Voloridge Investment Management LLC reduced its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 96.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,832 shares of the semiconductor company’s stock after selling 145,503 shares during the quarter. Voloridge Investment Management LLC’s holdings in SolarEdge Technologies were worth $1,861,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of SEDG. First Trust Advisors LP raised its position in shares of SolarEdge Technologies by 2.3% in the 1st quarter. First Trust Advisors LP now owns 70,405 shares of the semiconductor company’s stock worth $2,653,000 after buying an additional 1,581 shares during the period. Great West Life Assurance Co. Can increased its position in shares of SolarEdge Technologies by 2,920.4% during the third quarter. Great West Life Assurance Co. Can now owns 803,752 shares of the semiconductor company’s stock worth $2,568,000 after acquiring an additional 777,141 shares during the last quarter. Cetera Advisor Networks LLC increased its position in shares of SolarEdge Technologies by 146.6% during the third quarter. Cetera Advisor Networks LLC now owns 1,090 shares of the semiconductor company’s stock worth $260,000 after acquiring an additional 648 shares during the last quarter. Wealth Alliance purchased a new stake in shares of SolarEdge Technologies during the third quarter worth about $305,000. Finally, Truist Financial Corp grew its stake in SolarEdge Technologies by 19.0% in the third quarter. Truist Financial Corp now owns 5,592 shares of the semiconductor company’s stock worth $1,334,000 after purchasing an additional 892 shares in the last quarter. 77.52% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ SEDG opened at $262.45 on Thursday. SolarEdge Technologies, Inc. has a twelve month low of $85.69 and a twelve month high of $377.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.79 and a current ratio of 4.56. The stock has a market cap of $13.54 billion, a price-to-earnings ratio of 76.74, a PEG ratio of 3.40 and a beta of 0.98. The firm’s 50 day moving average price is $285.78 and its two-hundred day moving average price is $284.12.
In other news, VP Meir Adest sold 10,000 shares of the business’s stock in a transaction on Monday, March 1st. The shares were sold at an average price of $304.12, for a total transaction of $3,041,200.00. Following the transaction, the vice president now directly owns 307,336 shares in the company, valued at approximately $93,467,024.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Marcel Gani sold 1,000 shares of the business’s stock in a transaction on Monday, March 1st. The shares were sold at an average price of $304.53, for a total transaction of $304,530.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,222 shares of company stock worth $9,185,473. Corporate insiders own 2.90% of the company’s stock.
A number of research firms recently commented on SEDG. TheStreet downgraded SolarEdge Technologies from a “b” rating to a “c+” rating in a research note on Friday, February 19th. Oppenheimer restated a “hold” rating on shares of SolarEdge Technologies in a research note on Wednesday, February 17th. The Goldman Sachs Group lifted their target price on SolarEdge Technologies from $258.00 to $313.00 and gave the company a “neutral” rating in a research note on Monday, January 4th. Canaccord Genuity lifted their target price on SolarEdge Technologies from $200.00 to $350.00 and gave the company a “hold” rating in a research note on Thursday, February 25th. Finally, Truist initiated coverage on SolarEdge Technologies in a research report on Tuesday, January 12th. They set a “buy” rating and a $435.00 price objective for the company. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $294.16.
SolarEdge Technologies Profile
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.
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