Erste Asset Management GmbH cut its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 94.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,733 shares of the semiconductor company's stock after selling 181,472 shares during the period. Erste Asset Management GmbH's holdings in SolarEdge Technologies were worth $133,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of SolarEdge Technologies by 38.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,928 shares of the semiconductor company's stock worth $7,085,000 after purchasing an additional 144,733 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of SolarEdge Technologies by 401.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after buying an additional 1,954 shares in the last quarter. RWC Asset Management LLP bought a new stake in shares of SolarEdge Technologies in the fourth quarter valued at about $173,000. Meitav Investment House Ltd. grew its stake in shares of SolarEdge Technologies by 0.6% in the fourth quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company's stock valued at $7,957,000 after acquiring an additional 3,282 shares in the last quarter. Finally, Private Advisor Group LLC bought a new position in SolarEdge Technologies during the fourth quarter worth about $161,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on SEDG. The Goldman Sachs Group increased their target price on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Susquehanna increased their price target on SolarEdge Technologies from $13.00 to $17.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. UBS Group lifted their price objective on SolarEdge Technologies from $18.00 to $22.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Guggenheim upgraded SolarEdge Technologies from a "sell" rating to a "neutral" rating in a research report on Wednesday, November 20th. Finally, Jefferies Financial Group raised their price target on SolarEdge Technologies from $9.00 to $12.00 and gave the stock an "underperform" rating in a research report on Friday, February 21st. Ten investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $21.65.
Check Out Our Latest Stock Analysis on SEDG
SolarEdge Technologies Trading Up 0.6 %
Shares of NASDAQ:SEDG traded up $0.10 during mid-day trading on Wednesday, reaching $16.98. 1,176,440 shares of the company's stock were exchanged, compared to its average volume of 4,041,908. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. SolarEdge Technologies, Inc. has a twelve month low of $10.24 and a twelve month high of $73.60. The firm has a market capitalization of $998.14 million, a price-to-earnings ratio of -0.54 and a beta of 1.77. The business's fifty day moving average price is $15.29 and its 200-day moving average price is $16.17.
Insider Buying and Selling
In related news, Chairman More Avery purchased 30,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price 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 in the company, valued at approximately $3,760,348.60. This represents a 12.27 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.67% of the stock is owned by corporate insiders.
About SolarEdge Technologies
(
Free Report)
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.
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