Clearbridge Investments LLC Has $10.51 Million Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Clearbridge Investments LLC decreased its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 14.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 153,073 shares of the semiconductor company’s stock after selling 25,227 shares during the period. Clearbridge Investments LLC’s holdings in Enphase Energy were worth $10,513,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of Enphase Energy during the 3rd quarter valued at about $37,000. Venturi Wealth Management LLC grew its position in Enphase Energy by 318.1% in the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 509 shares during the last quarter. Sava Infond d.o.o. bought a new position in shares of Enphase Energy during the 4th quarter worth about $69,000. Avior Wealth Management LLC lifted its stake in shares of Enphase Energy by 269.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,045 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 762 shares during the period. Finally, Murphy & Mullick Capital Management Corp bought a new position in Enphase Energy during the fourth quarter valued at about $96,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Redburn Atlantic started coverage on Enphase Energy in a research report on Monday, March 3rd. They issued a “neutral” rating for the company. JPMorgan Chase & Co. decreased their price target on shares of Enphase Energy from $112.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Guggenheim upgraded Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price objective on the stock in a research note on Friday, January 31st. BMO Capital Markets reduced their target price on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Finally, Citigroup cut shares of Enphase Energy from a “neutral” rating to a “negative” rating in a research report on Wednesday, March 26th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $90.36.

Insider Activity

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

Enphase Energy Stock Up 0.2 %

Shares of NASDAQ:ENPH opened at $62.52 on Thursday. The company has a 50 day moving average price of $62.23 and a two-hundred day moving average price of $74.70. The company has a market capitalization of $8.28 billion, a PE ratio of 84.49 and a beta of 2.12. Enphase Energy, Inc. has a 52 week low of $51.63 and a 52 week high of $141.63. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53.

Enphase Energy (NASDAQ:ENPH) last posted its 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%. Analysts forecast that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

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.