DekaBank Deutsche Girozentrale Has $28.45 Million Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

DekaBank Deutsche Girozentrale raised its position in Enphase Energy, Inc. (NASDAQ:ENPH – Get Rating) by 167.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,037 shares of the semiconductor company’s stock after acquiring an additional 95,295 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Enphase Energy were worth $28,454,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Enphase Energy during the 4th quarter worth about $165,172,000. Brown Advisory Inc. increased its position in Enphase Energy by 55.7% during the fourth quarter. Brown Advisory Inc. now owns 1,227,816 shares of the semiconductor company’s stock worth $224,617,000 after acquiring an additional 438,989 shares during the period. Ardevora Asset Management LLP bought a new position in Enphase Energy during the fourth quarter worth about $57,908,000. BlackRock Inc. increased its holdings in Enphase Energy by 2.2% in the 3rd quarter. BlackRock Inc. now owns 13,930,559 shares of the semiconductor company’s stock valued at $2,089,165,000 after buying an additional 300,326 shares during the period. Finally, Worldquant Millennium Advisors LLC increased its holdings in Enphase Energy by 3,190.2% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 200,834 shares of the semiconductor company’s stock valued at $30,119,000 after buying an additional 194,730 shares during the period. Hedge funds and other institutional investors own 70.39% of the company’s stock.

Several brokerages recently issued reports on ENPH. Piper Sandler lifted their price target on shares of Enphase Energy from $227.00 to $237.00 in a report on Monday, March 14th. Citigroup dropped their price target on shares of Enphase Energy from $255.00 to $205.00 in a research report on Friday, January 28th. StockNews.com began coverage on shares of Enphase Energy in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. TheStreet upgraded shares of Enphase Energy from a “c+” rating to a “b” rating in a research report on Thursday. Finally, Bank of America downgraded shares of Enphase Energy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $297.00 to $187.00 in a research report on Wednesday, January 5th. Seven investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $237.39.

In related news, EVP David A. Ranhoff sold 15,376 shares of the business’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $162.81, for a total value of $2,503,366.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Badrinarayanan Kothandaraman sold 37,500 shares of the company’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $200.01, for a total transaction of $7,500,375.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 255,577 shares of company stock valued at $43,780,910. Company insiders own 5.00% of the company’s stock.

ENPH stock traded down $11.81 during midday trading on Friday, reaching $195.14. 1,819,293 shares of the company’s stock traded hands, compared to its average volume of 2,442,033. The company has a market cap of $26.14 billion, a price-to-earnings ratio of 191.32 and a beta of 1.27. The firm’s fifty day moving average price is $169.41 and its 200-day moving average price is $183.12. The company has a quick ratio of 3.16, a current ratio of 3.33 and a debt-to-equity ratio of 2.21. Enphase Energy, Inc. has a 52 week low of $108.88 and a 52 week high of $282.46.

Enphase Energy (NASDAQ:ENPH – Get Rating) last posted its earnings results on Tuesday, February 8th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.18. Enphase Energy had a net margin of 10.52% and a return on equity of 39.09%. The firm had revenue of $412.72 million during the quarter, compared to analyst estimates of $399.62 million. During the same quarter in the prior year, the business posted $0.47 EPS. The business’s revenue was up 55.8% compared to the same quarter last year. Analysts forecast that Enphase Energy, Inc. will post 2.2 earnings per share for the current year.

Enphase Energy Company Profile (Get Rating)

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 services.

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