Zevenbergen Capital Investments LLC Has $3.78 Million Stake in First Solar, Inc. (NASDAQ:FSLR)

Zevenbergen Capital Investments LLC lessened its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 93.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,430 shares of the solar cell manufacturer's stock after selling 293,597 shares during the period. Zevenbergen Capital Investments LLC's holdings in First Solar were worth $3,777,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Clear Harbor Asset Management LLC grew its holdings in shares of First Solar by 0.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer's stock worth $1,623,000 after acquiring an additional 55 shares during the last quarter. Doliver Advisors LP boosted its position in shares of First Solar by 1.2% in the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer's stock valued at $831,000 after purchasing an additional 56 shares during the period. Smartleaf Asset Management LLC increased its stake in First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock worth $47,000 after purchasing an additional 63 shares in the last quarter. Independent Advisor Alliance raised its holdings in First Solar by 3.1% during the 4th quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer's stock worth $368,000 after buying an additional 63 shares during the period. Finally, Mutual Advisors LLC lifted its stake in First Solar by 5.3% during the fourth quarter. Mutual Advisors LLC now owns 1,463 shares of the solar cell manufacturer's stock valued at $279,000 after buying an additional 73 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

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First Solar Stock Performance

NASDAQ FSLR traded up $2.64 during midday trading on Tuesday, hitting $131.46. The company had a trading volume of 3,759,150 shares, compared to its average volume of 2,579,041. The firm has a fifty day simple moving average of $155.16 and a two-hundred day simple moving average of $187.25. First Solar, Inc. has a fifty-two week low of $124.96 and a fifty-two week high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock has a market cap of $14.07 billion, a price-to-earnings ratio of 11.32, a P/E/G ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. Equities analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Markus Gloeckler sold 380 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $50,825.00. Following the completion of the transaction, the chief technology officer now owns 17,594 shares in the company, valued at $2,353,197.50. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the sale, the chief executive officer now owns 103,403 shares in the company, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on FSLR. Bank of America reduced their price target on shares of First Solar from $246.00 to $236.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Robert W. Baird reduced their price objective on First Solar from $307.00 to $267.00 and set an "outperform" rating for the company in a research note on Wednesday, December 18th. Morgan Stanley decreased their price objective on First Solar from $297.00 to $238.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Wells Fargo & Company reduced their price target on shares of First Solar from $240.00 to $209.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Finally, Piper Sandler lowered their price objective on shares of First Solar from $250.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $262.08.

First Solar Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.