Krane Funds Advisors LLC Sells 1,019 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Krane Funds Advisors LLC lowered its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 14.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,914 shares of the semiconductor company’s stock after selling 1,019 shares during the period. SolarEdge Technologies makes up 0.1% of Krane Funds Advisors LLC’s portfolio, making the stock its 29th biggest position. Krane Funds Advisors LLC’s holdings in SolarEdge Technologies were worth $1,705,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of SEDG. Panagora Asset Management Inc. grew its holdings in shares of SolarEdge Technologies by 28.3% in the 1st quarter. Panagora Asset Management Inc. now owns 2,254 shares of the semiconductor company’s stock valued at $727,000 after buying an additional 497 shares during the period. Rhumbline Advisers lifted its holdings in SolarEdge Technologies by 2.7% during the first quarter. Rhumbline Advisers now owns 44,407 shares of the semiconductor company’s stock worth $14,315,000 after acquiring an additional 1,174 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in SolarEdge Technologies by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,027 shares of the semiconductor company’s stock valued at $2,265,000 after acquiring an additional 435 shares during the period. Cibc World Market Inc. increased its holdings in shares of SolarEdge Technologies by 28.5% in the first quarter. Cibc World Market Inc. now owns 4,844 shares of the semiconductor company’s stock worth $1,562,000 after acquiring an additional 1,073 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of SolarEdge Technologies by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 210,973 shares of the semiconductor company’s stock worth $68,007,000 after purchasing an additional 1,902 shares during the period. 86.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SolarEdge Technologies

In related news, CFO Ronen Faier acquired 875 shares of SolarEdge Technologies stock in a transaction on Wednesday, August 9th. The stock was purchased at an average cost of $180.10 per share, with a total value of $157,587.50. Following the completion of the transaction, the chief financial officer now directly owns 73,414 shares in the company, valued at approximately $13,221,861.40. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.17% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SEDG. TheStreet lowered SolarEdge Technologies from a “b-” rating to a “c” rating in a research report on Tuesday, August 1st. JPMorgan Chase & Co. lowered their price objective on shares of SolarEdge Technologies from $393.00 to $359.00 in a research report on Wednesday, July 19th. BMO Capital Markets cut their price objective on shares of SolarEdge Technologies from $368.00 to $285.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 2nd. Piper Sandler lowered their target price on SolarEdge Technologies from $395.00 to $370.00 in a report on Tuesday, July 18th. Finally, The Goldman Sachs Group cut their price target on SolarEdge Technologies from $414.00 to $353.00 and set a “buy” rating on the stock in a report on Wednesday, August 2nd. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $330.19.

SolarEdge Technologies Stock Down 2.3 %

SolarEdge Technologies stock opened at $148.85 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.84 and a quick ratio of 2.75. The company’s 50-day moving average is $209.15 and its 200-day moving average is $262.97. The firm has a market capitalization of $8.42 billion, a PE ratio of 28.79, a P/E/G ratio of 0.85 and a beta of 1.41. SolarEdge Technologies, Inc. has a fifty-two week low of $146.10 and a fifty-two week high of $345.80.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.01. The firm had revenue of $991.29 million for the quarter, compared to the consensus estimate of $989.17 million. SolarEdge Technologies had a return on equity of 18.19% and a net margin of 8.29%. Sell-side analysts anticipate that SolarEdge Technologies, Inc. will post 7.36 earnings per share for the current year.

About SolarEdge Technologies

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 in Solar and All Other segments. 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.