Quantbot Technologies LP cut its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 52.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,124 shares of the semiconductor company's stock after selling 43,979 shares during the period. Quantbot Technologies LP owned about 0.07% of SolarEdge Technologies worth $532,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new position in shares of SolarEdge Technologies during the fourth quarter worth approximately $27,000. Counterpoint Mutual Funds LLC raised its holdings in shares of SolarEdge Technologies by 159.8% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 58,832 shares of the semiconductor company's stock valued at $800,000 after acquiring an additional 36,187 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in SolarEdge Technologies by 38.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,928 shares of the semiconductor company's stock worth $7,085,000 after acquiring an additional 144,733 shares during the period. Jones Financial Companies Lllp grew its holdings in SolarEdge Technologies by 401.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 1,954 shares in the last quarter. Finally, RWC Asset Management LLP purchased a new position in SolarEdge Technologies during the 4th quarter valued at about $173,000. Institutional investors own 95.10% of the company's stock.
Analysts Set New Price Targets
SEDG has been the subject of several research reports. Piper Sandler increased their price objective on shares of SolarEdge Technologies from $9.00 to $10.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. Canaccord Genuity Group increased their target price on SolarEdge Technologies from $18.00 to $19.00 and gave the company a "hold" rating in a research report on Thursday, February 20th. Jefferies Financial Group boosted their price target on SolarEdge Technologies from $9.00 to $12.00 and gave the stock an "underperform" rating in a research report on Friday, February 21st. Barclays lifted their target price on SolarEdge Technologies from $7.00 to $10.00 and gave the company an "underweight" rating in a research note on Tuesday, January 14th. Finally, Roth Mkm increased their price target on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies presently has an average rating of "Hold" and an average price target of $21.80.
Check Out Our Latest Report on SEDG
Insider Activity at SolarEdge Technologies
In related news, Chairman More Avery purchased 30,000 shares of SolarEdge Technologies stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the transaction, the chairman now directly owns 274,478 shares in the company, valued at approximately $3,760,348.60. This trade represents a 12.27 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.67% of the stock is owned by company insiders.
SolarEdge Technologies Stock Performance
Shares of SEDG stock traded down $0.36 on Monday, hitting $15.49. The company had a trading volume of 1,256,321 shares, compared to its average volume of 4,081,223. The firm has a market cap of $910.55 million, a P/E ratio of -0.50 and a beta of 1.78. SolarEdge Technologies, Inc. has a twelve month low of $10.24 and a twelve month high of $73.60. The company has a 50-day moving average price of $15.64 and a 200-day moving average price of $15.96. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.
About SolarEdge Technologies
(
Free Report)
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.
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