Nordea Investment Management AB Boosts Holdings in Enphase Energy, Inc. $ENPH

Nordea Investment Management AB grew its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 1,246.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,948 shares of the semiconductor company’s stock after purchasing an additional 147,146 shares during the period. Nordea Investment Management AB owned approximately 0.12% of Enphase Energy worth $5,652,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ENPH. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Enphase Energy by 431.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 514 shares during the period. Salomon & Ludwin LLC boosted its position in shares of Enphase Energy by 761.0% during the 3rd quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 761 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Enphase Energy by 199.7% during the 3rd quarter. Geneos Wealth Management Inc. now owns 920 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 613 shares during the last quarter. CX Institutional grew its holdings in shares of Enphase Energy by 135.4% during the second quarter. CX Institutional now owns 1,083 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 623 shares in the last quarter. Finally, Manchester Capital Management LLC increased its position in shares of Enphase Energy by 24,040.0% in the second quarter. Manchester Capital Management LLC now owns 1,207 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 1,202 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

Insider Activity at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was bought at an average price of $30.93 per share, for a total transaction of $309,300.00. Following the completion of the acquisition, the chief executive officer directly owned 1,630,632 shares in the company, valued at $50,435,447.76. The trade was a 0.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thurman J. Rodgers sold 150,000 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $29.13, for a total value of $4,369,500.00. Following the completion of the sale, the director directly owned 1,733,596 shares of the company’s stock, valued at $50,499,651.48. The trade was a 7.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.10% of the stock is owned by company insiders.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $34.98 on Friday. The company has a market capitalization of $4.58 billion, a P/E ratio of 24.12 and a beta of 1.35. Enphase Energy, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $70.78. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.88 and a current ratio of 2.04. The stock has a 50 day moving average price of $31.56 and a two-hundred day moving average price of $34.75.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.30. Enphase Energy had a net margin of 12.93% and a return on equity of 25.67%. The firm had revenue of $410.43 million for the quarter, compared to analysts’ expectations of $364.64 million. During the same quarter last year, the business earned $0.65 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. Analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Analysts Set New Price Targets

ENPH has been the subject of several research analyst reports. Wall Street Zen lowered shares of Enphase Energy from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reiterated a “sell (d)” rating on shares of Enphase Energy in a research report on Wednesday, October 8th. Loop Capital set a $31.00 price objective on Enphase Energy in a report on Thursday, October 30th. JPMorgan Chase & Co. cut their target price on Enphase Energy from $37.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, December 8th. Finally, Zacks Research cut shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Six research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and thirteen have issued a Sell rating to the company. Based on data from MarketBeat.com, Enphase Energy presently has a consensus rating of “Reduce” and an average price target of $40.39.

About Enphase Energy

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.