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DekaBank Deutsche Girozentrale lessened its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) by 8.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 242,921 shares of the semiconductor company’s stock after selling 23,627 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.44% of SolarEdge Technologies worth $58,272,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its holdings in SolarEdge Technologies by 79.2% in the second quarter. Steward Partners Investment Advisory LLC now owns 95 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 42 shares in the last quarter. AllSquare Wealth Management LLC purchased a new position in SolarEdge Technologies in the second quarter valued at approximately $27,000. Wipfli Financial Advisors LLC purchased a new position in SolarEdge Technologies in the third quarter valued at approximately $31,000. Clear Street Markets LLC grew its position in shares of SolarEdge Technologies by 431.8% during the second quarter. Clear Street Markets LLC now owns 117 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 95 shares during the last quarter. Finally, Focused Wealth Management Inc purchased a new position in shares of SolarEdge Technologies during the third quarter worth approximately $46,000. Institutional investors and hedge funds own 80.01% of the company’s stock.
Insider Buying and Selling
In other SolarEdge Technologies news, VP Meir Adest sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $300.29, for a total transaction of $750,725.00. Following the transaction, the vice president now owns 154,748 shares of the company’s stock, valued at $46,469,276.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders have sold 7,500 shares of company stock worth $2,102,625. Corporate insiders own 1.17% of the company’s stock.
SolarEdge Technologies Stock Performance
SEDG stock opened at $315.02 on Tuesday. The business’s 50-day moving average price is $299.44 and its two-hundred day moving average price is $281.27. The company has a current ratio of 3.53, a quick ratio of 2.72 and a debt-to-equity ratio of 0.33. The firm has a market cap of $17.61 billion, a PE ratio of 155.18, a P/E/G ratio of 1.31 and a beta of 1.28. SolarEdge Technologies, Inc. has a 1-year low of $190.15 and a 1-year high of $375.90.
SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last issued its quarterly earnings results on Monday, November 7th. The semiconductor company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.86). The firm had revenue of $836.72 million during the quarter, compared to the consensus estimate of $825.69 million. SolarEdge Technologies had a net margin of 4.11% and a return on equity of 5.75%. As a group, research analysts forecast that SolarEdge Technologies, Inc. will post 2.96 earnings per share for the current year.
Wall Street Analyst Weigh In
SEDG has been the topic of a number of research reports. Needham & Company LLC lowered their target price on shares of SolarEdge Technologies from $380.00 to $370.00 and set a “buy” rating on the stock in a research report on Tuesday, November 8th. Oppenheimer lowered their price objective on shares of SolarEdge Technologies from $400.00 to $379.00 in a research report on Tuesday, November 8th. Bank of America upgraded shares of SolarEdge Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $269.00 to $367.00 in a research report on Wednesday, December 7th. Northland Securities upgraded shares of SolarEdge Technologies from an “underperform” rating to a “market perform” rating in a research report on Tuesday, November 8th. Finally, BMO Capital Markets lifted their price objective on shares of SolarEdge Technologies from $316.00 to $355.00 in a research report on Friday, November 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $347.40.
SolarEdge Technologies Company Profile
(Get Rating)
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The company 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.
Read More
- Get a free copy of the StockNews.com research report on SolarEdge Technologies (SEDG)
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Want to see what other hedge funds are holding SEDG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating).
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