Goldman Sachs Group Inc. lifted its holdings in Solaredge Technologies Inc (NASDAQ:SEDG) by 3.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 703,910 shares of the semiconductor company’s stock after acquiring an additional 25,772 shares during the period. Goldman Sachs Group Inc. owned approximately 1.64% of Solaredge Technologies worth $26,432,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Solaredge Technologies in the fourth quarter valued at about $102,000. American International Group Inc. acquired a new position in shares of Solaredge Technologies in the third quarter valued at about $123,000. Pinebridge Investments L.P. acquired a new position in shares of Solaredge Technologies in the third quarter valued at about $125,000. Baird Financial Group Inc. acquired a new position in shares of Solaredge Technologies in the fourth quarter valued at about $213,000. Finally, UBS Asset Management Americas Inc. acquired a new position in shares of Solaredge Technologies in the fourth quarter valued at about $218,000. Institutional investors and hedge funds own 65.65% of the company’s stock.
In other news, VP Yoav Galin sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $37.74, for a total value of $566,100.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Guy Sella sold 216,666 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $42.15, for a total transaction of $9,132,471.90. Following the completion of the sale, the chief executive officer now owns 73,333 shares in the company, valued at $3,090,985.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 413,566 shares of company stock worth $18,016,103. 16.40% of the stock is currently owned by corporate insiders.
Solaredge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.29. Solaredge Technologies had a net margin of 13.87% and a return on equity of 29.21%. The company had revenue of $189.34 million for the quarter, compared to the consensus estimate of $179.78 million. equities research analysts forecast that Solaredge Technologies Inc will post 2.45 EPS for the current year.
Several equities analysts recently commented on SEDG shares. Vertical Group upgraded shares of Solaredge Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. Vertical Research upgraded shares of Solaredge Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. Zacks Investment Research downgraded shares of Solaredge Technologies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 10th. BidaskClub downgraded shares of Solaredge Technologies from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Solaredge Technologies from $52.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, March 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Solaredge Technologies has an average rating of “Buy” and an average price target of $45.61.
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Solaredge Technologies Profile
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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