Cibc World Markets Corp Buys 2,869 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Cibc World Markets Corp increased its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 15.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,304 shares of the semiconductor company’s stock after acquiring an additional 2,869 shares during the quarter. Cibc World Markets Corp’s holdings in Enphase Energy were worth $1,463,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its position in shares of Enphase Energy by 32.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock worth $574,975,000 after purchasing an additional 2,028,691 shares in the last quarter. Swedbank AB raised its stake in Enphase Energy by 0.3% during the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after buying an additional 11,890 shares during the period. Geode Capital Management LLC lifted its holdings in Enphase Energy by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock worth $381,030,000 after acquiring an additional 20,579 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Enphase Energy by 6.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock worth $265,609,000 after acquiring an additional 142,491 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Enphase Energy by 131.6% during the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock worth $155,360,000 after purchasing an additional 1,258,778 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ENPH shares. Barclays lowered their target price on Enphase Energy from $91.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Piper Sandler dropped their price objective on shares of Enphase Energy from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Citigroup increased their target price on Enphase Energy from $71.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. BMO Capital Markets cut their price target on Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Finally, Canaccord Genuity Group upgraded Enphase Energy from a “hold” rating to a “buy” rating and increased their price objective for the stock from $76.00 to $82.00 in a report on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $90.42.

Enphase Energy Price Performance

Enphase Energy stock opened at $61.54 on Friday. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 83.16 and a beta of 2.12. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. Enphase Energy, Inc. has a 12 month low of $51.63 and a 12 month high of $141.63. The stock’s 50 day moving average is $62.60 and its 200-day moving average is $77.56.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, beating 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%. Equities research analysts expect that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Insider Buying and Selling

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction 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 completion of the transaction, the director now directly owns 1,881,760 shares of the company’s stock, valued at $115,276,617.60. The trade was a 5.05 % 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, CFO Mandy Yang sold 1,319 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the sale, the chief financial officer now directly owns 78,524 shares in the company, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

Enphase Energy Company Profile

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.