on shares of Enphase Energy from $92.00 to $93.00 and gave the company a “sell” rating in a research report on Wednesday. Mizuho cut their price objective on shares of Enphase Energy from $150.00 to $148.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Oppenheimer upped their price objective on shares of Enphase Energy from $133.00 to $134.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Susquehanna upped their price objective on shares of Enphase Energy from $140.00 to $147.00 and gave the company a “positive” rating in a research report on Monday, July 15th. Finally, Jefferies Financial Group lowered shares of Enphase Energy from a “buy” rating to a “hold” rating and dropped their price target for the stock from $135.00 to $111.00 in a research report on Wednesday, April 24th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $129.70.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, CFO Mandy Yang acquired 4,000 shares of Enphase Energy stock in a transaction on Thursday, May 2nd. The shares were purchased at an average cost of $104.24 per share, with a total value of $416,960.00. Following the completion of the purchase, the chief financial officer now owns 62,973 shares in the company, valued at $6,564,305.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Enphase Energy news, CFO Mandy Yang acquired 4,000 shares of Enphase Energy stock in a transaction on Thursday, May 2nd. The shares were purchased at an average cost of $104.24 per share, with a total value of $416,960.00. Following the completion of the purchase, the chief financial officer now owns 62,973 shares in the company, valued at $6,564,305.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $123.27, for a total transaction of $616,350.00. Following the completion of the transaction, the executive vice president now directly owns 107,943 shares in the company, valued at $13,306,133.61. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Enphase Energy Price Performance

ENPH opened at $119.34 on Friday. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $175.59. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.78. The company’s 50 day simple moving average is $115.31 and its 200-day simple moving average is $115.32. The stock has a market capitalization of $16.16 billion, a P/E ratio of 62.16, a price-to-earnings-growth ratio of 5.82 and a beta of 1.71.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The company had revenue of $303.80 million for the quarter, compared to the consensus estimate of $309.73 million. During the same period last year, the company earned $1.16 earnings per share. Enphase Energy’s revenue for the quarter was down 57.3% compared to the same quarter last year. Sell-side analysts anticipate that Enphase Energy, Inc. will post 1.24 earnings per share for the current fiscal year.

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.