939 Shares in SolarEdge Technologies, Inc. (NASDAQ:SEDG) Bought by ERn Financial LLC

ERn Financial LLC acquired a new position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Rating) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 939 shares of the semiconductor company’s stock, valued at approximately $303,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Keybank National Association OH raised its holdings in shares of SolarEdge Technologies by 35.9% during the first quarter. Keybank National Association OH now owns 1,540 shares of the semiconductor company’s stock worth $496,000 after acquiring an additional 407 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in shares of SolarEdge Technologies during the fourth quarter worth $28,000. Baker Tilly Wealth Management LLC purchased a new stake in shares of SolarEdge Technologies during the first quarter worth $247,000. State of Michigan Retirement System raised its holdings in SolarEdge Technologies by 0.3% during the first quarter. State of Michigan Retirement System now owns 13,236 shares of the semiconductor company’s stock valued at $4,267,000 after buying an additional 36 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in SolarEdge Technologies by 120.4% during the first quarter. Mercer Global Advisors Inc. ADV now owns 3,787 shares of the semiconductor company’s stock valued at $1,221,000 after buying an additional 2,069 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

SolarEdge Technologies Stock Up 0.9 %

SEDG stock opened at $314.16 on Friday. SolarEdge Technologies, Inc. has a twelve month low of $200.86 and a twelve month high of $389.71. The company has a market cap of $17.40 billion, a PE ratio of 122.72, a price-to-earnings-growth ratio of 2.55 and a beta of 1.24. The business’s 50-day simple moving average is $296.96 and its 200 day simple moving average is $289.24. The company has a quick ratio of 2.96, a current ratio of 3.73 and a debt-to-equity ratio of 0.33.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last released its earnings results on Tuesday, August 2nd. The semiconductor company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.53). SolarEdge Technologies had a return on equity of 8.56% and a net margin of 5.78%. The firm had revenue of $727.77 million for the quarter, compared to analyst estimates of $725.75 million. On average, research analysts anticipate that SolarEdge Technologies, Inc. will post 4.21 earnings per share for the current year.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, VP Meir Adest sold 7,722 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $312.83, for a total transaction of $2,415,673.26. Following the sale, the vice president now directly owns 168,335 shares of the company’s stock, valued at $52,660,238.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Meir Adest sold 7,722 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $312.83, for a total value of $2,415,673.26. Following the completion of the transaction, the vice president now owns 168,335 shares in the company, valued at approximately $52,660,238.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Rachel Prishkolnik sold 1,900 shares of SolarEdge Technologies stock in a transaction on Monday, June 27th. The stock was sold at an average price of $301.58, for a total transaction of $573,002.00. Following the sale, the vice president now directly owns 12,581 shares of the company’s stock, valued at approximately $3,794,177.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,274 shares of company stock valued at $5,406,879. 1.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SEDG shares. StockNews.com upgraded SolarEdge Technologies to a “sell” rating in a report on Saturday, July 2nd. Guggenheim raised their target price on SolarEdge Technologies from $348.00 to $389.00 in a report on Wednesday, August 3rd. Needham & Company LLC cut their target price on SolarEdge Technologies from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. TheStreet upgraded SolarEdge Technologies from a “c” rating to a “b-” rating in a report on Tuesday, August 2nd. Finally, Oppenheimer raised their target price on SolarEdge Technologies from $334.00 to $400.00 in a report on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $359.68.

SolarEdge Technologies Profile

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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.

See Also

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

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