Erste Asset Management GmbH Sells 181,472 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Erste Asset Management GmbH reduced its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 94.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,733 shares of the semiconductor company’s stock after selling 181,472 shares during the quarter. Erste Asset Management GmbH’s holdings in SolarEdge Technologies were worth $133,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. AMG National Trust Bank bought a new stake in SolarEdge Technologies during the 3rd quarter valued at about $4,055,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of SolarEdge Technologies by 683.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock worth $5,786,000 after acquiring an additional 220,304 shares during the period. Mizuho Markets Americas LLC grew its stake in shares of SolarEdge Technologies by 653.4% in the third quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock worth $4,315,000 after acquiring an additional 163,340 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of SolarEdge Technologies in the fourth quarter worth approximately $227,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of SolarEdge Technologies by 182.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock worth $11,888,000 after acquiring an additional 564,490 shares during the period. 95.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other SolarEdge Technologies news, Chairman More Avery purchased 30,000 shares of SolarEdge Technologies stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the transaction, the chairman now owns 274,478 shares of the company’s stock, valued at approximately $3,760,348.60. This trade represents a 12.27 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.67% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on SEDG shares. Citigroup reiterated a “sell” rating and issued a $9.00 price target (down from $12.00) on shares of SolarEdge Technologies in a research note on Wednesday, January 8th. Wells Fargo & Company dropped their price objective on shares of SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price objective on shares of SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Truist Financial dropped their price objective on shares of SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, January 16th. Finally, Northland Securities downgraded shares of SolarEdge Technologies from a “market perform” rating to an “under perform” rating and set a $15.00 price objective on the stock. in a report on Thursday, February 20th. Ten analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.65.

SolarEdge Technologies Trading Up 7.0 %

Shares of SEDG opened at $16.12 on Friday. The company’s fifty day moving average is $15.29 and its 200 day moving average is $16.34. SolarEdge Technologies, Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $73.60. The stock has a market capitalization of $947.58 million, a PE ratio of -0.52 and a beta of 1.78. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95.

SolarEdge Technologies Company 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.