SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP trimmed its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 52.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,124 shares of the semiconductor company’s stock after selling 43,979 shares during the period. Quantbot Technologies LP owned about 0.07% of SolarEdge Technologies worth $532,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Millstone Evans Group LLC acquired a new position in SolarEdge Technologies during the fourth quarter worth $27,000. Jones Financial Companies Lllp increased its position in shares of SolarEdge Technologies by 401.2% in 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 in the last quarter. Y.D. More Investments Ltd raised its stake in shares of SolarEdge Technologies by 251.8% during the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock worth $53,000 after buying an additional 2,770 shares during the last quarter. R Squared Ltd purchased a new stake in shares of SolarEdge Technologies in the 4th quarter worth about $61,000. Finally, GAMMA Investing LLC grew its stake in SolarEdge Technologies by 655.2% in the 4th quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 4,567 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Trading Down 1.1 %

Shares of SEDG opened at $15.93 on Friday. SolarEdge Technologies, Inc. has a 12 month low of $10.24 and a 12 month high of $73.60. The stock’s 50-day moving average is $15.61 and its two-hundred day moving average is $16.01. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. The stock has a market cap of $936.41 million, a PE ratio of -0.51 and a beta of 1.78.

Analysts Set New Price Targets

SEDG has been the topic of several recent research reports. Susquehanna upped their price target on shares of SolarEdge Technologies from $13.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Truist Financial reduced their target price on SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, January 16th. Morgan Stanley raised SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $11.00 to $18.00 in a research report on Thursday, February 20th. Northland Securities downgraded SolarEdge Technologies from a “market perform” rating to an “under perform” rating and set a $15.00 price objective on the stock. in a research report on Thursday, February 20th. Finally, UBS Group lifted their price objective on SolarEdge Technologies from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $21.80.

Insider Buying and Selling

In other news, Chairman More Avery purchased 30,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $13.70 per share, with a total value of $411,000.00. Following the acquisition, the chairman now owns 274,478 shares in the company, valued at approximately $3,760,348.60. This trade represents a 12.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.67% of the stock is currently owned by corporate insiders.

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.