Engineers Gate Manager LP Boosts Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Engineers Gate Manager LP increased its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Rating) by 462.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,901 shares of the semiconductor company’s stock after purchasing an additional 8,142 shares during the period. Engineers Gate Manager LP’s holdings in SolarEdge Technologies were worth $3,192,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SEDG. Chilton Capital Management LLC acquired a new position in SolarEdge Technologies during the fourth quarter worth about $28,000. Confluence Wealth Services Inc. acquired a new position in SolarEdge Technologies during the fourth quarter worth about $33,000. First Horizon Advisors Inc. grew its position in SolarEdge Technologies by 274.1% during the first quarter. First Horizon Advisors Inc. now owns 101 shares of the semiconductor company’s stock worth $33,000 after buying an additional 74 shares during the period. Global Wealth Management Investment Advisory Inc. grew its position in SolarEdge Technologies by 1,140.0% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 124 shares of the semiconductor company’s stock worth $35,000 after buying an additional 114 shares during the period. Finally, UMB Bank N A MO acquired a new position in SolarEdge Technologies during the fourth quarter worth about $36,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on SEDG shares. Guggenheim upped their target price on shares of SolarEdge Technologies from $348.00 to $389.00 in a research report on Wednesday, August 3rd. TheStreet upgraded shares of SolarEdge Technologies from a “c” rating to a “b-” rating in a research report on Tuesday, August 2nd. Morgan Stanley increased their price target on shares of SolarEdge Technologies from $316.00 to $352.00 and gave the company an “equal weight” rating in a research report on Thursday, August 18th. JPMorgan Chase & Co. increased their price target on shares of SolarEdge Technologies from $373.00 to $419.00 and gave the company an “overweight” rating in a research report on Monday, August 8th. Finally, Barclays assumed coverage on shares of SolarEdge Technologies in a research report on Friday, August 5th. They issued an “equal weight” rating and a $389.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $359.68.

Insider Activity

In other news, VP Meir Adest sold 1,352 shares of the firm’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $300.68, for a total value of $406,519.36. Following the transaction, the vice president now owns 182,309 shares of the company’s stock, valued at approximately $54,816,670.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Meir Adest sold 1,352 shares of the firm’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $300.68, for a total value of $406,519.36. Following the transaction, the vice president now owns 182,309 shares of the company’s stock, valued at approximately $54,816,670.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Rachel Prishkolnik sold 3,219 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $306.46, for a total transaction of $986,494.74. Following the sale, the vice president now directly owns 10,684 shares of the company’s stock, valued at $3,274,218.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,771 shares of company stock valued at $5,773,667. Company insiders own 1.17% of the company’s stock.

SolarEdge Technologies Stock Performance

NASDAQ:SEDG opened at $313.00 on Monday. The company has a quick ratio of 2.96, a current ratio of 3.73 and a debt-to-equity ratio of 0.33. The company has a market cap of $17.34 billion, a P/E ratio of 122.27, a P/E/G ratio of 2.66 and a beta of 1.24. SolarEdge Technologies, Inc. has a fifty-two week low of $200.86 and a fifty-two week high of $389.71. The firm’s 50 day moving average is $297.69 and its two-hundred day moving average is $290.22.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last issued its earnings results on Tuesday, August 2nd. The semiconductor company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.53). SolarEdge Technologies had a net margin of 5.78% and a return on equity of 8.56%. The business had revenue of $727.77 million during the quarter, compared to analysts’ expectations of $725.75 million. Analysts expect that SolarEdge Technologies, Inc. will post 4.05 EPS for the current year.

SolarEdge Technologies Profile

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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.

See Also

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Institutional Ownership by Quarter for SolarEdge Technologies (NASDAQ:SEDG)

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