Enphase Energy (NASDAQ:ENPH) Stock Price Up 7.5% on Insider Buying Activity

Enphase Energy, Inc. (NASDAQ:ENPH) shares traded up 7.5% on Friday following insider buying activity. The company traded as high as $117.26 and last traded at $114.00. 2,161,551 shares changed hands during trading, a decline of 48% from the average session volume of 4,180,680 shares. The stock had previously closed at $106.06.

Specifically, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.89, for a total value of $544,450.00. Following the sale, the executive vice president now owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the acquisition, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The disclosure for this purchase can be found here. Insiders have sold 54,285 shares of company stock valued at $6,148,228 over the last quarter. Company insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ENPH. Oppenheimer upped their price objective on Enphase Energy from $133.00 to $134.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Citigroup cut Enphase Energy from a “buy” rating to a “neutral” rating and lowered their price target for the company from $126.00 to $121.00 in a report on Friday, April 5th. Canaccord Genuity Group dropped their price objective on shares of Enphase Energy from $132.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. StockNews.com cut shares of Enphase Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $140.00 price target on shares of Enphase Energy in a research report on Wednesday, April 24th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and an average price target of $133.45.

Enphase Energy Trading Up 7.7 %

The business’s 50-day moving average price is $116.24 and its 200 day moving average price is $111.16. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 3.78. The firm has a market capitalization of $15.54 billion, a price-to-earnings ratio of 59.48, a PEG ratio of 3.79 and a beta of 1.50.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. The firm had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. On average, equities analysts forecast that Enphase Energy, Inc. will post 1.59 earnings per share for the current fiscal year.

Institutional Trading of Enphase Energy

Several institutional investors have recently added to or reduced their stakes in ENPH. Baillie Gifford & Co. raised its holdings in Enphase Energy by 387,343.1% in the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after acquiring an additional 4,078,723 shares in the last quarter. Norges Bank acquired a new stake in Enphase Energy in the fourth quarter valued at $149,425,000. Nordea Investment Management AB raised its holdings in Enphase Energy by 158.8% in the fourth quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock valued at $109,083,000 after acquiring an additional 501,385 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in Enphase Energy in the fourth quarter valued at $41,068,000. Finally, Panagora Asset Management Inc. raised its holdings in shares of Enphase Energy by 3,396.9% during the fourth quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company’s stock worth $34,711,000 after purchasing an additional 255,175 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

About Enphase Energy

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.