SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 20.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,468 shares of the semiconductor company's stock after selling 21,080 shares during the period. Rhumbline Advisers owned about 0.14% of SolarEdge Technologies worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SEDG. KBC Group NV raised its stake in shares of SolarEdge Technologies by 95.8% during the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company's stock worth $65,000 after buying an additional 1,378 shares during the period. Y.D. More Investments Ltd raised its stake in shares of SolarEdge Technologies by 251.8% during the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company's stock worth $53,000 after buying an additional 2,770 shares during the period. Two Sigma Advisers LP raised its stake in shares of SolarEdge Technologies by 0.3% during the 3rd quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company's stock worth $26,166,000 after buying an additional 3,400 shares during the period. R Squared Ltd acquired a new position in shares of SolarEdge Technologies during the 4th quarter worth approximately $61,000. Finally, GAMMA Investing LLC raised its stake in shares of SolarEdge Technologies by 655.2% during the 4th quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company's stock worth $72,000 after buying an additional 4,567 shares during the period. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

SEDG has been the subject of several research analyst reports. Jefferies Financial Group upped their target price on SolarEdge Technologies from $9.00 to $12.00 and gave the stock an "underperform" rating in a research note on Friday, February 21st. Guggenheim raised SolarEdge Technologies from a "sell" rating to a "neutral" rating in a report on Wednesday, November 20th. Barclays increased their target price on SolarEdge Technologies from $7.00 to $10.00 and gave the company an "underweight" rating in a report on Tuesday, January 14th. Morgan Stanley raised SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $11.00 to $18.00 in a report on Thursday, February 20th. Finally, Northland Capmk cut SolarEdge Technologies from a "hold" rating to a "strong sell" rating in a report on Thursday, February 20th. Ten analysts have rated the stock with a sell rating, sixteen have issued 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 has an average rating of "Hold" and a consensus price target of $21.65.

SolarEdge Technologies Trading Up 5.2 %

Shares of SEDG traded up $0.83 during trading on Friday, reaching $16.85. 4,147,404 shares of the company traded hands, compared to its average volume of 4,056,505. SolarEdge Technologies, Inc. has a twelve month low of $10.24 and a twelve month high of $77.52. The stock has a market cap of $990.49 million, a PE ratio of -0.54 and a beta of 1.78. The stock has a 50-day simple moving average of $15.11 and a 200-day simple moving average of $16.71. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.

Insider Buying and Selling at SolarEdge Technologies

In other news, Chairman More Avery bought 30,000 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $13.70 per share, with a total value of $411,000.00. Following the transaction, the chairman now directly owns 274,478 shares in the company, valued at $3,760,348.60. The trade was a 12.27 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.67% of the stock is currently owned by corporate insiders.

About SolarEdge Technologies

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.