SolarEdge Technologies, Inc. (NASDAQ:SEDG) Position Lifted by IFM Investors Pty Ltd

IFM Investors Pty Ltd raised its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Rating) by 19.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,449 shares of the semiconductor company’s stock after acquiring an additional 1,367 shares during the quarter. IFM Investors Pty Ltd’s holdings in SolarEdge Technologies were worth $2,724,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Pictet Asset Management SA boosted its stake in SolarEdge Technologies by 30.1% during the 4th quarter. Pictet Asset Management SA now owns 1,284,822 shares of the semiconductor company’s stock valued at $360,483,000 after acquiring an additional 297,272 shares during the last quarter. William Blair Investment Management LLC boosted its stake in SolarEdge Technologies by 33.7% during the 4th quarter. William Blair Investment Management LLC now owns 893,189 shares of the semiconductor company’s stock valued at $250,602,000 after acquiring an additional 225,021 shares during the last quarter. Geode Capital Management LLC boosted its stake in SolarEdge Technologies by 63.8% during the 4th quarter. Geode Capital Management LLC now owns 811,454 shares of the semiconductor company’s stock valued at $226,980,000 after acquiring an additional 316,001 shares during the last quarter. Impax Asset Management Group plc lifted its position in shares of SolarEdge Technologies by 0.5% in the 4th quarter. Impax Asset Management Group plc now owns 754,007 shares of the semiconductor company’s stock worth $210,837,000 after buying an additional 3,938 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of SolarEdge Technologies by 0.5% in the 4th quarter. Schroder Investment Management Group now owns 725,243 shares of the semiconductor company’s stock worth $203,481,000 after buying an additional 3,606 shares during the last quarter. 75.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SEDG shares. Piper Sandler reduced their price target on shares of SolarEdge Technologies from $400.00 to $385.00 in a research report on Thursday, April 21st. Oppenheimer raised their price target on shares of SolarEdge Technologies from $334.00 to $400.00 in a research report on Wednesday. Needham & Company LLC reduced their price target on shares of SolarEdge Technologies from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday. BMO Capital Markets reduced their price target on shares of SolarEdge Technologies from $405.00 to $372.00 in a research report on Tuesday, May 3rd. Finally, Morgan Stanley reduced their price target on shares of SolarEdge Technologies from $333.00 to $316.00 and set an “equal weight” rating on the stock in a research report on Monday, June 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, SolarEdge Technologies has a consensus rating of “Moderate Buy” and an average target price of $357.32.

SolarEdge Technologies Stock Up 2.0 %

SolarEdge Technologies stock opened at $315.50 on Friday. The stock has a market cap of $17.47 billion, a price-to-earnings ratio of 123.24, a PEG ratio of 2.20 and a beta of 1.15. The company has a current ratio of 3.73, a quick ratio of 3.57 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $289.45 and its two-hundred day moving average price is $279.68. SolarEdge Technologies, Inc. has a 52 week low of $200.86 and a 52 week high of $389.71.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, VP Rachel Prishkolnik sold 1,900 shares of the firm’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $301.58, for a total transaction of $573,002.00. Following the transaction, the vice president now owns 12,581 shares of the company’s stock, valued at approximately $3,794,177.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Meir Adest sold 5,000 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $263.61, for a total value of $1,318,050.00. Following the transaction, the insider now owns 186,057 shares of the company’s stock, valued at approximately $49,046,485.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Rachel Prishkolnik sold 1,900 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $301.58, for a total transaction of $573,002.00. Following the completion of the transaction, the vice president now directly owns 12,581 shares in the company, valued at approximately $3,794,177.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,613 shares of company stock valued at $3,007,896. Company insiders own 1.60% of the company’s stock.

About SolarEdge Technologies

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SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.

Further Reading

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Institutional Ownership by Quarter for SolarEdge Technologies (NASDAQ:SEDG)

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