Cambridge Trust Co. Trims Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Cambridge Trust Co. reduced its stake in Enphase Energy, Inc. (NASDAQ:ENPH – Get Rating) by 34.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,775 shares of the semiconductor company’s stock after selling 2,500 shares during the quarter. Cambridge Trust Co.’s holdings in Enphase Energy were worth $1,265,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mackenzie Financial Corp increased its stake in Enphase Energy by 21.6% in the second quarter. Mackenzie Financial Corp now owns 10,795 shares of the semiconductor company’s stock valued at $2,108,000 after purchasing an additional 1,920 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Enphase Energy by 12.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,508 shares of the semiconductor company’s stock valued at $1,466,000 after purchasing an additional 831 shares during the last quarter. Signaturefd LLC increased its stake in Enphase Energy by 31.5% in the third quarter. Signaturefd LLC now owns 1,569 shares of the semiconductor company’s stock valued at $435,000 after purchasing an additional 376 shares during the last quarter. Jackson Square Capital LLC increased its stake in Enphase Energy by 3.9% in the third quarter. Jackson Square Capital LLC now owns 1,738 shares of the semiconductor company’s stock valued at $482,000 after purchasing an additional 65 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in Enphase Energy in the second quarter valued at $4,836,000. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP David A. Ranhoff sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $203.25, for a total value of $1,524,375.00. Following the sale, the executive vice president now owns 97,102 shares of the company’s stock, valued at approximately $19,735,981.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Richard Mora sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $214.62, for a total value of $965,790.00. Following the sale, the director now directly owns 1,600 shares in the company, valued at approximately $343,392. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David A. Ranhoff sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $203.25, for a total value of $1,524,375.00. Following the completion of the sale, the executive vice president now owns 97,102 shares in the company, valued at $19,735,981.50. The disclosure for this sale can be found here. Company insiders own 4.80% of the company’s stock.

Enphase Energy Trading Down 8.7 %

Shares of NASDAQ ENPH opened at $183.64 on Friday. The company has a market cap of $25.07 billion, a price-to-earnings ratio of 66.30, a price-to-earnings-growth ratio of 1.20 and a beta of 1.49. Enphase Energy, Inc. has a 12-month low of $128.67 and a 12-month high of $339.92. The company has a current ratio of 3.55, a quick ratio of 3.31 and a debt-to-equity ratio of 1.45. The stock’s 50 day simple moving average is $218.78 and its 200 day simple moving average is $265.83.

Wall Street Analyst Weigh In

Several brokerages have commented on ENPH. Cowen upped their price target on Enphase Energy from $335.00 to $341.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 8th. Citigroup upped their price target on Enphase Energy from $205.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, March 10th. Scotiabank began coverage on Enphase Energy in a research note on Thursday, March 2nd. They set a “sector outperform” rating and a $300.00 price target for the company. Northland Securities upgraded Enphase Energy from a “market perform” rating to an “outperform” rating and set a $365.00 price target for the company in a research note on Monday, December 19th. Finally, Truist Financial dropped their price target on Enphase Energy from $325.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, February 3rd. Seven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $306.20.

Enphase Energy Company Profile

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Enphase Energy, Inc is a global energy technology company, which engages in the design, development, manufacture, and sale of micro inverter systems for the solar photovoltaic industry. The firm’s products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps.