SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd cut its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 11.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 434,030 shares of the semiconductor company's stock after selling 54,800 shares during the period. UniSuper Management Pty Ltd owned 0.75% of SolarEdge Technologies worth $5,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of SEDG. Millstone Evans Group LLC purchased a new stake in SolarEdge Technologies during the 4th quarter valued at $27,000. Jones Financial Companies Lllp raised its holdings in shares of SolarEdge Technologies by 401.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after buying an additional 1,954 shares during the period. Y.D. More Investments Ltd lifted 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 acquiring an additional 2,770 shares during the last quarter. R Squared Ltd purchased a new position in SolarEdge Technologies during the 4th quarter valued at $61,000. Finally, GAMMA Investing LLC grew its position in SolarEdge Technologies by 655.2% in the 4th quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company's stock valued at $72,000 after acquiring an additional 4,567 shares during the last quarter. 95.10% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SEDG. Piper Sandler lifted their price objective on shares of SolarEdge Technologies from $9.00 to $10.00 and gave the company an "underweight" rating in a report on Thursday, February 20th. Susquehanna boosted their price target on SolarEdge Technologies from $13.00 to $17.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Glj Research upgraded SolarEdge Technologies from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, December 17th. Morgan Stanley upgraded SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $11.00 to $18.00 in a report on Thursday, February 20th. Finally, Wells Fargo & Company cut their price target on SolarEdge Technologies from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Ten 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 assigned a strong buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies has a consensus rating of "Hold" and an average target price of $21.80.

SolarEdge Technologies Price Performance

SEDG stock traded up $0.49 during midday trading on Tuesday, reaching $16.67. The stock had a trading volume of 1,063,845 shares, compared to its average volume of 4,079,377. SolarEdge Technologies, Inc. has a 52-week low of $10.24 and a 52-week high of $73.60. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The company's fifty day simple moving average is $15.69 and its 200 day simple moving average is $15.94. The company has a market cap of $979.91 million, a price-to-earnings ratio of -0.54 and a beta of 1.78.

Insider Activity

In other SolarEdge Technologies news, Chairman More Avery bought 30,000 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $13.70 per share, with a total value of $411,000.00. Following the completion of the purchase, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.67% of the company's stock.

SolarEdge Technologies Company 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.