National Bank of Canada FI Sells 34,211 Shares of First Solar, Inc. (NASDAQ:FSLR)

National Bank of Canada FI trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 30.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,464 shares of the solar cell manufacturer's stock after selling 34,211 shares during the quarter. National Bank of Canada FI owned 0.07% of First Solar worth $13,829,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new stake in shares of First Solar during the 4th quarter worth approximately $317,399,000. Wellington Management Group LLP increased its position in First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer's stock worth $523,166,000 after buying an additional 904,498 shares during the last quarter. Mirova US LLC raised its stake in shares of First Solar by 961.0% in the fourth quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer's stock valued at $113,906,000 after buying an additional 585,394 shares during the period. Amundi lifted its position in shares of First Solar by 31.0% during the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock valued at $336,871,000 after buying an additional 426,797 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in First Solar by 110.4% in the 4th quarter. Handelsbanken Fonder AB now owns 375,010 shares of the solar cell manufacturer's stock valued at $66,092,000 after acquiring an additional 196,744 shares during the period. Hedge funds and other institutional investors own 92.08% of the company's stock.

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First Solar Stock Down 7.9 %

Shares of NASDAQ:FSLR traded down $10.19 during trading on Thursday, hitting $119.44. The stock had a trading volume of 1,496,048 shares, compared to its average volume of 2,986,496. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $306.77. The company has a market capitalization of $12.79 billion, a PE ratio of 10.30, a PEG ratio of 0.19 and a beta of 1.48. The firm's fifty day moving average is $141.53 and its 200 day moving average is $177.84.

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

Insider Activity at First Solar

In other news, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the transaction, the insider now directly owns 3,549 shares of the company's stock, valued at $484,793.40. This represents a 67.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark R. Widmar sold 21,542 shares of the business'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 sale, the chief executive officer now owns 103,403 shares of the company's stock, 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 three months, insiders have sold 34,311 shares of company stock valued at $4,767,158. 0.58% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FSLR has been the subject of several analyst reports. Roth Mkm reaffirmed a "buy" rating and issued a $280.00 price objective on shares of First Solar in a report on Wednesday, February 26th. Mizuho raised First Solar from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $218.00 to $259.00 in a report on Tuesday, February 11th. Seaport Res Ptn upgraded shares of First Solar from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 15th. Bank of America decreased their price objective on shares of First Solar from $236.00 to $215.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft set a $265.00 price target on First Solar in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, First Solar has an average rating of "Moderate Buy" and a consensus target price of $257.42.

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.