DekaBank Deutsche Girozentrale Sells 294,703 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

DekaBank Deutsche Girozentrale cut its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 99.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,200 shares of the semiconductor company’s stock after selling 294,703 shares during the period. DekaBank Deutsche Girozentrale’s holdings in SolarEdge Technologies were worth $114,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SEDG. Baillie Gifford & Co. grew its position in SolarEdge Technologies by 89.3% in the third quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock worth $229,298,000 after acquiring an additional 835,290 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its position in SolarEdge Technologies by 108.5% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock worth $193,626,000 after acquiring an additional 778,034 shares in the last quarter. Norges Bank purchased a new position in SolarEdge Technologies in the fourth quarter worth $115,423,000. Price T Rowe Associates Inc. MD grew its position in SolarEdge Technologies by 432.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 395,823 shares of the semiconductor company’s stock worth $120,311,000 after acquiring an additional 321,509 shares in the last quarter. Finally, Impax Asset Management Group plc grew its position in SolarEdge Technologies by 46.3% in the third quarter. Impax Asset Management Group plc now owns 939,386 shares of the semiconductor company’s stock worth $121,067,000 after acquiring an additional 297,089 shares in the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery bought 7,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was acquired at an average price of $67.75 per share, with a total value of $474,250.00. Following the completion of the purchase, the director now owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SEDG. Citigroup cut their target price on shares of SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Canaccord Genuity Group assumed coverage on shares of SolarEdge Technologies in a research report on Tuesday, January 16th. They set a “hold” rating and a $80.00 price target for the company. Wells Fargo & Company cut their price target on shares of SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating for the company in a research report on Thursday, February 22nd. DZ Bank assumed coverage on shares of SolarEdge Technologies in a research report on Wednesday. They set a “hold” rating and a $62.00 price target for the company. Finally, Susquehanna cut their price target on shares of SolarEdge Technologies from $97.00 to $92.00 and set a “positive” rating for the company in a research report on Friday, April 5th. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $98.81.

SolarEdge Technologies Price Performance

SEDG stock opened at $59.74 on Thursday. SolarEdge Technologies, Inc. has a 1 year low of $57.72 and a 1 year high of $322.19. The company has a market cap of $3.41 billion, a P/E ratio of 132.76 and a beta of 1.51. The firm has a 50-day moving average of $70.20 and a 200 day moving average of $80.44. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share 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 business had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. On average, sell-side analysts forecast that SolarEdge Technologies, Inc. will post -4.04 EPS for the current year.

SolarEdge Technologies Profile

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.