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

SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) insider Meir Adest sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $315.96, for a total transaction of $1,579,800.00. Following the sale, the insider now owns 140,485 shares of the company’s stock, valued at $44,387,640.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, November 17th, Meir Adest sold 2,500 shares of SolarEdge Technologies stock. The shares were sold at an average price of $300.29, for a total transaction of $750,725.00.
• On Tuesday, November 15th, Meir Adest sold 2,500 shares of SolarEdge Technologies stock. The stock was sold at an average price of $290.46, for a total transaction of $726,150.00.
• On Tuesday, November 8th, Meir Adest sold 2,500 shares of SolarEdge Technologies stock. The stock was sold at an average price of $250.30, for a total transaction of $625,750.00.

SolarEdge Technologies Trading Up 2.8 %

SEDG opened at $294.73 on Friday. The business’s 50-day simple moving average is $302.40 and its 200-day simple moving average is $282.09. The company has a market cap of $16.47 billion, a P/E ratio of 145.19, a PEG ratio of 1.31 and a beta of 1.28. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.72 and a current ratio of 3.53. SolarEdge Technologies, Inc. has a one year low of $190.15 and a one year high of $375.90.

SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last released its quarterly earnings results on Monday, November 7th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.86). The firm had revenue of $836.72 million for the quarter, compared to analysts’ expectations of $825.69 million. SolarEdge Technologies had a return on equity of 5.75% and a net margin of 4.11%. As a group, equities research analysts expect that SolarEdge Technologies, Inc. will post 2.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Robeco Schweiz AG purchased a new position in SolarEdge Technologies during the 1st quarter worth $94,454,000. Clearbridge Investments LLC grew its stake in shares of SolarEdge Technologies by 120.4% during the 1st quarter. Clearbridge Investments LLC now owns 476,378 shares of the semiconductor company’s stock worth $153,570,000 after purchasing an additional 260,203 shares during the period. Tairen Capital Ltd grew its stake in shares of SolarEdge Technologies by 278.2% during the 3rd quarter. Tairen Capital Ltd now owns 345,329 shares of the semiconductor company’s stock worth $79,930,000 after purchasing an additional 254,029 shares during the period. Baird Financial Group Inc. grew its stake in shares of SolarEdge Technologies by 124.5% during the 2nd quarter. Baird Financial Group Inc. now owns 208,066 shares of the semiconductor company’s stock worth $56,943,000 after purchasing an additional 115,372 shares during the period. Finally, Pictet Asset Management SA grew its stake in shares of SolarEdge Technologies by 7.0% during the 2nd quarter. Pictet Asset Management SA now owns 1,743,403 shares of the semiconductor company’s stock worth $477,135,000 after purchasing an additional 113,705 shares during the period. Institutional investors and hedge funds own 80.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of SolarEdge Technologies from $344.00 to $374.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 10th. Truist Financial cut their price target on shares of SolarEdge Technologies from $385.00 to $320.00 and set a “buy” rating on the stock in a report on Tuesday, October 18th. BMO Capital Markets boosted their price target on shares of SolarEdge Technologies from $316.00 to $355.00 in a report on Friday, November 18th. Cowen upped their target price on SolarEdge Technologies from $309.00 to $360.00 in a report on Monday, December 5th. Finally, Needham & Company LLC reduced their price target on SolarEdge Technologies from $380.00 to $370.00 and set a “buy” rating on the stock in a research report on Tuesday, November 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $347.40.

SolarEdge Technologies Company 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.