Sumitomo Mitsui DS Asset Management Company Ltd Lowers Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Sumitomo Mitsui DS Asset Management Company Ltd decreased its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 43.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,410 shares of the semiconductor company’s stock after selling 27,656 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Enphase Energy were worth $4,811,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. grew its holdings in shares of 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 purchasing an additional 4,078,723 shares in the last quarter. Nordea Investment Management AB increased its holdings in Enphase Energy by 158.8% during the 4th quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock worth $109,083,000 after purchasing an additional 501,385 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Enphase Energy by 164.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 355,816 shares of the semiconductor company’s stock valued at $42,751,000 after purchasing an additional 221,281 shares in the last quarter. DNB Asset Management AS boosted its stake in shares of Enphase Energy by 39.5% in the 4th quarter. DNB Asset Management AS now owns 627,983 shares of the semiconductor company’s stock valued at $82,982,000 after buying an additional 177,686 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Enphase Energy by 348.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock worth $29,525,000 after buying an additional 173,628 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Stock Up 3.8 %

ENPH opened at $110.51 on Tuesday. The stock has a market capitalization of $15.03 billion, a price-to-earnings ratio of 36.11, a price-to-earnings-growth ratio of 3.07 and a beta of 1.47. Enphase Energy, Inc. has a 12 month low of $73.49 and a 12 month high of $228.36. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19. The business has a 50-day moving average of $119.48 and a two-hundred day moving average of $112.01.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The firm had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. On average, research analysts expect that Enphase Energy, Inc. will post 2.01 earnings per share for the current year.

Insider Transactions at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $108.89, for a total transaction of $544,450.00. Following the completion of the sale, the executive vice president now owns 124,948 shares in the company, valued at approximately $13,605,587.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the transaction, the executive vice president now owns 124,948 shares of the company’s stock, valued at approximately $13,605,587.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average price 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 in the company, valued at approximately $199,514,312.34. The disclosure for this purchase can be found here. Insiders have sold a total of 34,285 shares of company stock worth $4,054,428 in the last three months. 3.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ENPH shares. BMO Capital Markets upped their price objective on Enphase Energy from $106.00 to $110.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th. Morgan Stanley increased their price target on shares of Enphase Energy from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Susquehanna reiterated a “positive” rating and issued a $140.00 target price on shares of Enphase Energy in a research note on Friday, April 5th. Truist Financial raised Enphase Energy from a “hold” rating to a “buy” rating and increased their price target for the stock from $85.00 to $145.00 in a report on Tuesday, January 23rd. Finally, DZ Bank initiated coverage on shares of Enphase Energy in a research note on Wednesday, April 17th. They issued a “hold” rating and a $116.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and a consensus target price of $147.84.

Enphase Energy Company 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.