Janus Henderson Group PLC reduced its stake in Solaredge Technologies Inc (NASDAQ:SEDG) by 89.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,627 shares of the semiconductor company’s stock after selling 844,293 shares during the period. Janus Henderson Group PLC owned about 0.24% of Solaredge Technologies worth $2,928,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of SEDG. Bank of New York Mellon Corp boosted its stake in shares of Solaredge Technologies by 601.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,526,947 shares of the semiconductor company’s stock valued at $30,539,000 after purchasing an additional 1,309,184 shares in the last quarter. Ion Asset Management Ltd. acquired a new stake in shares of Solaredge Technologies in the 2nd quarter valued at approximately $20,180,000. Koch Industries Inc. bought a new position in Solaredge Technologies in the 2nd quarter valued at approximately $265,000. Principal Financial Group Inc. bought a new position in Solaredge Technologies in the 3rd quarter valued at approximately $7,611,000. Finally, DSAM Partners London Ltd bought a new position in Solaredge Technologies in the 3rd quarter valued at approximately $5,984,000. Institutional investors own 67.53% of the company’s stock.
A number of brokerages recently issued reports on SEDG. Deutsche Bank lowered shares of Solaredge Technologies from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a report on Monday, November 27th. Zacks Investment Research upgraded shares of Solaredge Technologies from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective for the company in a report on Tuesday, November 14th. Vertical Group began coverage on shares of Solaredge Technologies in a report on Thursday. They issued a “sell” rating for the company. BidaskClub lowered shares of Solaredge Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $36.00 price objective (up previously from $30.00) on shares of Solaredge Technologies in a report on Monday, November 6th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Solaredge Technologies presently has an average rating of “Buy” and a consensus target price of $34.19.
In other Solaredge Technologies news, CFO Ronen Faier sold 33,032 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $39.02, for a total transaction of $1,288,908.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Zvi Lando sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $30.36, for a total transaction of $303,600.00. Following the transaction, the vice president now owns 48,333 shares of the company’s stock, valued at approximately $1,467,389.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 166,320 shares of company stock valued at $6,139,399. Company insiders own 16.40% of the company’s stock.
Solaredge Technologies Inc (NASDAQ SEDG) opened at $36.30 on Friday. Solaredge Technologies Inc has a fifty-two week low of $12.25 and a fifty-two week high of $39.90. The stock has a market cap of $1,560.00 and a P/E ratio of 21.87.
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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