Canada Pension Plan Investment Board Has $789,000 Position in First Solar, Inc. (NASDAQ:FSLR)

Canada Pension Plan Investment Board lifted its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 213.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,476 shares of the solar cell manufacturer's stock after purchasing an additional 3,049 shares during the period. Canada Pension Plan Investment Board's holdings in First Solar were worth $789,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FSLR. Smartleaf Asset Management LLC lifted its holdings 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 buying an additional 63 shares in the last quarter. Crews Bank & Trust purchased a new stake in shares of First Solar during the fourth quarter worth about $53,000. Hudson Edge Investment Partners Inc. acquired a new position in shares of First Solar in the fourth quarter worth about $53,000. CoreFirst Bank & Trust purchased a new position in First Solar in the fourth quarter valued at about $54,000. Finally, Montag A & Associates Inc. grew its stake in First Solar by 18.8% during the 4th quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer's stock valued at $84,000 after purchasing an additional 75 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Georges Antoun sold 229 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $30,628.75. Following the completion of the sale, the insider now directly owns 52,836 shares in the company, valued at approximately $7,066,815. This trade represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the transaction, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,311 shares of company stock worth $4,767,158. 0.48% of the stock is currently owned by company insiders.

First Solar Trading Up 4.0 %

Shares of NASDAQ:FSLR traded up $5.42 during midday trading on Friday, reaching $141.86. The company had a trading volume of 2,698,287 shares, compared to its average volume of 2,783,160. The company has a fifty day simple moving average of $133.46 and a two-hundred day simple moving average of $168.44. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The firm has a market cap of $15.21 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last issued 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.48 billion. Research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FSLR. Royal Bank of Canada cut their target price on First Solar from $280.00 to $251.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Mizuho raised shares of First Solar from a "neutral" rating to an "outperform" rating and upped their price target for the company from $218.00 to $259.00 in a report on Tuesday, February 11th. BMO Capital Markets reissued an "outperform" rating and issued a $230.00 target price (down previously from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. Truist Financial reaffirmed a "buy" rating and set a $245.00 price target (down previously from $285.00) on shares of First Solar in a research report on Wednesday, April 2nd. Finally, Piper Sandler decreased their price target on First Solar from $230.00 to $205.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $249.96.

About First Solar

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.