Columbia Asset Management Cuts Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Columbia Asset Management decreased its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 31.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,005 shares of the semiconductor company’s stock after selling 1,410 shares during the period. Columbia Asset Management’s holdings in Enphase Energy were worth $206,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Enphase Energy during the third quarter worth about $37,000. Venturi Wealth Management LLC increased its stake in Enphase Energy by 318.1% during the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after buying an additional 509 shares during the period. Sava Infond d.o.o. acquired a new stake in Enphase Energy during the 4th quarter worth approximately $69,000. Avior Wealth Management LLC lifted its holdings in Enphase Energy by 269.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,045 shares of the semiconductor company’s stock worth $72,000 after buying an additional 762 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp purchased a new position in Enphase Energy in the 4th quarter valued at approximately $96,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Trading Up 0.5 %

Shares of ENPH stock opened at $62.39 on Wednesday. The company has a market capitalization of $8.26 billion, a P/E ratio of 84.31 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 business’s 50 day moving average is $62.20 and its two-hundred day moving average is $74.79. Enphase Energy, Inc. has a twelve month low of $51.63 and a twelve month high of $141.63.

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

Insider Transactions at Enphase Energy

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

Analyst Upgrades and Downgrades

ENPH has been the topic of a number of recent research reports. Truist Financial reaffirmed a “hold” rating and set a $65.00 price objective (down previously from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. Susquehanna cut their price target on Enphase Energy from $79.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. JPMorgan Chase & Co. decreased their price objective on Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Citigroup downgraded Enphase Energy from a “neutral” rating to a “negative” rating in a research report on Wednesday, March 26th. Finally, Barclays reduced their target price on shares of Enphase Energy from $91.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $90.36.

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.