SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 93.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,258 shares of the semiconductor company's stock after selling 201,110 shares during the quarter. Handelsbanken Fonder AB's holdings in SolarEdge Technologies were worth $180,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in shares of SolarEdge Technologies by 2,191.0% in the 3rd quarter. International Assets Investment Management LLC now owns 25,407 shares of the semiconductor company's stock valued at $582,000 after acquiring an additional 24,298 shares during the last quarter. US Bancorp DE lifted its position in SolarEdge Technologies by 243.6% in the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company's stock valued at $156,000 after acquiring an additional 4,834 shares during the last quarter. Van ECK Associates Corp boosted its stake in SolarEdge Technologies by 12.1% in the third quarter. Van ECK Associates Corp now owns 78,635 shares of the semiconductor company's stock valued at $1,802,000 after acquiring an additional 8,490 shares in the last quarter. Harvest Portfolios Group Inc. purchased a new position in shares of SolarEdge Technologies during the third quarter worth about $353,000. Finally, M&G PLC boosted its position in shares of SolarEdge Technologies by 4.2% in the 3rd quarter. M&G PLC now owns 932,711 shares of the semiconductor company's stock valued at $21,452,000 after purchasing an additional 38,001 shares during the period. Institutional investors and hedge funds own 95.10% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SEDG shares. JPMorgan Chase & Co. cut their target price on shares of SolarEdge Technologies from $21.00 to $19.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. Susquehanna upped their target price on shares of SolarEdge Technologies from $13.00 to $17.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. BMO Capital Markets cut SolarEdge Technologies from a "market perform" rating to an "underperform" rating and boosted their price target for the company from $13.00 to $15.00 in a research report on Thursday, February 20th. Jefferies Financial Group increased their price objective on SolarEdge Technologies from $9.00 to $12.00 and gave the stock an "underperform" rating in a research report on Friday, February 21st. Finally, Truist Financial dropped their target price on SolarEdge Technologies from $15.00 to $14.00 and set a "hold" rating on the stock in a report on Thursday, January 16th. Ten research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $21.65.

SolarEdge Technologies Trading Up 6.5 %

SEDG stock traded up $1.03 during midday trading on Friday, hitting $17.05. The stock had a trading volume of 2,863,959 shares, compared to its average volume of 4,034,082. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. SolarEdge Technologies, Inc. has a 12-month low of $10.24 and a 12-month high of $78.41. The firm has a market cap of $1.00 billion, a PE ratio of -0.55 and a beta of 1.56. The company's 50-day moving average price is $15.02 and its 200 day moving average price is $16.86.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery purchased 30,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the transaction, the chairman now owns 274,478 shares of the company's stock, valued at approximately $3,760,348.60. The trade was a 12.27 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.67% of the company's stock.

SolarEdge Technologies 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.