Driehaus Capital Management LLC lowered its holdings in Solaredge Technologies Inc (NASDAQ:SEDG) by 21.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 358,611 shares of the semiconductor company’s stock after selling 97,802 shares during the period. Driehaus Capital Management LLC owned 0.83% of Solaredge Technologies worth $13,466,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Amundi Pioneer Asset Management Inc. purchased a new stake in Solaredge Technologies during the fourth quarter valued at about $2,669,000. Alliancebernstein L.P. lifted its position in shares of Solaredge Technologies by 20.4% during the 4th quarter. Alliancebernstein L.P. now owns 60,444 shares of the semiconductor company’s stock valued at $2,270,000 after acquiring an additional 10,253 shares during the last quarter. WINTON GROUP Ltd lifted its position in shares of Solaredge Technologies by 103.4% during the 4th quarter. WINTON GROUP Ltd now owns 152,408 shares of the semiconductor company’s stock valued at $5,723,000 after acquiring an additional 77,471 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Solaredge Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 251,642 shares of the semiconductor company’s stock valued at $9,448,000 after acquiring an additional 20,022 shares during the last quarter. Finally, Investec Asset Management LTD lifted its position in shares of Solaredge Technologies by 31.6% during the 4th quarter. Investec Asset Management LTD now owns 56,567 shares of the semiconductor company’s stock valued at $2,124,000 after acquiring an additional 13,570 shares during the last quarter. 65.65% of the stock is owned by institutional investors and hedge funds.
Solaredge Technologies Inc (NASDAQ SEDG) traded up $1.10 during mid-day trading on Wednesday, reaching $55.15. 290,597 shares of the company’s stock were exchanged, compared to its average volume of 814,922. Solaredge Technologies Inc has a one year low of $13.50 and a one year high of $55.50. The company has a market capitalization of $2,370.00 and a PE ratio of 24.56.
Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $179.78 million. research analysts predict that Solaredge Technologies Inc will post 2.45 earnings per share for the current year.
In other Solaredge Technologies news, Director More Avery sold 14,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $47.60, for a total transaction of $666,400.00. Following the completion of the sale, the director now directly owns 602,527 shares in the company, valued at $28,680,285.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Yoav Galin sold 15,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $37.74, for a total transaction of $566,100.00. The disclosure for this sale can be found here. Insiders have sold 420,566 shares of company stock valued at $17,457,083 over the last 90 days. Corporate insiders own 16.40% of the company’s stock.
A number of analysts have recently issued reports on SEDG shares. ValuEngine upgraded Solaredge Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. BidaskClub lowered Solaredge Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Roth Capital set a $60.00 price target on shares of Solaredge Technologies and gave the stock a “buy” rating in a research note on Thursday, February 15th. Cowen set a $53.00 price target on shares of Solaredge Technologies and gave the stock a “buy” rating in a research note on Thursday, February 15th. Finally, Vertical Research raised shares of Solaredge Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $43.12.
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About Solaredge Technologies
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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