Tairen Capital Ltd lifted its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Get Rating) by 146.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 350,794 shares of the semiconductor company’s stock after purchasing an additional 208,394 shares during the quarter. Enphase Energy accounts for 11.1% of Tairen Capital Ltd’s investment portfolio, making the stock its 4th largest holding. Tairen Capital Ltd owned 0.26% of Enphase Energy worth $97,335,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of ENPH. GHP Investment Advisors Inc. bought a new stake in shares of Enphase Energy during the second quarter worth about $26,000. Glassman Wealth Services grew its position in Enphase Energy by 55.1% in the 2nd quarter. Glassman Wealth Services now owns 138 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 49 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in Enphase Energy in the 3rd quarter worth about $28,000. KB Financial Partners LLC bought a new stake in Enphase Energy in the 1st quarter worth about $28,000. Finally, Zions Bancorporation N.A. grew its position in Enphase Energy by 105.6% in the 2nd quarter. Zions Bancorporation N.A. now owns 148 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 76 shares in the last quarter. Institutional investors and hedge funds own 73.79% of the company’s stock.
Insider Activity at Enphase Energy
In related news, CEO Badrinarayanan Kothandaraman sold 36,327 shares of the stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $327.65, for a total transaction of $11,902,541.55. Following the transaction, the chief executive officer now owns 1,131,459 shares of the company’s stock, valued at approximately $370,722,541.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman sold 36,327 shares of the firm’s stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $327.65, for a total value of $11,902,541.55. Following the sale, the chief executive officer now owns 1,131,459 shares of the company’s stock, valued at approximately $370,722,541.35. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David A. Ranhoff sold 7,500 shares of the firm’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $303.43, for a total transaction of $2,275,725.00. Following the completion of the sale, the executive vice president now directly owns 85,402 shares in the company, valued at approximately $25,913,528.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,174 shares of company stock valued at $45,218,092. Insiders own 4.80% of the company’s stock.
Enphase Energy Trading Up 4.2 %
Shares of ENPH stock traded up $8.84 on Wednesday, hitting $217.19. 2,527,781 shares of the company’s stock traded hands, compared to its average volume of 4,966,505. The company has a debt-to-equity ratio of 1.45, a quick ratio of 3.31 and a current ratio of 3.55. Enphase Energy, Inc. has a one year low of $118.57 and a one year high of $339.92. The company’s fifty day simple moving average is $255.17 and its 200 day simple moving average is $278.15. The stock has a market capitalization of $29.52 billion, a price-to-earnings ratio of 75.22, a P/E/G ratio of 1.14 and a beta of 1.34.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. Janney Montgomery Scott assumed coverage on shares of Enphase Energy in a research report on Friday, February 3rd. They issued a “neutral” rating and a $238.00 price objective for the company. Northland Securities raised shares of Enphase Energy from a “market perform” rating to an “outperform” rating and set a $365.00 target price for the company in a research report on Monday, December 19th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Enphase Energy from $330.00 to $285.00 and set a “buy” rating for the company in a research report on Tuesday, January 17th. Susquehanna Bancshares downgraded shares of Enphase Energy to a “neutral” rating and set a $365.00 target price for the company. in a research report on Thursday, December 15th. Finally, Oppenheimer increased their target price on shares of Enphase Energy from $323.00 to $328.00 in a research report on Wednesday, February 8th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $305.48.
Enphase Energy Profile
Enphase Energy, Inc engages in the design, development, manufacture and sale of micro inverter systems for the solar photovoltaic industry. Its products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps. The company was founded by Raghuveer R.