Enphase Energy, Inc. (NASDAQ:ENPH) Shares Purchased by Tairen Capital Ltd
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 &…
From the Equity Insider archive. This article dates from Feb 16, 2023 and is preserved as first published.
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.
In related news, CEO Badrinarayanan Kothandaraman sold 36,327 shares of the stock in a transaction on Wednesday, December 14th.
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.
