Northwestern Mutual buys $1.4M Enphase stake as analysts stay split
What's the deal? Northwestern Mutual Wealth Management Co.Dealroom has a profile for this one. Try Dealroom → acquired a new stake in Enphase Energy during the second quarter, according to a filing with the Securities and Exchange Commission. The institutional investor bought 29,057 shares of the solar technology company, valued at roughly $1,431,000.
Who else is in? Institutional investors own 72.12% of Enphase. Vanguard GroupDealroom has a profile for this one. Try Dealroom → is the largest holder, with more than 16.3 million shares worth $523,365,000, while Norges BankDealroom has a profile for this one. Try Dealroom → opened a fresh position worth about $118,190,000 in the fourth quarter.
What's the read? Analysts remain divided. Nine rate the stock Buy, eleven Hold, and three Sell, giving a consensus Hold rating and an average target price of $45.79.
Why now? Recent target prices have swung sharply. JefferiesDealroom has a profile for this one. Try Dealroom → lifted its objective from $41.00 to $64.00 with a Buy rating in June; Royal Bank of CanadaDealroom has a profile for this one. Try Dealroom → cut its target from $54.00 to $47.00 in July; and Morgan StanleyDealroom has a profile for this one. Try Dealroom → set a $27.00 target in May.
Insiders have leaned toward selling. Director Richard Mora sold 2,000 shares on July 30 at $36.76 each, a total of $73,520. Director Shanker Trivedi went the other way, buying 1,000 shares on June 12 at $53.91.
What could go wrong? Enphase opened at $37.35, below both the consensus target and the price insiders were selling at. Insiders offloaded 4,200 shares worth $179,000 over the past three months and hold 2.90% of the stock.
The signal: Fresh institutional money keeps flowing into Enphase even as price targets diverge widely and insiders trim their holdings — a sign that opinion on the solar sector's near-term direction is far from settled.
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