Pier Capital LLC Reduces Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Pier Capital LLC cut its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 12.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,290 shares of the semiconductor company’s stock after selling 460 shares during the quarter. Pier Capital LLC’s holdings in Enphase Energy were worth $226,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ENPH. Gould Capital LLC lifted its holdings in shares of Enphase Energy by 2.1% during the third quarter. Gould Capital LLC now owns 10,206 shares of the semiconductor company’s stock valued at $1,153,000 after purchasing an additional 212 shares during the last quarter. Avior Wealth Management LLC boosted its position in Enphase Energy by 6,975.0% during 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 period. Resources Management Corp CT ADV raised its holdings in Enphase Energy by 6.8% in the 3rd quarter. Resources Management Corp CT ADV now owns 4,542 shares of the semiconductor company’s stock worth $513,000 after acquiring an additional 290 shares during the period. Stone House Investment Management LLC acquired a new position in shares of Enphase Energy during the 3rd quarter worth about $34,000. Finally, Inspire Investing LLC lifted its holdings in shares of Enphase Energy by 2.0% during the fourth quarter. Inspire Investing LLC now owns 15,988 shares of the semiconductor company’s stock worth $1,098,000 after buying an additional 318 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

Insider Buying and Selling at Enphase Energy

In related news, Director Thurman J. Rodgers sold 100,000 shares of the business’s stock in a transaction that occurred 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 sale, 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 SEC, which is available at this link. Also, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the transaction, the chief financial officer now owns 78,524 shares in the company, valued at approximately $4,972,139.68. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Enphase Energy Trading Up 1.0 %

Shares of NASDAQ:ENPH opened at $62.16 on Tuesday. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. The firm has a market cap of $8.23 billion, a P/E ratio of 84.00 and a beta of 2.12. The company has a 50 day moving average of $62.50 and a 200-day moving average of $76.71. Enphase Energy, Inc. has a twelve month low of $51.63 and a twelve month high of $141.63.

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

Analyst Ratings Changes

Several research analysts recently issued reports on ENPH shares. Craig Hallum cut their price objective on Enphase Energy from $123.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Truist Financial reaffirmed a “hold” rating and issued a $65.00 price objective (down from $100.00) on shares of Enphase Energy in a research note on Thursday, January 16th. Barclays lowered their price target on Enphase Energy from $91.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Oppenheimer raised their price objective on Enphase Energy from $101.00 to $103.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company cut their price target on shares of Enphase Energy from $83.00 to $77.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $90.42.

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.