Slow Capital Inc. Sells 8,793 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Slow Capital Inc. cut its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 29.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,992 shares of the semiconductor company’s stock after selling 8,793 shares during the quarter. Slow Capital Inc.’s holdings in SolarEdge Technologies were worth $1,965,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Altshuler Shaham Ltd raised its stake in SolarEdge Technologies by 143.8% during 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 last quarter. International Assets Investment Management LLC increased its stake 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 worth $9,716,000 after purchasing an additional 103,293 shares in the last quarter. Royal London Asset Management Ltd. increased its stake 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 worth $2,782,000 after purchasing an additional 1,101 shares in the last quarter. Meitav Investment House Ltd. increased its stake 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 worth $61,231,000 after purchasing an additional 99,681 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA increased its stake 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 worth $66,000 after purchasing an additional 500 shares in the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director More Avery acquired 7,000 shares of SolarEdge Technologies stock in a transaction dated Thursday, February 29th. The shares were acquired at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the acquisition, the director now owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.17% of the company’s stock.

SolarEdge Technologies Trading Up 0.8 %

Shares of NASDAQ:SEDG traded up $0.47 during mid-day trading on Wednesday, reaching $59.99. 909,867 shares of the company were exchanged, compared to its average volume of 2,390,890. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 132.27 and a beta of 1.51. The firm’s 50-day simple moving average is $70.53 and its 200 day simple moving average is $80.58. SolarEdge Technologies, Inc. has a 1 year low of $57.72 and a 1 year high of $322.19.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $319.97 million. Equities research analysts forecast that SolarEdge Technologies, Inc. will post -4.04 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on SEDG shares. Scotiabank reduced 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. The Goldman Sachs Group reduced their price objective on SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating for the company in a research note on Wednesday, January 24th. Truist Financial cut their price target on SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, February 22nd. Barclays increased their price target on SolarEdge Technologies from $50.00 to $61.00 and gave the stock an “underweight” rating in a research note on Tuesday. Finally, Citigroup cut their price target on SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating for the company in a research note on Wednesday, February 21st. Four analysts have rated the stock with a sell rating, twenty have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $100.28.

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.