Monetta Financial Services Inc. Makes New Investment in Enphase Energy, Inc. (NASDAQ:ENPH)

Monetta Financial Services Inc. acquired a new position in Enphase Energy, Inc. (NASDAQ:ENPHGet Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,000 shares of the semiconductor company’s stock, valued at approximately $605,000.

Several other large investors have also made changes to their positions in ENPH. Teacher Retirement System of Texas lifted its position in shares of Enphase Energy by 5.7% in the first quarter. Teacher Retirement System of Texas now owns 25,955 shares of the semiconductor company’s stock valued at $5,237,000 after buying an additional 1,409 shares during the last quarter. Forsta AP Fonden lifted its stake in shares of Enphase Energy by 2.8% in the 1st quarter. Forsta AP Fonden now owns 26,100 shares of the semiconductor company’s stock valued at $5,266,000 after purchasing an additional 700 shares during the period. Brown Advisory Inc. increased its position in Enphase Energy by 22.4% in the 1st quarter. Brown Advisory Inc. now owns 1,503,239 shares of the semiconductor company’s stock valued at $302,984,000 after buying an additional 275,423 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Enphase Energy by 7.4% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 71,981 shares of the semiconductor company’s stock worth $14,524,000 after purchasing an additional 4,956 shares in the last quarter. Finally, AdvisorShares Investments LLC bought a new position in shares of Enphase Energy in the first quarter valued at approximately $194,000. Institutional investors and hedge funds own 68.30% of the company’s stock.

Insiders Place Their Bets

In related news, Director Richard Mora sold 2,825 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $297.33, for a total value of $839,957.25. Following the transaction, the director now directly owns 1,600 shares of the company’s stock, valued at approximately $475,728. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Enphase Energy news, Director Richard Mora sold 2,825 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $297.33, for a total value of $839,957.25. Following the completion of the transaction, the director now owns 1,600 shares of the company’s stock, valued at approximately $475,728. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Badrinarayanan Kothandaraman sold 77,700 shares of Enphase Energy stock in a transaction on Friday, June 10th. The shares were sold at an average price of $196.42, for a total transaction of $15,261,834.00. Following the completion of the transaction, the chief executive officer now owns 1,097,701 shares in the company, valued at $215,610,430.42. The disclosure for this sale can be found here. Insiders have sold 192,497 shares of company stock valued at $41,130,902 over the last ninety days. 4.80% of the stock is owned by insiders.

Analysts Set New Price Targets

ENPH has been the topic of a number of recent analyst reports. Barclays began coverage on Enphase Energy in a research report on Friday. They issued an “equal weight” rating and a $292.00 price objective on the stock. Guggenheim raised their price objective on shares of Enphase Energy to $293.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Oppenheimer raised their price target on shares of Enphase Energy to $315.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Cowen boosted their price objective on shares of Enphase Energy from $227.00 to $240.00 in a research report on Wednesday, April 27th. Finally, Credit Suisse Group upgraded shares of Enphase Energy from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $174.00 to $281.00 in a research note on Thursday, July 28th. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $262.52.

Enphase Energy Trading Up 1.7 %

ENPH stock traded up $5.09 during mid-day trading on Friday, reaching $300.91. The company’s stock had a trading volume of 3,669,754 shares, compared to its average volume of 4,163,837. The company has a market cap of $40.76 billion, a price-to-earnings ratio of 210.43, a price-to-earnings-growth ratio of 2.47 and a beta of 1.50. The company has a current ratio of 3.62, a quick ratio of 3.35 and a debt-to-equity ratio of 2.66. Enphase Energy, Inc. has a 12 month low of $113.40 and a 12 month high of $305.88. The business’s 50 day moving average price is $211.58 and its 200 day moving average price is $181.36.

Enphase Energy (NASDAQ:ENPHGet Rating) last issued its earnings results on Tuesday, July 26th. The semiconductor company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.15. Enphase Energy had a return on equity of 56.60% and a net margin of 11.71%. The company had revenue of $530.20 million during the quarter, compared to analysts’ expectations of $506.57 million. On average, equities research analysts predict that Enphase Energy, Inc. will post 2.81 EPS for the current year.

Enphase Energy Company Profile

(Get Rating)

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 services.

Further Reading

Institutional Ownership by Quarter for Enphase Energy (NASDAQ:ENPH)

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