Exchange Traded Concepts LLC Trims Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Exchange Traded Concepts LLC cut its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Rating) by 83.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 288 shares of the semiconductor company’s stock after selling 1,442 shares during the quarter. Exchange Traded Concepts LLC’s holdings in SolarEdge Technologies were worth $93,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Chilton Capital Management LLC purchased a new position in SolarEdge Technologies during the fourth quarter worth about $28,000. Sageworth Trust Co of South Dakota purchased a new position in SolarEdge Technologies during the fourth quarter worth about $33,000. Confluence Wealth Services Inc. purchased a new position in SolarEdge Technologies during the fourth quarter worth about $33,000. Horan Securities Inc. purchased a new position in SolarEdge Technologies during the fourth quarter worth about $34,000. Finally, Global Wealth Management Investment Advisory Inc. grew its position in SolarEdge Technologies by 1,140.0% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 124 shares of the semiconductor company’s stock worth $35,000 after buying an additional 114 shares in the last quarter. 75.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Rachel Prishkolnik sold 1,900 shares of the 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 transaction, the vice president now directly owns 12,581 shares of the company’s stock, valued at approximately $3,794,177.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Rachel Prishkolnik sold 1,900 shares of the 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 transaction, the vice president now directly owns 12,581 shares of the company’s stock, valued at approximately $3,794,177.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Meir Adest sold 2,300 shares of the stock in a transaction on Monday, June 27th. The shares were sold at an average price of $301.58, for a total value of $693,634.00. Following the transaction, the insider now directly owns 183,757 shares in the company, valued at $55,417,436.06. The disclosure for this sale can be found here. Insiders have sold 9,261 shares of company stock valued at $2,601,376 in the last ninety days. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on SEDG. Cowen lifted their price target on SolarEdge Technologies from $344.00 to $370.00 in a research note on Wednesday, March 30th. BMO Capital Markets dropped their price target on SolarEdge Technologies from $405.00 to $372.00 in a research note on Tuesday, May 3rd. Citigroup lifted their price target on SolarEdge Technologies from $255.00 to $300.00 and gave the stock a “hold” rating in a research note on Tuesday, May 3rd. Truist Financial began coverage on SolarEdge Technologies in a research note on Monday, May 2nd. They set a “buy” rating and a $340.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on SolarEdge Technologies from $361.00 to $399.00 in a research note on Friday, April 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, SolarEdge Technologies has an average rating of “Moderate Buy” and a consensus price target of $350.81.

SolarEdge Technologies Stock Performance

Shares of SEDG opened at $265.85 on Monday. The business’s fifty day simple moving average is $268.69 and its two-hundred day simple moving average is $274.43. The company has a current ratio of 4.33, a quick ratio of 3.57 and a debt-to-equity ratio of 0.34. SolarEdge Technologies, Inc. has a 12 month low of $200.86 and a 12 month high of $389.71. The company has a market cap of $14.72 billion, a price-to-earnings ratio of 85.21, a P/E/G ratio of 1.95 and a beta of 1.06.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last released its quarterly earnings results on Monday, May 2nd. The semiconductor company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.18). The firm had revenue of $655.08 million for the quarter, compared to the consensus estimate of $634.70 million. SolarEdge Technologies had a net margin of 7.78% and a return on equity of 11.59%. Research analysts anticipate that SolarEdge Technologies, Inc. will post 4.76 earnings per share for the current fiscal year.

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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