Larson Financial Group LLC Cuts Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Larson Financial Group LLC lowered its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 15.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 980 shares of the semiconductor company’s stock after selling 175 shares during the period. Larson Financial Group LLC’s holdings in Enphase Energy were worth $67,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ENPH. Avior Wealth Management LLC grew its position in shares of 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 in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Enphase Energy during the third quarter worth about $34,000. Quarry LP purchased a new stake in shares of Enphase Energy during the third quarter worth about $37,000. Venturi Wealth Management LLC grew its position in shares of Enphase Energy by 318.1% during the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 509 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Enphase Energy during the third quarter worth about $55,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insiders Place Their Bets

In other news, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction 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 transaction, the director now directly owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction 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 transaction, the chief financial officer now owns 78,524 shares in the company, valued at $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. 3.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays dropped 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. Piper Sandler dropped their price target on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Redburn Atlantic assumed coverage on Enphase Energy in a research note on Monday, March 3rd. They set a “neutral” rating for the company. JPMorgan Chase & Co. dropped their price target on Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada dropped their price target on Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating for the company in a research note on Friday, November 22nd. Three 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 company’s stock. Based on data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and a consensus price target of $90.42.

Enphase Energy Trading Down 3.9 %

ENPH opened at $58.48 on Thursday. The stock’s fifty day moving average is $64.15 and its two-hundred day moving average is $80.39. The company has a market capitalization of $7.75 billion, a P/E ratio of 79.03 and a beta of 2.12. Enphase Energy, Inc. has a 52 week low of $51.63 and a 52 week high of $141.63. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. Analysts forecast that Enphase Energy, Inc. will post 2.08 earnings per share for the current 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.