Toroso Investments LLC grew its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) by 41.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,257 shares of the semiconductor company’s stock after purchasing an additional 5,949 shares during the quarter. Toroso Investments LLC’s holdings in SolarEdge Technologies were worth $6,531,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in SolarEdge Technologies by 63.8% in the fourth quarter. Geode Capital Management LLC now owns 811,454 shares of the semiconductor company’s stock worth $226,980,000 after acquiring an additional 316,001 shares during the period. Robeco Schweiz AG purchased a new stake in SolarEdge Technologies in the first quarter worth about $94,454,000. 1832 Asset Management L.P. purchased a new stake in SolarEdge Technologies in the first quarter worth about $86,575,000. Clearbridge Investments LLC lifted its stake in SolarEdge Technologies by 120.4% in the first quarter. Clearbridge Investments LLC now owns 476,378 shares of the semiconductor company’s stock worth $153,570,000 after acquiring an additional 260,203 shares during the period. Finally, William Blair Investment Management LLC lifted its stake in SolarEdge Technologies by 33.7% in the fourth quarter. William Blair Investment Management LLC now owns 893,189 shares of the semiconductor company’s stock worth $250,602,000 after acquiring an additional 225,021 shares during the period. 81.86% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other SolarEdge Technologies news, VP Meir Adest sold 7,722 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $312.83, for a total value of $2,415,673.26. Following the sale, the vice president now owns 168,335 shares in the company, valued at approximately $52,660,238.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other SolarEdge Technologies news, VP Meir Adest sold 7,722 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $312.83, for a total value of $2,415,673.26. Following the sale, the vice president now owns 168,335 shares in the company, valued at approximately $52,660,238.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Rachel Prishkolnik sold 1,900 shares of the company’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $301.58, for a total value of $573,002.00. Following the completion of the sale, the vice president now owns 12,581 shares in the company, valued at approximately $3,794,177.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,771 shares of company stock worth $5,773,667. Corporate insiders own 1.17% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on SEDG. Morgan Stanley upped their price objective on shares of SolarEdge Technologies from $316.00 to $352.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 18th. Needham & Company LLC lowered their price objective on shares of SolarEdge Technologies from $390.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. StockNews.com raised shares of SolarEdge Technologies to a “sell” rating in a research report on Saturday, July 2nd. Oppenheimer increased their price target on shares of SolarEdge Technologies from $334.00 to $400.00 in a research report on Wednesday, August 3rd. Finally, TheStreet raised shares of SolarEdge Technologies from a “c” rating to a “b-” rating in a research report on Tuesday, August 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, SolarEdge Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $359.68.
SolarEdge Technologies Price Performance
Shares of NASDAQ:SEDG opened at $322.70 on Thursday. SolarEdge Technologies, Inc. has a twelve month low of $200.86 and a twelve month high of $389.71. The company’s 50 day moving average is $300.39 and its 200 day moving average is $290.87. The company has a current ratio of 3.73, a quick ratio of 2.96 and a debt-to-equity ratio of 0.33. The company has a market cap of $17.87 billion, a PE ratio of 126.06, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24.
SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last issued its quarterly 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 return on equity of 8.56% and a net margin of 5.78%. The business had revenue of $727.77 million during the quarter, compared to analyst estimates of $725.75 million. On average, sell-side analysts forecast that SolarEdge Technologies, Inc. will post 4.05 EPS for the current year.
SolarEdge Technologies Company Profile
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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