DekaBank Deutsche Girozentrale Sells 294,703 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

DekaBank Deutsche Girozentrale reduced its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 99.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,200 shares of the semiconductor company’s stock after selling 294,703 shares during the period. DekaBank Deutsche Girozentrale’s holdings in SolarEdge Technologies were worth $114,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. New York State Teachers Retirement System lifted its stake in SolarEdge Technologies by 20.9% during the fourth quarter. New York State Teachers Retirement System now owns 66,836 shares of the semiconductor company’s stock worth $6,256,000 after purchasing an additional 11,555 shares during the last quarter. Fulton Bank N.A. lifted its stake in SolarEdge Technologies by 24.2% during the fourth quarter. Fulton Bank N.A. now owns 4,056 shares of the semiconductor company’s stock worth $380,000 after purchasing an additional 791 shares during the last quarter. International Assets Investment Management LLC lifted its stake in SolarEdge Technologies by 20,293.3% during the fourth quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company’s stock worth $9,716,000 after purchasing an additional 103,293 shares during the last quarter. Arizona State Retirement System lifted its stake in SolarEdge Technologies by 2.9% during the fourth quarter. Arizona State Retirement System now owns 15,811 shares of the semiconductor company’s stock worth $1,480,000 after purchasing an additional 440 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in SolarEdge Technologies by 33.0% during the fourth quarter. Fifth Third Bancorp now owns 4,105 shares of the semiconductor company’s stock worth $384,000 after purchasing an additional 1,019 shares during the last quarter. 95.10% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director More Avery bought 7,000 shares of SolarEdge Technologies stock in a transaction dated Thursday, February 29th. The stock was bought at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the purchase, the director now directly owns 77,446 shares in the company, valued at approximately $5,246,966.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on SEDG. Wells Fargo & Company cut their target price on SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating for the company in a research note on Thursday, February 22nd. Canaccord Genuity Group reiterated a “hold” rating and issued a $75.00 price target on shares of SolarEdge Technologies in a research note on Wednesday, February 21st. Janney Montgomery Scott cut SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, March 22nd. Truist Financial dropped their price target on SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, February 22nd. Finally, The Goldman Sachs Group dropped their price target on SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating for the company in a research note on Wednesday, January 24th. Four equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, SolarEdge Technologies has an average rating of “Hold” and a consensus target price of $98.81.

SolarEdge Technologies Stock Performance

Shares of SolarEdge Technologies stock opened at $59.74 on Thursday. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $70.20 and a two-hundred day moving average price of $80.44. The company has a market cap of $3.41 billion, a P/E ratio of 132.76 and a beta of 1.51. SolarEdge Technologies, Inc. has a 1-year low of $57.72 and a 1-year high of $322.19.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, beating the consensus estimate of ($2.01) by $0.60. The company had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. As a group, analysts anticipate that SolarEdge Technologies, Inc. will post -4.04 EPS for the current year.

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.