Connor Clark & Lunn Investment Management Ltd. Sells 178,528 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 70.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,025 shares of the semiconductor company’s stock after selling 178,528 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.13% of SolarEdge Technologies worth $1,007,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Two Sigma Advisers LP raised its stake in SolarEdge Technologies by 0.3% in the third quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company’s stock worth $26,166,000 after buying an additional 3,400 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in SolarEdge Technologies by 0.8% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,011,760 shares of the semiconductor company’s stock worth $13,760,000 after buying an additional 8,079 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of SolarEdge Technologies by 182.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock valued at $11,888,000 after purchasing an additional 564,490 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of SolarEdge Technologies by 3.7% during the third quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company’s stock valued at $16,227,000 after purchasing an additional 25,474 shares in the last quarter. Finally, Meitav Investment House Ltd. increased its stake in shares of SolarEdge Technologies by 0.6% during the fourth quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company’s stock valued at $7,957,000 after purchasing an additional 3,282 shares in the last quarter. 95.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

SEDG has been the subject of a number of analyst reports. Royal Bank of Canada raised their target price on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. UBS Group raised their target price on shares of SolarEdge Technologies from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Glj Research raised shares of SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Citigroup reaffirmed a “sell” rating and set a $9.00 target price (down previously from $12.00) on shares of SolarEdge Technologies in a research note on Wednesday, January 8th. Finally, Northland Securities downgraded shares of SolarEdge Technologies from a “market perform” rating to an “under perform” rating and set a $15.00 price target for the company. in a research report on Thursday, February 20th. Ten investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, SolarEdge Technologies currently has a consensus rating of “Hold” and an average target price of $21.65.

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery purchased 30,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the purchase, the chairman now directly owns 274,478 shares of the company’s stock, valued at $3,760,348.60. The trade was a 12.27 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.67% of the company’s stock.

SolarEdge Technologies Trading Up 0.8 %

Shares of SolarEdge Technologies stock opened at $17.12 on Friday. The company’s fifty day simple moving average is $15.38 and its 200-day simple moving average is $16.18. The stock has a market capitalization of $1.01 billion, a PE ratio of -0.55 and a beta of 1.77. SolarEdge Technologies, Inc. has a 1-year low of $10.24 and a 1-year high of $73.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46.

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.