Clarity Capital Partners LLC Cuts Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Clarity Capital Partners LLC trimmed its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 3.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,919 shares of the semiconductor company’s stock after selling 220 shares during the quarter. Clarity Capital Partners LLC’s holdings in Enphase Energy were worth $716,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in Enphase Energy during the 4th quarter valued at approximately $206,000. Legato Capital Management LLC bought a new stake in shares of Enphase Energy in the 4th quarter worth approximately $1,542,000. Assenagon Asset Management S.A. lifted its holdings in shares of Enphase Energy by 348.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock worth $29,525,000 after purchasing an additional 173,628 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Enphase Energy in the 4th quarter worth approximately $566,000. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Enphase Energy by 92.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock worth $380,000 after purchasing an additional 1,521 shares during the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Enphase Energy

In related news, Director Thurman J. Rodgers sold 319,526 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the completion of the sale, the director now owns 1,984,562 shares in the company, valued at approximately $251,106,629.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $116.29, for a total value of $581,450.00. Following the completion of the transaction, the executive vice president now directly owns 119,948 shares of the company’s stock, valued at approximately $13,948,752.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thurman J. Rodgers sold 319,526 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total value of $40,429,624.78. Following the completion of the transaction, the director now directly owns 1,984,562 shares of the company’s stock, valued at $251,106,629.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 349,526 shares of company stock worth $43,721,225. 3.40% of the stock is owned by corporate insiders.

Enphase Energy Stock Up 3.1 %

Shares of ENPH stock traded up $3.16 on Wednesday, reaching $106.75. 2,972,994 shares of the company’s stock traded hands, compared to its average volume of 4,082,528. The company has a market capitalization of $14.52 billion, a P/E ratio of 55.60, a price-to-earnings-growth ratio of 4.23 and a beta of 1.71. Enphase Energy, Inc. has a 12-month low of $73.49 and a 12-month high of $192.22. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.78 and a current ratio of 4.16. The business’s 50 day moving average price is $115.51 and its two-hundred day moving average price is $116.58.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.17). Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. The firm had revenue of $263.34 million during the quarter, compared to analysts’ expectations of $280.06 million. On average, equities analysts forecast that Enphase Energy, Inc. will post 1.43 earnings per share for the current year.

Wall Street Analyst Weigh In

ENPH has been the topic of several recent research reports. BMO Capital Markets cut their price target on Enphase Energy from $118.00 to $113.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th. Wells Fargo & Company cut their target price on Enphase Energy from $141.00 to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Susquehanna reaffirmed a “positive” rating and set a $140.00 target price on shares of Enphase Energy in a research note on Friday, April 5th. Barclays raised Enphase Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $115.00 to $134.00 in a research note on Friday, April 26th. Finally, Craig Hallum cut their target price on Enphase Energy from $159.00 to $147.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and a consensus price target of $130.45.

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.