Trust Asset Management LLC Makes New Investment in Enphase Energy, Inc. (NASDAQ:ENPH)

Trust Asset Management LLC purchased a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,636 shares of the semiconductor company’s stock, valued at approximately $216,000.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC increased its stake in shares of Enphase Energy by 6.3% in the 3rd quarter. CWM LLC now owns 4,040 shares of the semiconductor company’s stock valued at $485,000 after acquiring an additional 239 shares in the last quarter. AE Wealth Management LLC increased its stake in shares of Enphase Energy by 24.3% in the 3rd quarter. AE Wealth Management LLC now owns 14,940 shares of the semiconductor company’s stock valued at $1,795,000 after acquiring an additional 2,921 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of Enphase Energy by 108.3% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 625 shares of the semiconductor company’s stock valued at $75,000 after acquiring an additional 325 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Enphase Energy by 155.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,349 shares of the semiconductor company’s stock valued at $162,000 after acquiring an additional 820 shares in the last quarter. Finally, Oak Thistle LLC bought a new stake in shares of Enphase Energy in the 3rd quarter valued at $259,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Up 0.6 %

ENPH stock traded up $0.66 during trading on Thursday, reaching $107.83. 7,481,769 shares of the company traded hands, compared to its average volume of 4,216,611. Enphase Energy, Inc. has a 12 month low of $73.49 and a 12 month high of $192.22. The business has a 50 day simple moving average of $118.79 and a 200 day simple moving average of $111.93. The company has a market capitalization of $14.66 billion, a price-to-earnings ratio of 53.47, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a return on equity of 31.34% and a net margin of 15.10%. The company had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. On average, equities research analysts anticipate that Enphase Energy, Inc. will post 2.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on ENPH. Guggenheim lowered shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 price target for the company. in a research note on Wednesday. Truist Financial decreased their price target on shares of Enphase Energy from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday. TD Cowen boosted their price target on shares of Enphase Energy from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday. B. Riley boosted their price target on shares of Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a research note on Monday. Finally, Royal Bank of Canada decreased their price target on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $141.00.

Insider Transactions at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction dated 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 completion of the purchase, the chief executive officer now directly owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the transaction, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction that occurred 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 $13,605,587.72. The disclosure for this sale can be found here. Insiders sold a total of 34,285 shares of company stock worth $4,054,428 over the last three months. 3.40% of the stock is currently owned by insiders.

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.