ProShare Advisors LLC Lowers Stock Position in Enphase Energy, Inc. $ENPH

ProShare Advisors LLC reduced its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 53.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,822 shares of the semiconductor company’s stock after selling 29,497 shares during the period. ProShare Advisors LLC’s holdings in Enphase Energy were worth $914,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. lifted its position in shares of Enphase Energy by 28.1% during the 2nd quarter. Invesco Ltd. now owns 6,743,674 shares of the semiconductor company’s stock worth $267,387,000 after buying an additional 1,479,153 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Enphase Energy by 2.1% during the second quarter. Geode Capital Management LLC now owns 3,542,878 shares of the semiconductor company’s stock valued at $140,217,000 after acquiring an additional 73,459 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Enphase Energy by 9.6% during the third quarter. Federated Hermes Inc. now owns 1,619,109 shares of the semiconductor company’s stock worth $57,300,000 after acquiring an additional 141,358 shares during the period. Marshall Wace LLP boosted its position in Enphase Energy by 56.6% in the second quarter. Marshall Wace LLP now owns 1,047,491 shares of the semiconductor company’s stock worth $41,533,000 after purchasing an additional 378,659 shares during the last quarter. Finally, Norges Bank bought a new position in Enphase Energy in the 2nd quarter valued at $40,946,000. 72.12% of the stock is owned by institutional investors.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $43.49 on Monday. The firm’s 50 day moving average is $36.84 and its 200 day moving average is $35.08. The stock has a market capitalization of $5.69 billion, a P/E ratio of 33.71 and a beta of 1.37. Enphase Energy, Inc. has a 12 month low of $25.77 and a 12 month high of $70.78. The company has a current ratio of 2.07, a quick ratio of 1.84 and a debt-to-equity ratio of 0.53.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.19. The business had revenue of $343.32 million during the quarter, compared to analyst estimates of $340.45 million. Enphase Energy had a net margin of 11.69% and a return on equity of 20.31%. Enphase Energy’s revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 EPS. On average, sell-side analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Mandy Yang sold 6,000 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $33.01, for a total transaction of $198,060.00. Following the sale, the executive vice president directly owned 68,987 shares in the company, valued at $2,277,260.87. This represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Thurman J. Rodgers sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $29.13, for a total transaction of $4,369,500.00. Following the completion of the transaction, the director owned 1,733,596 shares of the company’s stock, valued at $50,499,651.48. This trade represents a 7.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 157,100 shares of company stock valued at $4,624,815 in the last ninety days. 3.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ENPH has been the topic of a number of recent analyst reports. Northland Securities lifted their target price on Enphase Energy from $52.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 29th. JPMorgan Chase & Co. lifted their price objective on shares of Enphase Energy from $33.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Enphase Energy in a research report on Thursday, January 22nd. Evercore set a $33.00 price target on shares of Enphase Energy in a research note on Wednesday, October 29th. Finally, BMO Capital Markets upgraded Enphase Energy from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $31.00 to $41.00 in a research note on Wednesday, February 4th. Nine analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $42.70.

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.