13GD Coverage: Dan Loeb’s Third Point Llc Just Opened Huge Enphase Energy, Inc Position

13GD Coverage: Dan Loeb's Third Point Llc Just Opened Huge Enphase Energy, Inc Position

The New Dan Loeb’s Third Point Llc Holding in Enphase Energy, Inc

Third Point Llc filed with the SEC SC 13D/A form for Enphase Energy, Inc. The form can be accessed here: 000089914016001623. As reported in Dan Loeb’s Third Point Llc’s form, the filler as of late owns 11.2% or 6,706,772 shares of the Information Technology–company.

Enphase Energy, Inc stake is a new one for the for the hedge fund and it was filed because of activity on September 28, 2016. We feel this shows Dan Loeb’s Third Point Llc’s positive view for the stock. For a hedge fund managing $17.97 billion in assets and having 60+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.

The hedge fund is active investor in the Finance sector. In the manager’s last 13-F, we saw 25% of Dan Loeb’s Third Point Llc’s US equities portfolio is in this sector.

Enphase Energy, Inc Institutional Sentiment

Latest Security and Exchange filings show 82 investors own Enphase Energy, Inc. The institutional ownership in Q3 2015 is high, at 62.89% of the outstanding shares. This is increased by 1929352 the total institutional shares. 29394334 were the shares owned by these institutional investors. In total 7 funds opened new Enphase Energy, Inc stakes, 33 increased stakes. There were 29 that closed positions and 27 reduced them.

Robecosam Usa Inc is an institutional investor bullish on Enphase Energy, Inc, owning 116000 shares as of Q3 2015 for 0.62% of its portfolio. Dan Loeb Third Point Llc owns 6248987 shares or 0.22% of its portfolio. MA Reynders Mcveigh Capital Management Llc have 0.01% of their stock portfolio for 22500 shares. Further, Alpinvest Partners Bv reported stake worth 0.20% of its US stock portfolio. The MO Argent Capital Management Llc owns 213535 shares. Enphase Energy, Inc is 0.04% of the manager’s US portfolio.

Business Profile

Enphase Energy, Inc. is a provider of energy management solutions. The Company is engaged in designing, developing, manufacturing and selling microinverter systems for the solar photovoltaic industry. Its semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity. Its microinverter system consists of three components: Enphase microinverters, an Envoy gateway and Enlighten cloud-based software. Its Enphase microinverters provide power conversion at the individual solar module level by a digital architecture that incorporates custom application specific integrated circuits (ASIC), specialized power electronics devices, and an embedded software subsystem. Envoy bi-directional communications gateway provides collecting and sending data to Enlighten software. Enlighten cloud-based software provides the capabilities to remotely monitor, manage, and maintain an individual system or a fleet of systems.

SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.

Dan Loeb’s Third Point Llc website.

Insitutional Activity: The institutional sentiment decreased to 0.51 in 2016 Q2. Its down 0.24, from 0.75 in 2016Q1. The ratio dropped, as 17 funds sold all Enphase Energy Inc shares owned while 24 reduced positions. 8 funds bought stakes while 13 increased positions. They now own 13.22 million shares or 21.10% less from 16.75 million shares in 2016Q1.

Moreover, Savings Bank Of Montreal Can has 0% invested in Enphase Energy Inc (NASDAQ:ENPH) for 1,000 shares. Millennium Mngmt Ltd Limited Liability Company reported 165,405 shares or 0% of all its holdings. Credit Suisse Ag accumulated 0% or 85,173 shares. Susquehanna Intll Grp Limited Liability Partnership last reported 0% of its portfolio in the stock. The California-based California Public Employees Retirement Systems has invested 0% in Enphase Energy Inc (NASDAQ:ENPH). Walleye Trading Lc has 264 shares for 0% of their US portfolio. Wade G W & Incorporated last reported 25,000 shares in the company. Manufacturers Life Ins Company The accumulated 0% or 1,489 shares. The New York-based Morgan Stanley has invested 0% in Enphase Energy Inc (NASDAQ:ENPH). Robecosam Usa Inc has 115,000 shares for 0.29% of their US portfolio. D E Shaw & Co Inc holds 19,122 shares or 0% of its portfolio. Retail Bank Of New York Mellon Corporation holds 29,351 shares or 0% of its portfolio. The New York-based New York State Common Retirement Fund has invested 0% in Enphase Energy Inc (NASDAQ:ENPH). Aqr Cap Management Llc last reported 0% of its portfolio in the stock. Natl Bank Of America Corp De reported 37,510 shares or 0% of all its holdings.

Insider Transactions: Since August 16, 2016, the stock had 1 insider purchase, and 2 sales for $701,294 net activity. 1,618 shares with value of $2,886 were sold by Garcia Humberto on Tuesday, August 16. Kortlang Benjamin John bought $720,000 worth of stock or 600,000 shares. Shares for $15,820 were sold by NAHI PAUL B on Tuesday, August 16.

Analysts await Enphase Energy Inc (NASDAQ:ENPH) to report earnings on November, 1. They expect $-0.29 EPS, down 3,000.00% or $0.30 from last year’s $0.01 per share. After $-0.36 actual EPS reported by Enphase Energy Inc for the previous quarter, Wall Street now forecasts -19.44% EPS growth.

About 134,921 shares traded hands. Enphase Energy Inc (NASDAQ:ENPH) has declined 49.36% since February 29, 2016 and is downtrending. It has underperformed by 61.57% the S&P500.

Enphase Energy, Inc. is a provider of energy management solutions. The company has a market cap of $54.70 million. The Firm is engaged in designing, developing, manufacturing and selling microinverter systems for the solar photovoltaic industry. It currently has negative earnings. The Company’s semiconductor microinverter system converts direct current electricity to alternating current (AC) electricity.

Enphase Energy Inc (NASDAQ:ENPH) Ratings Coverage

Out of 10 analysts covering Enphase Energy Inc (NASDAQ:ENPH), 2 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 20% are positive. $30 is the highest target while $1.30 is the lowest. The $4.89 average target is 310.92% above today’s ($1.19) stock price. Enphase Energy Inc has been the topic of 20 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock of Enphase Energy Inc (NASDAQ:ENPH) earned “Hold” rating by Needham on Wednesday, November 4. The firm has “Buy” rating given on Wednesday, December 16 by TH Capital. The rating was maintained by TH Capital with “Buy” on Monday, November 2. On Monday, November 2 the stock rating was maintained by JP Morgan with “Neutral”. The company was initiated on Thursday, September 3 by Cowen & Co. The firm earned “Strong Buy” rating on Tuesday, September 15 by Needham. Oppenheimer initiated the stock with “Outperform” rating in Wednesday, September 9 report. The rating was maintained by Needham with “Strong Buy” on Wednesday, August 5. Canaccord Genuity downgraded Enphase Energy Inc (NASDAQ:ENPH) on Wednesday, November 4 to “Hold” rating. Deutsche Bank downgraded it to “Sell” rating and $30 target price in Tuesday, October 20 report.

More notable recent Enphase Energy Inc (NASDAQ:ENPH) news were published by: Seekingalpha.com which released: “Is Enphase Energy A Buy?” on September 26, 2016, also Finance.Yahoo.com with their article: “Enphase Energy (ENPH) Announces Cost Saving Initiatives” published on September 26, 2016, Seekingalpha.com published: “Enphase Energy: Circling The Drain” on July 13, 2016. More interesting news about Enphase Energy Inc (NASDAQ:ENPH) were released by: Streetinsider.com and their article: “Enphase Energy (ENPH) Updates on Restructuring, Cost Savings Efforts; Guides …” published on September 22, 2016 as well as Seekingalpha.com‘s news article titled: “Is Enphase The Apple Of The Solar Storage Market?” with publication date: September 20, 2016.

According to Zacks Investment Research, “Enphase Energy, Inc. delivers microinverter technology for the solar industry, which increases productivity and reliability of solar modules. The Company builds a semiconductor-based microinverter system that converts direct current electricity to alternating current electricity at the individual solar module level. Enphase sells its microinverter systems primarily to distributors who resell them to solar installers. It also sells directly to installers, as well as through original equipment manufacturers. Enphase Energy, Inc. is headquartered in Petaluma, California.”

ENPH Company Profile

Enphase Energy, Inc., incorporated on March 20, 2006, is a well-known provider of energy management solutions. The Firm is engaged in designing, developing, manufacturing and selling microinverter systems for the solar photovoltaic (PV) industry. The Company’s semiconductor microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level. The Firm offers microinverter systems to the residential and commercial markets in the United States, Canada, the United Kingdom, France, the Benelux region, certain other European markets, Australia and New Zealand.

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