SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC reduced its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 26.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,219 shares of the semiconductor company’s stock after selling 2,234 shares during the period. New York Life Investment Management LLC’s holdings in SolarEdge Technologies were worth $582,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of SolarEdge Technologies by 3.8% during the third quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock worth $327,566,000 after purchasing an additional 92,230 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in SolarEdge Technologies by 89.3% in the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock worth $229,298,000 after acquiring an additional 835,290 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its position in SolarEdge Technologies by 108.5% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock valued at $193,626,000 after acquiring an additional 778,034 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of SolarEdge Technologies by 10.0% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 984,901 shares of the semiconductor company’s stock valued at $92,210,000 after purchasing an additional 89,279 shares during the period. Finally, Impax Asset Management Group plc lifted its position in shares of SolarEdge Technologies by 1.6% during the fourth quarter. Impax Asset Management Group plc now owns 954,264 shares of the semiconductor company’s stock worth $88,890,000 after purchasing an additional 14,878 shares in the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Insider Buying and Selling at SolarEdge Technologies

In related news, Director More Avery acquired 7,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was acquired at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the acquisition, the director now directly owns 77,446 shares of the company’s stock, valued at approximately $5,246,966.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SEDG has been the subject of a number of recent analyst reports. Northland Securities lowered shares of SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday. Wells Fargo & Company cut their price target on SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 22nd. The Goldman Sachs Group reduced their price target on SolarEdge Technologies from $64.00 to $49.00 and set a “sell” rating for the company in a report on Thursday. Susquehanna dropped their price objective on SolarEdge Technologies from $97.00 to $92.00 and set a “positive” rating on the stock in a report on Friday, April 5th. Finally, B. Riley reduced their target price on SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Four research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, SolarEdge Technologies has an average rating of “Hold” and a consensus target price of $93.73.

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $52.67 on Friday. SolarEdge Technologies, Inc. has a 12-month low of $51.65 and a 12-month high of $315.34. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 117.04 and a beta of 1.53. The business has a 50 day simple moving average of $64.30 and a 200 day simple moving average of $73.85.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The company had revenue of $316.04 million during the quarter, compared to analysts’ expectations of $319.97 million. On average, equities research analysts anticipate that SolarEdge Technologies, Inc. will post -4.68 EPS for the current year.

About SolarEdge Technologies

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.