Vanguard Group Inc. reduced its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,901,772 shares of the semiconductor company's stock after selling 286,372 shares during the quarter. Vanguard Group Inc. owned about 5.01% of SolarEdge Technologies worth $39,464,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the stock. Janney Montgomery Scott LLC bought a new position in SolarEdge Technologies during the fourth quarter valued at about $227,000. Assenagon Asset Management S.A. grew its stake in shares of SolarEdge Technologies by 182.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock worth $11,888,000 after purchasing an additional 564,490 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of SolarEdge Technologies by 38.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 520,928 shares of the semiconductor company's stock worth $7,085,000 after purchasing an additional 144,733 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in SolarEdge Technologies during the fourth quarter worth approximately $260,000. Finally, SG Americas Securities LLC increased its holdings in shares of SolarEdge Technologies by 592.3% in the fourth quarter. SG Americas Securities LLC now owns 137,736 shares of the semiconductor company's stock valued at $1,873,000 after buying an additional 117,841 shares in the last quarter. Institutional investors and hedge funds own 95.10% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on SEDG shares. BMO Capital Markets lowered shares of 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 report on Thursday, February 20th. JPMorgan Chase & Co. lowered their price target on SolarEdge Technologies from $21.00 to $19.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. UBS Group increased their price objective on SolarEdge Technologies from $18.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Barclays lifted their target price on SolarEdge Technologies from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Wednesday. Finally, Canaccord Genuity Group increased their price target on shares of SolarEdge Technologies from $18.00 to $19.00 and gave the stock a "hold" rating in a research report on Thursday, February 20th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, SolarEdge Technologies presently has an average rating of "Hold" and a consensus target price of $21.53.
Read Our Latest Stock Report on SEDG
SolarEdge Technologies Price Performance
Shares of SolarEdge Technologies stock traded down $0.41 during trading on Wednesday, hitting $12.28. 1,146,369 shares of the company's stock traded hands, compared to its average volume of 4,183,078. The company has a market cap of $721.86 million, a PE ratio of -0.39 and a beta of 1.63. The firm's fifty day moving average price is $15.75 and its 200 day moving average price is $15.35. SolarEdge Technologies, Inc. has a twelve month low of $10.24 and a twelve month high of $64.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46.
Insider Transactions at SolarEdge Technologies
In related news, Chairman More Avery acquired 30,000 shares of the business'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 completion of the acquisition, the chairman now 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 SEC, which is available through this hyperlink. 0.67% of the stock is currently owned by insiders.
SolarEdge Technologies Profile
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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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