Enphase Energy ($ENPH) CEO Badri Kothandaraman purchased $267,514 of company stock through a trust on November 2, following a sharp post-earnings decline. His average purchase price was approximately 60% below the average he paid in a May purchase.
- Kothandaraman bought 10,000 shares at a weighted average price of $26.7514, with transactions ranging from $26.39 to $27.05.
- The trust now holds 1,655,632 shares. He separately holds 104,987 shares directly.
- On May 26, he purchased 5,000 shares through the trust for approximately $337,482, averaging $67.50 each.
- Shares fell approximately 16% in early trading October 28 after third-quarter results and fourth-quarter guidance disappointed investors.
- Enphase reported October 27 that quarterly revenue fell to $293.3 million from $410.4 million a year earlier. Adjusted earnings declined to $0.41 per share from $0.90.
- The company forecast fourth-quarter revenue of $225 million to $255 million, below third-quarter sales.
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- Enphase Energy ($ENPH): CEO added shares following weaker quarterly results and a stock selloff.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
