Third Point Files Amended 13D on Enphase Energy Holdings ~ market folly

Monday, October 3, 2016

Third Point Files Amended 13D on Enphase Energy Holdings

Dan Loeb's hedge fund firm Third Point has filed an amended 13D with the SEC regarding its stake in Enphase Energy (ENPH).  Per the filing, Dan Loeb now has exposure to 11.2% of ENPH with over 6.7 million shares. 

Per the filing, 6.28 million shares are owned by Third Point funds (including 34,101 shares of common stock issuable upon exercise of warrants). and 423,684 shares are owned directly by Loeb. 

Third Point's last 13F filing detailing positions as of the end of the second quarter had them previously owning 6,248,987 shares.

Per Google Finance, Enphase Energy 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."

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