Baillie Gifford & Co. Sells 1,611,901 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Baillie Gifford & Co. reduced its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 93.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 106,977 shares of the semiconductor company's stock after selling 1,611,901 shares during the quarter. Baillie Gifford & Co. owned approximately 0.18% of SolarEdge Technologies worth $1,455,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Y.D. More Investments Ltd lifted its holdings in SolarEdge Technologies by 251.8% in the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company's stock valued at $53,000 after buying an additional 2,770 shares during the period. R Squared Ltd acquired a new position in shares of SolarEdge Technologies in the 4th quarter valued at about $61,000. KBC Group NV lifted its stake in shares of SolarEdge Technologies by 95.8% in the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company's stock valued at $65,000 after purchasing an additional 1,378 shares during the period. GAMMA Investing LLC boosted its position in shares of SolarEdge Technologies by 655.2% during the 4th quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company's stock valued at $72,000 after purchasing an additional 4,567 shares in the last quarter. Finally, US Bancorp DE grew its stake in SolarEdge Technologies by 243.6% during the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company's stock worth $156,000 after purchasing an additional 4,834 shares during the period. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SEDG has been the topic of a number of research analyst reports. UBS Group increased their price target on SolarEdge Technologies from $18.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday. Glj Research raised shares of SolarEdge Technologies from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. Northland Capmk downgraded shares of SolarEdge Technologies from a "hold" rating to a "strong sell" rating in a research note on Thursday. Royal Bank of Canada increased their price objective on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the stock a "sector perform" rating in a research report on Thursday. Finally, Truist Financial decreased their target price on SolarEdge Technologies from $15.00 to $14.00 and set a "hold" rating for the company in a research report on Thursday, January 16th. Ten analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $21.65.

SolarEdge Technologies Stock Performance

NASDAQ:SEDG traded down $0.57 during trading on Friday, reaching $17.62. The company's stock had a trading volume of 5,092,808 shares, compared to its average volume of 4,927,211. SolarEdge Technologies, Inc. has a 12 month low of $10.24 and a 12 month high of $78.40. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -0.56 and a beta of 1.56. The firm has a 50 day moving average of $14.50 and a 200-day moving average of $17.29. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95.

About SolarEdge Technologies

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.