California Public Employees Retirement System Sells 60,048 Shares of Enphase Energy, Inc. $ENPH

California Public Employees Retirement System lessened its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 26.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 163,845 shares of the semiconductor company’s stock after selling 60,048 shares during the period. California Public Employees Retirement System’s holdings in Enphase Energy were worth $6,195,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Enphase Energy by 431.9% in the 2nd 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 buying an additional 514 shares during the period. Glass Jacobson Investment Advisors llc increased its stake in shares of Enphase Energy by 77.8% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 350 shares during the period. Ascentis Independent Advisors bought a new position in shares of Enphase Energy during the first quarter valued at approximately $33,000. Activest Wealth Management raised its holdings in shares of Enphase Energy by 52,000.0% during the fourth quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 1,040 shares in the last quarter. Finally, Danske Bank A S purchased a new stake in Enphase Energy in the third quarter worth $39,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $36.70 on Monday. Enphase Energy, Inc. has a 1 year low of $25.77 and a 1 year high of $73.74. The firm’s 50-day moving average is $51.45 and its 200 day moving average is $43.77. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 36.34 and a beta of 1.62. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.80 and a quick ratio of 3.20.

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

Insider Activity at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were acquired at an average cost of $67.50 per share, for a total transaction of $337,500.00. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Mora sold 700 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $64.20, for a total value of $44,940.00. Following the sale, the director owned 13,922 shares in the company, valued at approximately $893,792.40. This represents a 4.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ENPH shares. Sanford C. Bernstein assumed coverage on shares of Enphase Energy in a report on Tuesday, June 16th. They issued a “market perform” rating and a $56.00 price target on the stock. Weiss Ratings upgraded shares of Enphase Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. Barclays raised shares of Enphase Energy from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $30.00 to $51.00 in a research report on Thursday, June 18th. The Goldman Sachs Group boosted their price target on shares of Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Finally, Glj Research reissued a “sell” rating and issued a $21.70 price target on shares of Enphase Energy in a research note on Thursday, June 11th. Nine investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $46.90.

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.