Xponance Inc. boosted its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) by 18.6% in the third quarter, HoldingsChannel.com reports. The fund owned 4,670 shares of the semiconductor company’s stock after buying an additional 734 shares during the quarter. Xponance Inc.’s holdings in SolarEdge Technologies were worth $1,081,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of SEDG. Vanguard Group Inc. increased its stake in shares of SolarEdge Technologies by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 2,083,190 shares of the semiconductor company’s stock worth $671,558,000 after purchasing an additional 37,181 shares in the last quarter. Pictet Asset Management SA increased its stake in shares of SolarEdge Technologies by 7.0% during the 2nd quarter. Pictet Asset Management SA now owns 1,743,403 shares of the semiconductor company’s stock worth $477,135,000 after purchasing an additional 113,705 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of SolarEdge Technologies by 2.6% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 781,471 shares of the semiconductor company’s stock worth $213,873,000 after purchasing an additional 19,999 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of SolarEdge Technologies by 31.3% during the 2nd quarter. Clearbridge Investments LLC now owns 625,494 shares of the semiconductor company’s stock worth $171,185,000 after purchasing an additional 149,116 shares in the last quarter. Finally, Amundi increased its stake in shares of SolarEdge Technologies by 15.7% during the 2nd quarter. Amundi now owns 507,750 shares of the semiconductor company’s stock worth $136,958,000 after purchasing an additional 68,858 shares in the last quarter. Hedge funds and other institutional investors own 80.01% of the company’s stock.
SolarEdge Technologies Stock Up 1.8 %
Shares of SEDG opened at $281.81 on Friday. The firm has a market cap of $15.75 billion, a PE ratio of 138.82, a price-to-earnings-growth ratio of 1.22 and a beta of 1.28. The company’s fifty day moving average is $289.78 and its two-hundred day moving average is $280.45. SolarEdge Technologies, Inc. has a fifty-two week low of $190.15 and a fifty-two week high of $375.90. The company has a quick ratio of 2.72, a current ratio of 3.53 and a debt-to-equity ratio of 0.33.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on SEDG. Cowen raised their price objective on shares of SolarEdge Technologies from $309.00 to $360.00 in a research note on Monday, December 5th. TheStreet cut shares of SolarEdge Technologies from a “b-” rating to a “c+” rating in a research note on Wednesday, September 28th. Morgan Stanley dropped their price objective on shares of SolarEdge Technologies from $352.00 to $344.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 2nd. BMO Capital Markets raised their price objective on shares of SolarEdge Technologies from $316.00 to $355.00 in a research note on Friday, November 18th. Finally, Daiwa Capital Markets assumed coverage on shares of SolarEdge Technologies in a research note on Friday, December 23rd. They issued a “neutral” rating and a $325.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $346.85.
Insider Buying and Selling at SolarEdge Technologies
In related news, VP Meir Adest sold 2,500 shares of SolarEdge Technologies stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $250.30, for a total transaction of $625,750.00. Following the transaction, the vice president now owns 159,748 shares in the company, valued at approximately $39,984,924.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible via this hyperlink. Insiders have sold a total of 7,500 shares of company stock worth $2,102,625 in the last quarter. 1.17% of the stock is owned by insiders.
About SolarEdge Technologies
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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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