Nordea Investment Management AB Sells 2,607,562 Shares of Enphase Energy, Inc. $ENPH

Nordea Investment Management AB reduced its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 99.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,802 shares of the semiconductor company’s stock after selling 2,607,562 shares during the period. Nordea Investment Management AB’s holdings in Enphase Energy were worth $465,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harbour Investments Inc. raised its stake in Enphase Energy by 34.8% in the 2nd quarter. Harbour Investments Inc. now owns 1,725 shares of the semiconductor company’s stock valued at $68,000 after acquiring an additional 445 shares during the period. TD Asset Management Inc raised its stake in Enphase Energy by 2.3% in the 2nd quarter. TD Asset Management Inc now owns 24,080 shares of the semiconductor company’s stock valued at $955,000 after acquiring an additional 546 shares during the period. RFG Advisory LLC raised its stake in Enphase Energy by 34.3% in the 2nd quarter. RFG Advisory LLC now owns 7,400 shares of the semiconductor company’s stock valued at $293,000 after acquiring an additional 1,890 shares during the period. Yousif Capital Management LLC raised its stake in Enphase Energy by 3.0% in the 2nd quarter. Yousif Capital Management LLC now owns 16,796 shares of the semiconductor company’s stock valued at $666,000 after acquiring an additional 482 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Enphase Energy in the 2nd quarter valued at about $192,000. 72.12% of the stock is currently owned by institutional investors.

Insider Activity at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was bought at an average price of $30.82 per share, with a total value of $154,100.00. Following the completion of the acquisition, the chief executive officer owned 1,620,632 shares of the company’s stock, valued at $49,947,878.24. This trade represents a 0.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.10% of the company’s stock.

Enphase Energy Stock Down 1.2%

Shares of NASDAQ ENPH opened at $35.64 on Friday. Enphase Energy, Inc. has a 12 month low of $29.89 and a 12 month high of $89.95. The company has a current ratio of 1.97, a quick ratio of 1.82 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of 27.84 and a beta of 1.56. The business has a 50-day moving average of $37.12 and a 200-day moving average of $40.54.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, July 22nd. The semiconductor company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. Enphase Energy had a return on equity of 24.55% and a net margin of 11.78%.The company had revenue of $363.15 million during the quarter, compared to analyst estimates of $359.14 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Enphase Energy’s revenue was up 19.7% on a year-over-year basis. Sell-side analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ENPH. Zacks Research upgraded Enphase Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Evercore ISI started coverage on Enphase Energy in a research report on Monday, October 6th. They set an “in-line” rating and a $40.00 price target on the stock. Bank of America decreased their price target on Enphase Energy from $31.00 to $30.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 23rd. Susquehanna decreased their price target on Enphase Energy from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Finally, Oppenheimer decreased their price target on Enphase Energy from $77.00 to $73.00 and set an “outperform” rating on the stock in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have assigned a Hold rating and thirteen have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $46.37.

Enphase Energy Profile

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.