Enphase Energy, Inc. $ENPH Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. grew its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 5,481.5% during the first quarter, Holdings Channel reports. The firm owned 113,974 shares of the semiconductor company’s stock after purchasing an additional 111,932 shares during the quarter. Bessemer Group Inc.’s holdings in Enphase Energy were worth $4,309,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of 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 worth $25,000 after purchasing an additional 514 shares in the last quarter. Glass Jacobson Investment Advisors llc grew its holdings in shares of Enphase Energy by 77.8% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 350 shares in the last quarter. Activest Wealth Management increased its stake in Enphase Energy by 52,000.0% during the 4th quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company’s stock worth $33,000 after buying an additional 1,040 shares during the period. Ascentis Independent Advisors purchased a new stake in Enphase Energy during the 1st quarter worth approximately $33,000. Finally, Danske Bank A S purchased a new stake in Enphase Energy during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ENPH. Glj Research reissued a “sell” rating and issued a $21.70 price target on shares of Enphase Energy in a research report on Thursday, June 11th. Citigroup cut their price objective on Enphase Energy from $37.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Roth Capital reiterated a “buy” rating on shares of Enphase Energy in a research note on Friday, May 22nd. JPMorgan Chase & Co. decreased their target price on Enphase Energy from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, April 29th. Finally, TD Cowen lowered their target price on Enphase Energy from $70.00 to $48.00 and set a “hold” rating for the company in a research note on Monday. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.20.

Insider Activity

In other news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average price of $67.50 per share, for a total transaction of $337,500.00. Following the completion of the purchase, the chief executive officer owned 1,645,632 shares in the company, valued at approximately $111,080,160. This trade represents a 0.30% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shanker Trivedi bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average cost of $53.91 per share, for a total transaction of $53,910.00. Following the acquisition, the director directly owned 1,000 shares of the company’s stock, valued at $53,910. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.90% of the company’s stock.

Enphase Energy Stock Down 5.1%

Shares of NASDAQ:ENPH opened at $39.46 on Tuesday. The firm’s 50 day moving average price is $51.95 and its 200 day moving average price is $43.60. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 39.07 and a beta of 1.62. Enphase Energy, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $73.74. The company has a quick ratio of 3.20, a current ratio of 3.80 and a debt-to-equity ratio of 0.52.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The company had revenue of $282.90 million during the quarter, compared to the consensus estimate of $282.27 million. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The firm’s quarterly revenue was down 20.6% on a year-over-year basis. As a group, equities research analysts predict that Enphase Energy, Inc. will post 0.82 earnings per share for the current fiscal year.

Enphase Energy Company Profile

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.