Erste Asset Management GmbH Reduces Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Erste Asset Management GmbH lessened its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 94.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 9,733 shares of the semiconductor company’s stock after selling 181,472 shares during the quarter. Erste Asset Management GmbH’s holdings in SolarEdge Technologies were worth $133,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. KBC Group NV boosted its position in shares of SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 1,378 shares during the period. Jones Financial Companies Lllp boosted its position in shares of SolarEdge Technologies by 401.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 1,954 shares during the period. Y.D. More Investments Ltd raised its stake in shares of SolarEdge Technologies by 251.8% during the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 2,770 shares in the last quarter. Meitav Investment House Ltd. raised its stake in shares of SolarEdge Technologies by 0.6% during the fourth quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company’s stock valued at $7,957,000 after acquiring an additional 3,282 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of SolarEdge Technologies by 0.3% during 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. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Insider Activity

In related news, Chairman More Avery acquired 30,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $13.70 per share, with a total value of $411,000.00. Following the completion of the acquisition, the chairman now directly owns 274,478 shares of the company’s stock, valued at $3,760,348.60. This represents a 12.27 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.67% of the company’s stock.

SolarEdge Technologies Price Performance

Shares of SEDG opened at $16.12 on Friday. The firm has a market capitalization of $947.58 million, a PE ratio of -0.52 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. SolarEdge Technologies, Inc. has a 1-year low of $10.24 and a 1-year high of $73.60. The company’s fifty day moving average price is $15.29 and its 200-day moving average price is $16.34.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Morgan Stanley raised shares of SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $11.00 to $18.00 in a research note on Thursday, February 20th. Canaccord Genuity Group lifted their price target on shares of SolarEdge Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Wells Fargo & Company decreased their price target on shares of SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Barclays lifted their price target on shares of SolarEdge Technologies from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Tuesday, January 14th. Finally, Susquehanna boosted their price objective on shares of SolarEdge Technologies from $13.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Ten analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, SolarEdge Technologies presently has an average rating of “Hold” and an average target price of $21.65.

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.