Quantbot Technologies LP Reduces Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Quantbot Technologies LP reduced its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 52.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 39,124 shares of the semiconductor company’s stock after selling 43,979 shares during the period. Quantbot Technologies LP’s holdings in SolarEdge Technologies were worth $532,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SEDG. Two Sigma Advisers LP raised its holdings in SolarEdge Technologies by 0.3% in the third quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company’s stock valued at $26,166,000 after acquiring an additional 3,400 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of SolarEdge Technologies by 0.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,011,760 shares of the semiconductor company’s stock valued at $13,760,000 after purchasing an additional 8,079 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of SolarEdge Technologies by 182.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock worth $11,888,000 after purchasing an additional 564,490 shares during the last quarter. Geode Capital Management LLC grew its stake in SolarEdge Technologies by 3.7% in the third quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company’s stock worth $16,227,000 after purchasing an additional 25,474 shares in the last quarter. Finally, Meitav Investment House Ltd. grew its stake in SolarEdge Technologies by 0.6% in the fourth quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company’s stock worth $7,957,000 after purchasing an additional 3,282 shares in the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Stock Performance

SEDG opened at $15.93 on Friday. The business has a 50 day moving average price of $15.61 and a two-hundred day moving average price of $16.01. SolarEdge Technologies, Inc. has a 1-year low of $10.24 and a 1-year high of $73.60. The company has a market capitalization of $936.41 million, a price-to-earnings ratio of -0.51 and a beta of 1.78. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46.

Insider Buying and Selling at SolarEdge Technologies

In related news, Chairman More Avery acquired 30,000 shares of SolarEdge Technologies stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $13.70 per share, with a total value of $411,000.00. Following the purchase, the chairman now directly owns 274,478 shares in the company, valued at $3,760,348.60. The trade was a 12.27 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SEDG has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their target price on SolarEdge Technologies from $21.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Barclays raised their price objective on SolarEdge Technologies from $7.00 to $10.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 14th. Jefferies Financial Group boosted their target price on shares of SolarEdge Technologies from $9.00 to $12.00 and gave the company an “underperform” rating in a research note on Friday, February 21st. Canaccord Genuity Group raised their price target on shares of SolarEdge Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Finally, Susquehanna boosted their price objective on shares of SolarEdge Technologies from $13.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $21.80.

SolarEdge Technologies Company Profile

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.