Insider Selling: SolarEdge Technologies, Inc. (NASDAQ:SEDG) VP Sells 5,000 Shares of Stock

SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Rating) VP Meir Adest sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $307.75, for a total transaction of $1,538,750.00. Following the completion of the sale, the vice president now owns 162,248 shares of the company’s stock, valued at approximately $49,931,822. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Meir Adest also recently made the following trade(s):

  • On Wednesday, September 7th, Meir Adest sold 2,278 shares of SolarEdge Technologies stock. The stock was sold at an average price of $306.56, for a total value of $698,343.68.
  • On Monday, August 8th, Meir Adest sold 7,722 shares of SolarEdge Technologies stock. The stock was sold at an average price of $312.83, for a total value of $2,415,673.26.
  • On Tuesday, July 26th, Meir Adest sold 1,352 shares of SolarEdge Technologies stock. The shares were sold at an average price of $300.68, for a total value of $406,519.36.
  • On Monday, June 27th, Meir Adest sold 2,300 shares of SolarEdge Technologies stock. The shares were sold at an average price of $301.58, for a total transaction of $693,634.00.

SolarEdge Technologies Trading Down 5.9 %

Shares of SolarEdge Technologies stock opened at $270.94 on Friday. SolarEdge Technologies, Inc. has a fifty-two week low of $200.86 and a fifty-two week high of $389.71. The business’s fifty day moving average is $302.79 and its two-hundred day moving average is $290.41. The company has a quick ratio of 2.96, a current ratio of 3.73 and a debt-to-equity ratio of 0.33. The firm has a market cap of $15.01 billion, a PE ratio of 105.84, a P/E/G ratio of 2.50 and a beta of 1.24.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last released its earnings results on Tuesday, August 2nd. The semiconductor company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.53). The business had revenue of $727.77 million for the quarter, compared to analysts’ expectations of $725.75 million. SolarEdge Technologies had a return on equity of 8.56% and a net margin of 5.78%. Analysts anticipate that SolarEdge Technologies, Inc. will post 4.05 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on SEDG. Oppenheimer boosted their price objective on shares of SolarEdge Technologies from $334.00 to $400.00 in a report on Wednesday, August 3rd. Guggenheim upped their price target on SolarEdge Technologies from $348.00 to $389.00 in a report on Wednesday, August 3rd. TheStreet raised SolarEdge Technologies from a “c” rating to a “b-” rating in a report on Tuesday, August 2nd. Needham & Company LLC lowered their target price on SolarEdge Technologies from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Finally, Morgan Stanley raised their price target on SolarEdge Technologies from $316.00 to $352.00 and gave the company an “equal weight” rating in a research report on Thursday, August 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, SolarEdge Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $359.68.

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. boosted its holdings in shares of SolarEdge Technologies by 3.4% in the 2nd quarter. Federated Hermes Inc. now owns 110,560 shares of the semiconductor company’s stock valued at $30,258,000 after purchasing an additional 3,662 shares during the last quarter. Royal London Asset Management Ltd. raised its position in shares of SolarEdge Technologies by 23.3% in the 2nd quarter. Royal London Asset Management Ltd. now owns 22,214 shares of the semiconductor company’s stock worth $6,077,000 after buying an additional 4,199 shares during the period. Guinness Asset Management LTD boosted its holdings in SolarEdge Technologies by 2.5% in the second quarter. Guinness Asset Management LTD now owns 72,560 shares of the semiconductor company’s stock valued at $19,858,000 after acquiring an additional 1,760 shares during the last quarter. Amundi grew its position in SolarEdge Technologies by 15.7% during the second quarter. Amundi now owns 507,750 shares of the semiconductor company’s stock valued at $136,958,000 after acquiring an additional 68,858 shares during the period. Finally, M&G Investment Management Ltd. increased its stake in SolarEdge Technologies by 8.0% during the second quarter. M&G Investment Management Ltd. now owns 182,838 shares of the semiconductor company’s stock worth $50,098,000 after acquiring an additional 13,537 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

SolarEdge Technologies Company Profile

(Get Rating)

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.

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