J. Safra Sarasin Holding AG Sells 20,470 Shares of First Solar, Inc. (NASDAQ:FSLR)

Key Points

• J. Safra Sarasin Holding AG has reduced its stake in First Solar, Inc. by 31.6%, now owning 44,241 shares worth approximately $5.59 million.
• Insider sales of First Solar shares have occurred recently, with CTO Markus Gloeckler selling 9,557 shares for about $1.48 million, reflecting significant decreases in ownership.
• First Solar's stock has seen a 5.3% increase, with recent quarterly earnings of $3.18 EPS surpassing analysts' expectations and revenue up 8.6% year-over-year.

J. Safra Sarasin Holding AG reduced its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 31.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,241 shares of the solar cell manufacturer's stock after selling 20,470 shares during the quarter. J. Safra Sarasin Holding AG's holdings in First Solar were worth $5,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Demars Financial Group LLC grew its holdings in shares of First Solar by 17,404.5% during the 4th quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer's stock valued at $127,379,000 after purchasing an additional 718,631 shares during the last quarter. Royal Bank of Canada grew its stake in shares of First Solar by 218.6% during the fourth quarter. Royal Bank of Canada now owns 446,799 shares of the solar cell manufacturer's stock valued at $78,744,000 after buying an additional 306,581 shares during the last quarter. Northern Trust Corp increased its holdings in shares of First Solar by 30.7% in the fourth quarter. Northern Trust Corp now owns 1,248,552 shares of the solar cell manufacturer's stock worth $220,045,000 after buying an additional 293,134 shares during the period. Encompass Capital Advisors LLC boosted its holdings in First Solar by 445.5% during the 4th quarter. Encompass Capital Advisors LLC now owns 329,718 shares of the solar cell manufacturer's stock valued at $58,110,000 after acquiring an additional 269,273 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in First Solar by 26.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,249,600 shares of the solar cell manufacturer's stock worth $220,250,000 after purchasing an additional 261,480 shares during the period. 92.08% of the stock is currently owned by institutional investors.

Insider Activity

In other First Solar news, insider Michael Koralewski sold 2,951 shares of First Solar stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $158.21, for a total transaction of $466,877.71. Following the completion of the transaction, the insider directly owned 11,369 shares of the company's stock, valued at $1,798,689.49. The trade was a 20.61% decrease in their ownership of the stock. 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 stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the completion of the sale, the chief technology officer directly owned 8,037 shares in the company, valued at approximately $1,246,136.85. This represents a 54.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,976 shares of company stock worth $2,515,172. 0.48% of the stock is currently owned by corporate insiders.

First Solar Price Performance

Shares of FSLR traded up $3.43 during midday trading on Thursday, hitting $188.44. 861,148 shares of the company traded hands, compared to its average volume of 3,826,939. The stock has a market cap of $20.21 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 0.37 and a beta of 1.48. The firm has a 50 day moving average of $167.51 and a 200-day moving average of $153.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.50. First Solar had a return on equity of 15.57% and a net margin of 28.95%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company posted $3.25 EPS. The company's revenue was up 8.6% compared to the same quarter last year. On average, analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Hsbc Global Res upgraded shares of First Solar to a "strong-buy" rating in a report on Friday, August 1st. Wolfe Research upgraded First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price target on the stock in a report on Tuesday, May 13th. UBS Group reiterated a "buy" rating and issued a $275.00 price objective (up previously from $255.00) on shares of First Solar in a report on Tuesday. JPMorgan Chase & Co. boosted their target price on First Solar from $200.00 to $208.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Finally, KeyCorp lowered First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price target for the company. in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $222.67.

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.