SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in SolarEdge Technologies, Inc. (NASDAQ:SEDGFree Report) by 65.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 25,773 shares of the semiconductor company’s stock after selling 48,364 shares during the quarter. Assenagon Asset Management S.A.’s holdings in SolarEdge Technologies were worth $2,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Captrust Financial Advisors lifted its stake in shares of SolarEdge Technologies by 3.5% in the 4th quarter. Captrust Financial Advisors now owns 1,162 shares of the semiconductor company’s stock valued at $329,000 after purchasing an additional 39 shares during the period. United Capital Financial Advisers LLC increased its holdings in SolarEdge Technologies by 2.0% in the 1st quarter. United Capital Financial Advisers LLC now owns 2,394 shares of the semiconductor company’s stock worth $772,000 after acquiring an additional 46 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in SolarEdge Technologies by 49.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 145 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 48 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in SolarEdge Technologies by 5.1% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 1,011 shares of the semiconductor company’s stock worth $286,000 after acquiring an additional 49 shares in the last quarter. Finally, Harbour Investments Inc. increased its holdings in SolarEdge Technologies by 102.0% in the 4th quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 50 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SEDG has been the subject of several recent analyst reports. The Goldman Sachs Group cut their price target on shares of SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating for the company in a report on Wednesday, January 24th. Citigroup cut their price target on shares of SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Truist Financial dropped their target price on shares of SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating for the company in a report on Thursday, February 22nd. Scotiabank dropped their target price on shares of SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating for the company in a report on Wednesday, February 21st. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $75.00 target price on shares of SolarEdge Technologies in a report on Wednesday, February 21st. Four research analysts have rated the stock with a sell rating, twenty have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $109.69.

Get Our Latest Analysis on SolarEdge Technologies

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery purchased 7,000 shares of SolarEdge Technologies stock in a transaction dated Thursday, February 29th. The shares were acquired at an average price of $67.75 per share, with a total value of $474,250.00. Following the completion of the transaction, the director now owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.17% of the company’s stock.

SolarEdge Technologies Trading Up 2.2 %

NASDAQ SEDG opened at $68.39 on Thursday. The firm’s 50-day moving average is $70.84 and its two-hundred day moving average is $85.14. SolarEdge Technologies, Inc. has a 12 month low of $60.44 and a 12 month high of $322.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. The stock has a market capitalization of $3.91 billion, a P/E ratio of 151.98 and a beta of 1.51.

SolarEdge Technologies (NASDAQ:SEDGGet Free Report) last posted its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The company had revenue of $316.04 million for the quarter, compared to analysts’ expectations of $319.97 million. On average, sell-side analysts anticipate that SolarEdge Technologies, Inc. will post -3.94 earnings per share for the current year.

About SolarEdge Technologies

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

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