SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd cut its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 11.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 434,030 shares of the semiconductor company’s stock after selling 54,800 shares during the quarter. UniSuper Management Pty Ltd owned 0.75% of SolarEdge Technologies worth $5,903,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SEDG. Assenagon Asset Management S.A. boosted its position in shares of SolarEdge Technologies by 182.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock valued at $11,888,000 after purchasing an additional 564,490 shares during the period. Soros Fund Management LLC acquired a new position in shares of SolarEdge Technologies in the third quarter worth about $5,293,000. Erste Asset Management GmbH purchased a new position in shares of SolarEdge Technologies in the third quarter worth approximately $4,420,000. Charles Schwab Investment Management Inc. raised its holdings in shares of SolarEdge Technologies by 38.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,928 shares of the semiconductor company’s stock valued at $7,085,000 after acquiring an additional 144,733 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of SolarEdge Technologies by 592.3% in the 4th quarter. SG Americas Securities LLC now owns 137,736 shares of the semiconductor company’s stock valued at $1,873,000 after acquiring an additional 117,841 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

SolarEdge Technologies Price Performance

Shares of NASDAQ:SEDG opened at $15.93 on Friday. The company has a market cap of $936.41 million, a price-to-earnings ratio of -0.51 and a beta of 1.78. The business has a 50 day moving average price of $15.61 and a 200 day moving average price of $16.01. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. SolarEdge Technologies, Inc. has a twelve month low of $10.24 and a twelve month high of $73.60.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. UBS Group upped their price target on SolarEdge Technologies from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. BMO Capital Markets lowered SolarEdge Technologies from a “market perform” rating to an “underperform” rating and raised their price objective for the stock from $13.00 to $15.00 in a research report on Thursday, February 20th. Truist Financial dropped their target price on SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, January 16th. Finally, Barclays raised their price target on shares of SolarEdge Technologies from $7.00 to $10.00 and gave the stock an “underweight” rating in a report on Tuesday, January 14th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, SolarEdge Technologies has an average rating of “Hold” and an average price target of $21.80.

Insider Transactions at SolarEdge Technologies

In related news, Chairman More Avery acquired 30,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the acquisition, the chairman now owns 274,478 shares in the company, valued at $3,760,348.60. This trade represents a 12.27 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.67% of the company’s stock.

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.