Insider Selling: SolarEdge Technologies, Inc. (NASDAQ:SEDG) VP Sells 10,000 Shares of Stock

SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Rating) VP Meir Adest sold 10,000 shares of the stock in a transaction on Monday, April 18th. The shares were sold at an average price of $301.59, for a total value of $3,015,900.00. Following the completion of the transaction, the vice president now directly owns 199,867 shares in the company, valued at approximately $60,277,888.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Meir Adest also recently made the following trade(s):

  • On Monday, March 21st, Meir Adest sold 10,000 shares of SolarEdge Technologies stock. The stock was sold at an average price of $310.63, for a total value of $3,106,300.00.

SEDG stock traded down $23.16 during trading on Wednesday, reaching $281.66. The company had a trading volume of 50,319 shares, compared to its average volume of 1,049,583. The business has a 50 day moving average of $302.09 and a 200 day moving average of $296.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.26 and a quick ratio of 2.53. The company has a market cap of $14.88 billion, a P/E ratio of 93.36, a PEG ratio of 2.47 and a beta of 0.96. SolarEdge Technologies, Inc. has a 52 week low of $199.33 and a 52 week high of $389.71.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last announced its earnings results on Tuesday, February 15th. The semiconductor company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.28). SolarEdge Technologies had a return on equity of 13.59% and a net margin of 8.61%. The firm had revenue of $551.92 million during the quarter, compared to the consensus estimate of $548.66 million. During the same period in the prior year, the company posted $0.33 EPS. Research analysts expect that SolarEdge Technologies, Inc. will post 4.94 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in SEDG. William Blair Investment Management LLC purchased a new stake in shares of SolarEdge Technologies in the 3rd quarter worth about $177,212,000. Norges Bank bought a new stake in SolarEdge Technologies during the fourth quarter worth about $112,243,000. Clal Insurance Enterprises Holdings Ltd grew its holdings in SolarEdge Technologies by 116.1% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 632,223 shares of the semiconductor company’s stock worth $167,678,000 after purchasing an additional 339,650 shares during the period. Geode Capital Management LLC increased its stake in shares of SolarEdge Technologies by 63.8% during the fourth quarter. Geode Capital Management LLC now owns 811,454 shares of the semiconductor company’s stock valued at $226,980,000 after purchasing an additional 316,001 shares in the last quarter. Finally, Pictet Asset Management SA increased its stake in shares of SolarEdge Technologies by 30.1% during the fourth quarter. Pictet Asset Management SA now owns 1,284,822 shares of the semiconductor company’s stock valued at $360,483,000 after purchasing an additional 297,272 shares in the last quarter. 71.29% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently weighed in on SEDG. Susquehanna raised their price objective on SolarEdge Technologies from $365.00 to $370.00 and gave the company a “positive” rating in a report on Wednesday, February 16th. Morgan Stanley lifted their price target on shares of SolarEdge Technologies from $307.00 to $333.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 22nd. Piper Sandler upped their price objective on shares of SolarEdge Technologies from $388.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, March 14th. UBS Group lifted their target price on shares of SolarEdge Technologies from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 16th. Finally, Wells Fargo & Company upped their price target on shares of SolarEdge Technologies from $361.00 to $399.00 in a research report on Friday, April 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $353.81.

SolarEdge Technologies Company Profile (Get Rating)

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.

Further Reading

Insider Buying and Selling by Quarter for SolarEdge Technologies (NASDAQ:SEDG)

Receive News & Ratings for SolarEdge Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SolarEdge Technologies and related companies with MarketBeat.com's FREE daily email newsletter.