First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Greenleaf Trust

Greenleaf Trust decreased its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 28.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,889 shares of the solar cell manufacturer's stock after selling 1,924 shares during the period. Greenleaf Trust's holdings in First Solar were worth $618,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FSLR. Oppenheimer & Co. Inc. raised its position in First Solar by 396.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 11,777 shares of the solar cell manufacturer's stock valued at $1,489,000 after purchasing an additional 9,405 shares in the last quarter. Asset Management One Co. Ltd. raised its position in First Solar by 7.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 48,722 shares of the solar cell manufacturer's stock valued at $6,160,000 after purchasing an additional 3,226 shares in the last quarter. Vontobel Holding Ltd. raised its position in First Solar by 14.2% in the 1st quarter. Vontobel Holding Ltd. now owns 189,320 shares of the solar cell manufacturer's stock valued at $23,936,000 after purchasing an additional 23,528 shares in the last quarter. Oakworth Capital Inc. raised its position in First Solar by 24.7% in the 1st quarter. Oakworth Capital Inc. now owns 9,682 shares of the solar cell manufacturer's stock valued at $1,224,000 after purchasing an additional 1,916 shares in the last quarter. Finally, Ethic Inc. raised its position in First Solar by 34.2% in the 4th quarter. Ethic Inc. now owns 17,807 shares of the solar cell manufacturer's stock valued at $3,138,000 after purchasing an additional 4,542 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Stock Performance

First Solar stock traded down $2.65 during mid-day trading on Friday, reaching $162.44. 2,136,077 shares of the company were exchanged, compared to its average volume of 3,259,446. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $262.72. The firm's 50-day simple moving average is $160.16 and its two-hundred day simple moving average is $154.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.39 and a current ratio of 1.93. The firm has a market cap of $17.42 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 0.33 and a beta of 1.52.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). First Solar had a return on equity of 16.32% and a net margin of 29.72%. The company had revenue of $844.57 million for the quarter, compared to analyst estimates of $863.11 million. During the same period in the previous year, the business posted $2.20 earnings per share. The firm's revenue was up 6.4% compared to the same quarter last year. Equities analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FSLR shares. Piper Sandler reduced their price target on First Solar from $230.00 to $205.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. The Goldman Sachs Group increased their price target on First Solar from $204.00 to $255.00 and gave the company a "buy" rating in a research report on Monday, May 19th. UBS Group reaffirmed a "positive" rating on shares of First Solar in a research report on Tuesday. Royal Bank Of Canada increased their price objective on First Solar from $188.00 to $200.00 and gave the company an "outperform" rating in a report on Tuesday, July 1st. Finally, BMO Capital Markets dropped their price objective on First Solar from $200.00 to $187.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $228.69.

Insiders Place Their Bets

In other news, insider Patrick James Buehler sold 1,600 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total value of $288,000.00. Following the completion of the sale, the insider directly owned 4,398 shares of the company's stock, valued at $791,640. This trade represents a 26.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Markus Gloeckler sold 9,557 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total value of $1,481,812.85. Following the completion of the sale, the chief technology officer directly owned 8,037 shares of the company's stock, valued at $1,246,136.85. This represents a 54.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,976 shares of company stock valued at $2,515,172. 0.48% of the stock is owned by company insiders.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.