SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC decreased its position in SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Rating) by 25.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,533 shares of the semiconductor company’s stock after selling 2,887 shares during the quarter. ARK Investment Management LLC’s holdings in SolarEdge Technologies were worth $2,328,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SEDG. MAI Capital Management acquired a new stake in SolarEdge Technologies in the fourth quarter valued at approximately $302,000. Charles Schwab Investment Management Inc. raised its holdings in SolarEdge Technologies by 37.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 384,766 shares of the semiconductor company’s stock valued at $107,954,000 after acquiring an additional 105,383 shares in the last quarter. Cibc World Markets Corp acquired a new stake in SolarEdge Technologies during the fourth quarter worth approximately $526,000. Gabelli Funds LLC raised its holdings in SolarEdge Technologies by 40.8% during the fourth quarter. Gabelli Funds LLC now owns 8,800 shares of the semiconductor company’s stock worth $2,469,000 after purchasing an additional 2,550 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in SolarEdge Technologies by 63.8% during the fourth quarter. Geode Capital Management LLC now owns 811,454 shares of the semiconductor company’s stock worth $226,980,000 after purchasing an additional 316,001 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

SolarEdge Technologies Trading Down 0.9 %

NASDAQ:SEDG opened at $310.51 on Monday. The company has a market capitalization of $17.20 billion, a PE ratio of 121.29, a price-to-earnings-growth ratio of 2.64 and a beta of 1.24. The company has a quick ratio of 2.96, a current ratio of 3.73 and a debt-to-equity ratio of 0.33. SolarEdge Technologies, Inc. has a 52-week low of $200.86 and a 52-week high of $389.71. The stock has a fifty day simple moving average of $301.22 and a 200-day simple moving average of $290.48.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last announced its earnings results on Tuesday, August 2nd. The semiconductor company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.53). SolarEdge Technologies had a net margin of 5.78% and a return on equity of 8.56%. The firm had revenue of $727.77 million during the quarter, compared to analyst estimates of $725.75 million. On average, equities research analysts expect that SolarEdge Technologies, Inc. will post 4.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of SolarEdge Technologies from $373.00 to $419.00 and gave the stock an “overweight” rating in a report on Monday, August 8th. Guggenheim raised their price objective on shares of SolarEdge Technologies from $348.00 to $389.00 in a report on Wednesday, August 3rd. Oppenheimer raised their price objective on shares of SolarEdge Technologies from $334.00 to $400.00 in a 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. Finally, StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a research report on Saturday, July 2nd. Two 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.com, SolarEdge Technologies has an average rating of “Moderate Buy” and an average price target of $359.68.

Insider Activity at SolarEdge Technologies

In related news, VP Meir Adest sold 1,352 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $300.68, for a total value of $406,519.36. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In other SolarEdge Technologies news, VP Meir Adest sold 1,352 shares of SolarEdge Technologies stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $300.68, for a total value of $406,519.36. Following the completion of the sale, the vice president now owns 182,309 shares in the company, valued at approximately $54,816,670.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Rachel Prishkolnik sold 3,219 shares of SolarEdge Technologies stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $306.46, for a total value of $986,494.74. Following the completion of the sale, the vice president now owns 10,684 shares of the company’s stock, valued at approximately $3,274,218.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,771 shares of company stock valued at $5,773,667. 1.17% of the stock is owned by insiders.

SolarEdge Technologies Company 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.

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

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