SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. trimmed its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 83.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,526 shares of the semiconductor company’s stock after selling 304,608 shares during the quarter. Vontobel Holding Ltd.’s holdings in SolarEdge Technologies were worth $5,478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd lifted its holdings in shares of SolarEdge Technologies by 143.8% in the 3rd quarter. Altshuler Shaham Ltd now owns 20,856 shares of the semiconductor company’s stock valued at $2,701,000 after buying an additional 12,302 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of SolarEdge Technologies by 20,293.3% in the 4th quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company’s stock valued at $9,716,000 after buying an additional 103,293 shares during the period. Royal London Asset Management Ltd. lifted its holdings in shares of SolarEdge Technologies by 5.4% in the 3rd quarter. Royal London Asset Management Ltd. now owns 21,492 shares of the semiconductor company’s stock valued at $2,782,000 after buying an additional 1,101 shares during the period. Meitav Investment House Ltd. lifted its holdings in shares of SolarEdge Technologies by 27.2% in the 3rd quarter. Meitav Investment House Ltd. now owns 465,854 shares of the semiconductor company’s stock valued at $61,231,000 after buying an additional 99,681 shares during the period. Finally, Compagnie Lombard Odier SCmA lifted its holdings in shares of SolarEdge Technologies by 250.0% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock valued at $66,000 after buying an additional 500 shares during the period. 95.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SolarEdge Technologies

In other news, Director More Avery purchased 7,000 shares of the stock in a transaction on Thursday, February 29th. The stock was purchased at an average price of $67.75 per share, with a total value of $474,250.00. Following the completion of the transaction, the director now owns 77,446 shares in the company, valued at $5,246,966.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.17% of the company’s stock.

SolarEdge Technologies Stock Performance

SolarEdge Technologies stock opened at $59.74 on Thursday. The firm has a market capitalization of $3.41 billion, a P/E ratio of 132.76 and a beta of 1.51. The stock has a fifty day moving average price of $70.20 and a 200 day moving average price of $80.44. SolarEdge Technologies, Inc. has a 52 week low of $57.72 and a 52 week high of $322.19. 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 released its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, beating the consensus estimate of ($2.01) by $0.60. The firm had revenue of $316.04 million during the quarter, compared to analyst estimates of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. Equities research analysts anticipate that SolarEdge Technologies, Inc. will post -4.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SEDG shares. Canaccord Genuity Group started coverage on SolarEdge Technologies in a report on Tuesday, January 16th. They issued a “hold” rating and a $80.00 price target for the company. DZ Bank began coverage on SolarEdge Technologies in a report on Wednesday. They issued a “hold” rating and a $62.00 price target for the company. Piper Sandler dropped their price objective on SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, February 21st. Barclays raised their price objective on SolarEdge Technologies from $50.00 to $61.00 and gave the company an “underweight” rating in a research note on Tuesday. Finally, Scotiabank dropped their price objective on SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 21st. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $98.81.

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.