Insider Selling: Madrone Partners, L.P. Sells 800,000 Shares of Enphase Energy Stock (ENPH)
Enphase Energy (NASDAQ:ENPH) major shareholder Madrone Partners, L.P. unloaded 800,000 shares of the company’s stock on the open market in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $10.03, for a total value of $8,024,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
ENPH has been the subject of a number of recent research reports. Analysts at Imperial Capital raised their price target on shares of Enphase Energy from $12.00 to $13.00 in a research note on Wednesday, August 6th. They now have an “outperform” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Enphase Energy in a research note on Wednesday, August 6th. They now have a $12.00 price target on the stock, up previously from $11.00. Finally, analysts at Roth Capital raised their price target on shares of Enphase Energy from $10.00 to $15.00 in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $13.00.
Enphase Energy (NASDAQ:ENPH) traded up 1.41% on Friday, hitting $13.69. 161,478 shares of the company’s stock traded hands. Enphase Energy has a 1-year low of $4.54 and a 1-year high of $13.76. The stock has a 50-day moving average of $10.81 and a 200-day moving average of $8.71. The company’s market cap is $587.9 million.
Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.01) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.02) by $0.01. The company had revenue of $82.00 million for the quarter, compared to the consensus estimate of $71.11 million. During the same quarter last year, the company posted ($0.12) earnings per share. Enphase Energy’s revenue was up 40.9% compared to the same quarter last year. Analysts expect that Enphase Energy will post $0.04 EPS for the current fiscal year.
Enphase Energy, Inc (NASDAQ:ENPH), designs, develops and sells microinverter systems for the solar photovoltaic industry.
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