Vontobel Holding Ltd. Sells 304,608 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Vontobel Holding Ltd. reduced its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 83.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 58,526 shares of the semiconductor company’s stock after selling 304,608 shares during the period. Vontobel Holding Ltd. owned about 0.10% of SolarEdge Technologies worth $5,478,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of SolarEdge Technologies by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock worth $327,566,000 after acquiring an additional 92,230 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of SolarEdge Technologies by 89.3% during the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock worth $229,298,000 after acquiring an additional 835,290 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in shares of SolarEdge Technologies by 108.5% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock worth $193,626,000 after acquiring an additional 778,034 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of SolarEdge Technologies by 10.0% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 984,901 shares of the semiconductor company’s stock worth $92,210,000 after acquiring an additional 89,279 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in SolarEdge Technologies by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 975,405 shares of the semiconductor company’s stock worth $295,685,000 after purchasing an additional 12,999 shares during the period. 95.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on SEDG. B. Riley reduced their price objective on SolarEdge Technologies from $166.00 to $133.00 and set a “buy” rating on the stock in a report on Monday, February 5th. Scotiabank reduced their price objective on SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 21st. Piper Sandler reduced their price objective on SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. Royal Bank of Canada reduced their price objective on SolarEdge Technologies from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 21st. Finally, DZ Bank began coverage on SolarEdge Technologies in a report on Wednesday. They set a “hold” rating and a $62.00 price objective on the stock. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $98.81.

SolarEdge Technologies Stock Up 0.4 %

Shares of SEDG stock opened at $59.74 on Thursday. The stock’s fifty day moving average price is $70.20 and its 200 day moving average price is $80.44. SolarEdge Technologies, Inc. has a 1-year low of $57.72 and a 1-year high of $322.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 132.76 and a beta of 1.51.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, topping analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The company had revenue of $316.04 million during the quarter, compared to analysts’ expectations of $319.97 million. On average, research analysts expect that SolarEdge Technologies, Inc. will post -4.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director More Avery purchased 7,000 shares of the stock in a transaction on Thursday, February 29th. The stock was bought at an average price of $67.75 per share, with a total value of $474,250.00. Following the transaction, the director now owns 77,446 shares in the company, valued at approximately $5,246,966.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.17% of the stock is currently owned by insiders.

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.