Skandinaviska Enskilda Banken AB publ Sells 9,151 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Skandinaviska Enskilda Banken AB publ lessened its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 52.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,289 shares of the semiconductor company’s stock after selling 9,151 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in SolarEdge Technologies were worth $112,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. KBC Group NV boosted its holdings in shares of SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 1,378 shares during the period. Jones Financial Companies Lllp boosted its stake 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 during the period. Y.D. More Investments Ltd boosted its stake in shares of SolarEdge Technologies by 251.8% in the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 2,770 shares during the period. Meitav Investment House Ltd. boosted its stake in shares of SolarEdge Technologies by 0.6% in the fourth quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company’s stock valued at $7,957,000 after buying an additional 3,282 shares during the period. Finally, Two Sigma Advisers LP boosted its stake in shares of SolarEdge Technologies by 0.3% in the third quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company’s stock valued at $26,166,000 after buying an additional 3,400 shares during the period. Institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Stock Performance

NASDAQ SEDG opened at $16.88 on Wednesday. The company has a market capitalization of $992.26 million, a price-to-earnings ratio of -0.54 and a beta of 1.77. SolarEdge Technologies, Inc. has a twelve month low of $10.24 and a twelve month high of $73.60. The stock has a fifty day simple moving average of $15.29 and a 200 day simple moving average of $16.17. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.

Analysts Set New Price Targets

SEDG has been the subject of several recent research reports. Piper Sandler boosted their price target on SolarEdge Technologies from $9.00 to $10.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Northland Capmk cut SolarEdge Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 20th. Jefferies Financial Group boosted their price target on SolarEdge Technologies from $9.00 to $12.00 and gave the company an “underperform” rating in a research note on Friday, February 21st. Royal Bank of Canada boosted their price target on SolarEdge Technologies from $14.00 to $15.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group boosted their price objective on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Ten investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $21.65.

Insider Activity at SolarEdge Technologies

In related news, Chairman More Avery acquired 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the acquisition, the chairman now directly owns 274,478 shares of the company’s stock, valued at approximately $3,760,348.60. This trade represents a 12.27 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.67% of the stock is currently owned by company 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.