Thrivent Financial for Lutherans Sells 711,060 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Thrivent Financial for Lutherans reduced its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 96.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,300 shares of the semiconductor company’s stock after selling 711,060 shares during the period. Thrivent Financial for Lutherans’ holdings in Enphase Energy were worth $1,669,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ENPH. Gould Capital LLC raised its position in shares of Enphase Energy by 2.1% in the 3rd quarter. Gould Capital LLC now owns 10,206 shares of the semiconductor company’s stock worth $1,153,000 after acquiring an additional 212 shares in the last quarter. Resources Management Corp CT ADV raised its holdings in Enphase Energy by 6.8% in the third quarter. Resources Management Corp CT ADV now owns 4,542 shares of the semiconductor company’s stock worth $513,000 after purchasing an additional 290 shares in the last quarter. Inspire Investing LLC lifted its position in Enphase Energy by 2.0% during the fourth quarter. Inspire Investing LLC now owns 15,988 shares of the semiconductor company’s stock valued at $1,098,000 after buying an additional 318 shares during the period. Ingalls & Snyder LLC boosted its holdings in shares of Enphase Energy by 4.2% during the 3rd quarter. Ingalls & Snyder LLC now owns 7,869 shares of the semiconductor company’s stock valued at $889,000 after buying an additional 320 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Enphase Energy in the 3rd quarter worth about $37,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Craig Hallum lowered their price target on shares of Enphase Energy from $123.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Barclays dropped their price target on Enphase Energy from $91.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Citigroup lowered Enphase Energy from a “neutral” rating to a “negative” rating in a research report on Wednesday. BMO Capital Markets dropped their target price 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, Morgan Stanley reduced their price target on Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $90.36.

Insider Buying and Selling

In other news, Director Thurman J. Rodgers sold 100,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 1,881,760 shares in the company, valued at $115,276,617.60. The trade was a 5.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction that occurred on Monday, March 10th. The shares were 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 $4,972,139.68. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $61.65 on Friday. Enphase Energy, Inc. has a 52-week low of $51.63 and a 52-week high of $141.63. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The firm has a market capitalization of $8.17 billion, a PE ratio of 83.31 and a beta of 2.12. The stock has a 50-day simple moving average of $62.24 and a two-hundred day simple moving average of $75.68.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. Analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current year.

About Enphase Energy

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.