PFG Investments LLC Sells 2,751 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

PFG Investments LLC cut its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 36.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,707 shares of the semiconductor company’s stock after selling 2,751 shares during the period. PFG Investments LLC’s holdings in SolarEdge Technologies were worth $441,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Compagnie Lombard Odier SCmA increased its position in shares of SolarEdge Technologies by 250.0% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock worth $66,000 after acquiring an additional 500 shares in the last quarter. SG Americas Securities LLC grew its position in SolarEdge Technologies by 53.8% in the 4th quarter. SG Americas Securities LLC now owns 22,221 shares of the semiconductor company’s stock worth $2,080,000 after purchasing an additional 7,775 shares in the last quarter. CX Institutional bought a new stake in SolarEdge Technologies in the 4th quarter worth about $316,000. Cascade Investment Advisors Inc. grew its position in SolarEdge Technologies by 59.1% in the 4th quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the semiconductor company’s stock worth $971,000 after purchasing an additional 3,855 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new stake in SolarEdge Technologies in the 4th quarter worth about $3,071,000. 95.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director More Avery bought 7,000 shares of the stock in a transaction on Thursday, February 29th. The shares were acquired 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 of the company’s stock, valued at approximately $5,246,966.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.17% of the company’s stock.

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $69.69 on Thursday. The stock has a market capitalization of $3.98 billion, a P/E ratio of 154.87 and a beta of 1.50. 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 firm’s 50 day moving average is $70.92 and its 200 day moving average is $87.80. SolarEdge Technologies, Inc. has a 12 month low of $60.44 and a 12 month high of $322.19.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The company had revenue of $316.04 million for the quarter, compared to analysts’ expectations of $319.97 million. On average, sell-side analysts anticipate that SolarEdge Technologies, Inc. will post -3.94 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on SEDG. BMO Capital Markets reduced their price objective on shares of SolarEdge Technologies from $85.00 to $80.00 and set a “market perform” rating for the company in a research report on Wednesday, February 21st. Royal Bank of Canada reduced their price objective on shares of SolarEdge Technologies from $85.00 to $77.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 21st. Canaccord Genuity Group began coverage on shares of SolarEdge Technologies in a research report on Tuesday, January 16th. They issued a “hold” rating and a $80.00 price objective for the company. StockNews.com raised shares of SolarEdge Technologies to a “sell” rating in a research report on Thursday, December 28th. Finally, Barclays reiterated an “underweight” rating and issued a $50.00 target price (down from $74.00) on shares of SolarEdge Technologies in a research note on Wednesday, January 17th. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, SolarEdge Technologies presently has a consensus rating of “Hold” and a consensus price target of $109.69.

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.