Pier Capital LLC Sells 460 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Pier Capital LLC decreased its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 12.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,290 shares of the semiconductor company’s stock after selling 460 shares during the quarter. Pier Capital LLC’s holdings in Enphase Energy were worth $226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENPH. EntryPoint Capital LLC bought a new position in Enphase Energy in the 4th quarter valued at $270,000. Vanguard Group Inc. boosted its holdings in shares of Enphase Energy by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company’s stock worth $1,135,707,000 after buying an additional 44,782 shares during the last quarter. Mizuho Markets Cayman LP grew its position in shares of Enphase Energy by 118.6% during the 4th quarter. Mizuho Markets Cayman LP now owns 11,153 shares of the semiconductor company’s stock valued at $766,000 after acquiring an additional 6,050 shares during the period. Fox Run Management L.L.C. bought a new position in Enphase Energy during the fourth quarter valued at $233,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Enphase Energy in the 4th quarter valued at about $6,126,000. Institutional investors own 72.12% of the company’s stock.

Insider Buying and Selling at Enphase Energy

In other news, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction on Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the transaction, the director now owns 1,881,760 shares in the company, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the sale, the chief financial officer now owns 78,524 shares of the company’s stock, valued at $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

Enphase Energy Trading Up 1.0 %

Shares of ENPH stock opened at $62.16 on Tuesday. The stock has a market capitalization of $8.23 billion, a P/E ratio of 84.00 and a beta of 2.12. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. The firm’s 50 day moving average is $62.50 and its 200 day moving average is $76.71. Enphase Energy, Inc. has a 12-month low of $51.63 and a 12-month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. Research analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Analyst Ratings Changes

ENPH has been the subject of a number of analyst reports. TD Cowen cut their price objective on shares of Enphase Energy from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Craig Hallum cut their target price on Enphase Energy from $123.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Guggenheim raised shares of Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price target on the stock in a research note on Friday, January 31st. Piper Sandler cut their price objective on shares of Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Finally, Morgan Stanley reduced their target price on shares of Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $90.42.

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.