First Solar, Inc. (NASDAQ:FSLR) Shares Sold by APG Asset Management N.V.

APG Asset Management N.V. lessened its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 70.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,756 shares of the solar cell manufacturer’s stock after selling 149,170 shares during the quarter. APG Asset Management N.V.’s holdings in First Solar were worth $10,851,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its position in shares of First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after buying an additional 63 shares in the last quarter. Crews Bank & Trust acquired a new position in First Solar during the 4th quarter worth $53,000. Hudson Edge Investment Partners Inc. bought a new stake in shares of First Solar in the 4th quarter worth about $53,000. CoreFirst Bank & Trust acquired a new stake in shares of First Solar in the 4th quarter valued at about $54,000. Finally, Montag A & Associates Inc. lifted its position in shares of First Solar by 18.8% during the fourth quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer’s stock worth $84,000 after purchasing an additional 75 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FSLR. BMO Capital Markets reissued an “outperform” rating and issued a $230.00 price objective (down from $260.00) on shares of First Solar in a report on Wednesday, February 26th. Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Guggenheim reduced their price objective on First Solar from $304.00 to $253.00 and set a “buy” rating on the stock in a research note on Monday. Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $218.00 to $259.00 in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company reduced their price target on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and an average price target of $257.42.

First Solar Trading Down 5.7 %

Shares of NASDAQ:FSLR opened at $122.19 on Friday. The company has a 50 day moving average of $140.63 and a 200-day moving average of $176.99. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a market cap of $13.08 billion, a P/E ratio of 10.52, a P/E/G ratio of 0.19 and a beta of 1.48. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $306.77.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. As a group, analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity at First Solar

In other news, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at $484,793.40. This trade represents a 67.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the sale, the chief executive officer now owns 103,403 shares of the company’s stock, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,311 shares of company stock valued at $4,767,158. Corporate insiders own 0.58% of the company’s stock.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.