Largest Insider Buys: Top 5 Stocks

3. Enphase Energy Inc (NASDAQ:ENPH)

Number of Hedge Fund Investors: 43

Mandy Yang, Enphase Energy Inc’s (NASDAQ:ENPH) CFO, on May 2 piled into 4,000 shares of Enphase Energy Inc (NASDAQ:ENPH) at $104.24 per share. Since then the stock is up 7.7%.

Aristotle Atlantic Large Cap Growth Strategy stated the following regarding Enphase Energy, Inc. (NASDAQ:ENPH) in its fourth quarter 2023 investor letter:

“We sold our position in Enphase Energy, Inc. (NASDAQ:ENPH) due to slowing demand for residential solar energy, primarily driven by rising interest rates and potentially increasing competition. During the second quarter earnings report in July, the company lowered its guidance for the third quarter microinverter, and we believed there was a heightened risk that Enphase would lower guidance again. We remain optimistic about Enphase’s competitive advantages over the long term in the residential solar energy market, but we prefer to wait for more apparent evidence of a rebound before considering a reinvestment in the company.”