Pictet Asset Management Holding SA Has $170,000 Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Pictet Asset Management Holding SA lowered its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 10.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,503 shares of the semiconductor company’s stock after selling 1,446 shares during the quarter. Pictet Asset Management Holding SA’s holdings in SolarEdge Technologies were worth $170,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Millstone Evans Group LLC bought a new stake in SolarEdge Technologies in the 4th quarter valued at about $27,000. Jones Financial Companies Lllp raised its position in shares of SolarEdge Technologies by 401.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 1,954 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in shares of SolarEdge Technologies by 251.8% in the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 2,770 shares during the period. R Squared Ltd acquired a new stake in SolarEdge Technologies during the fourth quarter worth approximately $61,000. Finally, GAMMA Investing LLC increased its stake in SolarEdge Technologies by 655.2% during the 4th quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 4,567 shares during the period. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on SEDG. Royal Bank of Canada upped their target price on SolarEdge Technologies from $14.00 to $15.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. Barclays boosted their price objective on shares of SolarEdge Technologies from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Tuesday, January 14th. BMO Capital Markets downgraded SolarEdge Technologies from a “market perform” rating to an “underperform” rating and raised their target price for the company from $13.00 to $15.00 in a report on Thursday, February 20th. UBS Group boosted their price target on SolarEdge Technologies from $18.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, Piper Sandler raised their price objective on SolarEdge Technologies from $9.00 to $10.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $21.80.

SolarEdge Technologies Trading Up 10.2 %

Shares of SEDG stock opened at $12.76 on Friday. The stock has a 50-day moving average of $15.80 and a 200-day moving average of $15.48. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The stock has a market cap of $750.07 million, a price-to-earnings ratio of -0.41 and a beta of 1.63. SolarEdge Technologies, Inc. has a 1-year low of $10.24 and a 1-year high of $71.50.

Insider Buying and Selling at SolarEdge Technologies

In other news, Chairman More Avery bought 30,000 shares of the company’s stock in a transaction that occurred on 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 completion of the acquisition, the chairman now directly owns 274,478 shares in the company, valued at approximately $3,760,348.60. This represents a 12.27 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.67% of the company’s stock.

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.