Candriam Luxembourg S.C.A. Raises Stock Position in Solaredge Technologies Inc (NASDAQ:SEDG)

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Candriam Luxembourg S.C.A. increased its holdings in shares of Solaredge Technologies Inc (NASDAQ:SEDG) by 557.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,781 shares of the semiconductor company’s stock after purchasing an additional 38,817 shares during the period. Candriam Luxembourg S.C.A. owned approximately 0.09% of Solaredge Technologies worth $4,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of SEDG. American International Group Inc. grew its position in Solaredge Technologies by 1,664.1% during the fourth quarter. American International Group Inc. now owns 93,054 shares of the semiconductor company’s stock valued at $8,849,000 after buying an additional 87,779 shares during the period. Oregon Public Employees Retirement Fund grew its position in Solaredge Technologies by 1.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,164 shares of the semiconductor company’s stock valued at $1,727,000 after buying an additional 308 shares during the period. Rhumbline Advisers grew its position in Solaredge Technologies by 4.6% during the fourth quarter. Rhumbline Advisers now owns 82,222 shares of the semiconductor company’s stock valued at $7,818,000 after buying an additional 3,653 shares during the period. Tradewinds Capital Management LLC acquired a new stake in Solaredge Technologies during the fourth quarter valued at $27,000. Finally, Victory Capital Management Inc. acquired a new stake in Solaredge Technologies during the fourth quarter valued at $223,000. 80.85% of the stock is owned by hedge funds and other institutional investors.

SEDG has been the topic of several analyst reports. Canaccord Genuity raised their price target on shares of Solaredge Technologies from $78.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Needham & Company LLC initiated coverage on shares of Solaredge Technologies in a research report on Monday, December 2nd. They set a “buy” rating and a $102.00 price target on the stock. Northland Securities lowered shares of Solaredge Technologies from an “outperform” rating to a “market perform” rating and set a $102.00 price target on the stock. in a research report on Monday, January 27th. Roth Capital dropped their price target on shares of Solaredge Technologies from $105.00 to $100.00 in a research report on Monday, November 25th. Finally, BidaskClub lowered shares of Solaredge Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $93.31.

In other news, VP Rachel Prishkolnik sold 7,833 shares of Solaredge Technologies stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $77.02, for a total value of $603,297.66. Following the sale, the vice president now owns 46,851 shares in the company, valued at $3,608,464.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Doron Inbar sold 21,000 shares of Solaredge Technologies stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $90.37, for a total transaction of $1,897,770.00. Following the completion of the sale, the director now owns 46,712 shares in the company, valued at approximately $4,221,363.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 188,638 shares of company stock worth $17,636,404. Company insiders own 7.90% of the company’s stock.

Shares of NASDAQ SEDG opened at $111.21 on Friday. The company’s 50-day simple moving average is $102.92 and its 200-day simple moving average is $87.86. Solaredge Technologies Inc has a 52-week low of $36.28 and a 52-week high of $113.20. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 52.21, a price-to-earnings-growth ratio of 1.09 and a beta of 0.06. The company has a quick ratio of 2.09, a current ratio of 2.49 and a debt-to-equity ratio of 0.04.

Solaredge Technologies Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.

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

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