Solaredge Technologies Inc (NASDAQ:SEDG) Director Sells $524,760.00 in Stock

Solaredge Technologies Inc (NASDAQ:SEDG) Director More Avery sold 4,000 shares of Solaredge Technologies stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $131.19, for a total value of $524,760.00. Following the transaction, the director now directly owns 231,360 shares of the company’s stock, valued at approximately $30,352,118.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

More Avery also recently made the following trade(s):

  • On Sunday, February 23rd, More Avery sold 500 shares of Solaredge Technologies stock. The shares were sold at an average price of $137.92, for a total value of $68,960.00.

Shares of SEDG opened at $90.45 on Friday. The company has a market cap of $4.43 billion, a PE ratio of 31.30, a price-to-earnings-growth ratio of 0.69 and a beta of -0.23. The company has a current ratio of 2.14, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $109.62 and a 200-day moving average price of $94.51. Solaredge Technologies Inc has a 12-month low of $36.28 and a 12-month high of $143.73.

Solaredge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.54. The firm had revenue of $418.22 million during the quarter, compared to the consensus estimate of $413.80 million. Solaredge Technologies had a return on equity of 20.03% and a net margin of 10.28%. The company’s revenue for the quarter was up 58.6% on a year-over-year basis. During the same quarter last year, the company posted $0.63 EPS. As a group, analysts predict that Solaredge Technologies Inc will post 4.96 earnings per share for the current year.

A number of research analysts have weighed in on the company. UBS Group lifted their target price on Solaredge Technologies from $130.00 to $151.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. JMP Securities lifted their target price on Solaredge Technologies from $117.00 to $157.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. BidaskClub lowered Solaredge Technologies from a “hold” rating to a “sell” rating in a report on Tuesday. Credit Suisse Group lifted their target price on Solaredge Technologies from $85.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, February 21st. Finally, Barclays assumed coverage on Solaredge Technologies in a report on Wednesday. They set an “equal weight” rating and a $99.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $125.57.

Several institutional investors and hedge funds have recently modified their holdings of SEDG. FMR LLC boosted its position in shares of Solaredge Technologies by 5,730.3% during the 4th quarter. FMR LLC now owns 2,000,549 shares of the semiconductor company’s stock valued at $190,232,000 after acquiring an additional 1,966,236 shares during the last quarter. Phoenix Holdings Ltd. bought a new stake in Solaredge Technologies in the 3rd quarter worth approximately $52,201,000. Norges Bank bought a new stake in Solaredge Technologies in the 4th quarter worth approximately $49,001,000. Senvest Management LLC lifted its position in Solaredge Technologies by 69.1% in the 4th quarter. Senvest Management LLC now owns 832,480 shares of the semiconductor company’s stock worth $79,161,000 after buying an additional 340,132 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Solaredge Technologies by 356.8% in the 4th quarter. Bank of America Corp DE now owns 324,850 shares of the semiconductor company’s stock worth $30,890,000 after buying an additional 253,732 shares during the last quarter. Hedge funds and other institutional investors own 78.91% of the company’s stock.

About Solaredge Technologies

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.

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