PFG Investments LLC Sells 2,751 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

PFG Investments LLC lowered its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 36.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,707 shares of the semiconductor company’s stock after selling 2,751 shares during the period. PFG Investments LLC’s holdings in SolarEdge Technologies were worth $441,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. NBC Securities Inc. bought a new position in SolarEdge Technologies in the 3rd quarter worth approximately $25,000. Quarry LP bought a new position in SolarEdge Technologies in the 1st quarter worth approximately $27,000. Harbour Investments Inc. raised its position in SolarEdge Technologies by 102.0% in the 4th quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 50 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new position in SolarEdge Technologies in the 1st quarter worth approximately $29,000. Finally, Hollencrest Capital Management bought a new position in SolarEdge Technologies in the 1st quarter worth approximately $30,000. Institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG opened at $69.69 on Thursday. SolarEdge Technologies, Inc. has a 1-year low of $60.44 and a 1-year high of $322.19. The firm has a market cap of $3.98 billion, a PE ratio of 154.87 and a beta of 1.50. The company has a fifty day moving average price of $70.92 and a 200 day moving average price of $87.80. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The business had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. Research analysts predict that SolarEdge Technologies, Inc. will post -3.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SEDG. Susquehanna dropped their price objective on shares of SolarEdge Technologies from $107.00 to $97.00 and set a “positive” rating for the company in a research report on Wednesday, February 21st. BMO Capital Markets lowered their target price on shares of SolarEdge Technologies from $85.00 to $80.00 and set a “market perform” rating for the company in a report on Wednesday, February 21st. Janney Montgomery Scott lowered shares of SolarEdge Technologies from a “buy” rating to a “neutral” rating in a report on Friday, March 22nd. Royal Bank of Canada lowered their target price on shares of SolarEdge Technologies from $85.00 to $77.00 and set a “sector perform” rating for the company in a report on Wednesday, February 21st. Finally, StockNews.com raised shares of SolarEdge Technologies to a “sell” rating in a report on Thursday, December 28th. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $109.69.

Insider Activity at SolarEdge Technologies

In related news, Director More Avery acquired 7,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was purchased at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the transaction, the director now directly owns 77,446 shares of the company’s stock, valued at approximately $5,246,966.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.17% of the stock is currently owned by company insiders.

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.