Counterpoint Mutual Funds LLC Raises Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Counterpoint Mutual Funds LLC lifted its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 159.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,832 shares of the semiconductor company's stock after purchasing an additional 36,187 shares during the period. Counterpoint Mutual Funds LLC owned 0.10% of SolarEdge Technologies worth $800,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SEDG. Two Sigma Advisers LP lifted its position in shares of SolarEdge Technologies by 0.3% during the 3rd quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company's stock worth $26,166,000 after buying an additional 3,400 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in SolarEdge Technologies by 0.8% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,011,760 shares of the semiconductor company's stock worth $13,760,000 after acquiring an additional 8,079 shares during the period. Assenagon Asset Management S.A. lifted its holdings in SolarEdge Technologies by 182.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock worth $11,888,000 after acquiring an additional 564,490 shares during the period. Geode Capital Management LLC boosted its position in SolarEdge Technologies by 3.7% in the third quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company's stock worth $16,227,000 after purchasing an additional 25,474 shares during the last quarter. Finally, Meitav Investment House Ltd. grew its stake in SolarEdge Technologies by 0.6% in the 4th quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company's stock valued at $7,957,000 after purchasing an additional 3,282 shares during the period. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

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SolarEdge Technologies Price Performance

NASDAQ:SEDG traded down $0.09 during midday trading on Friday, hitting $17.03. The company had a trading volume of 2,659,188 shares, compared to its average volume of 4,046,859. The stock's fifty day moving average price is $15.38 and its 200-day moving average price is $16.18. SolarEdge Technologies, Inc. has a 52-week low of $10.24 and a 52-week high of $73.60. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $1.00 billion, a PE ratio of -0.55 and a beta of 1.77.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SEDG shares. Northland Capmk downgraded shares of SolarEdge Technologies from a "hold" rating to a "strong sell" rating in a report on Thursday, February 20th. Barclays lifted their price target on shares of SolarEdge Technologies from $7.00 to $10.00 and gave the stock an "underweight" rating in a report on Tuesday, January 14th. Roth Mkm raised their target price on SolarEdge Technologies from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday, February 21st. Morgan Stanley upgraded SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $11.00 to $18.00 in a research note on Thursday, February 20th. Finally, Northland Securities downgraded SolarEdge Technologies from a "market perform" rating to an "under perform" rating and set a $15.00 price target for the company. in a research note on Thursday, February 20th. Ten equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, SolarEdge Technologies presently has a consensus rating of "Hold" and a consensus price target of $21.65.

Insider Buying and Selling

In other SolarEdge Technologies news, Chairman More Avery purchased 30,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $13.70 per share, with a total value of $411,000.00. Following the completion of the purchase, the chairman now owns 274,478 shares of the company's stock, valued at $3,760,348.60. The trade was a 12.27 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.67% of the stock is currently owned by corporate insiders.

SolarEdge Technologies Company Profile

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.