SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Purchased by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. boosted its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 10.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 984,901 shares of the semiconductor company's stock after buying an additional 89,279 shares during the period. SolarEdge Technologies accounts for approximately 1.6% of Harel Insurance Investments & Financial Services Ltd.'s holdings, making the stock its 20th biggest position. Harel Insurance Investments & Financial Services Ltd. owned about 1.73% of SolarEdge Technologies worth $92,210,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of SEDG. Baillie Gifford & Co. increased its stake in SolarEdge Technologies by 89.3% in the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company's stock worth $229,298,000 after buying an additional 835,290 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of SolarEdge Technologies by 108.5% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company's stock valued at $193,626,000 after purchasing an additional 778,034 shares in the last quarter. Norges Bank purchased a new position in shares of SolarEdge Technologies during the fourth quarter valued at about $115,423,000. Price T Rowe Associates Inc. MD grew its position in shares of SolarEdge Technologies by 432.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 395,823 shares of the semiconductor company's stock valued at $120,311,000 after purchasing an additional 321,509 shares in the last quarter. Finally, Impax Asset Management Group plc grew its position in SolarEdge Technologies by 46.3% in the third quarter. Impax Asset Management Group plc now owns 939,386 shares of the semiconductor company's stock worth $121,067,000 after acquiring an additional 297,089 shares in the last quarter. Hedge funds and other institutional investors own 95.10% of the company's stock.

Insider Buying and Selling

In related news, Director More Avery purchased 7,000 shares of SolarEdge Technologies stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the transaction, the director now directly owns 77,446 shares in the company, valued at $5,246,966.50. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SEDG shares. Scotiabank dropped their price target on SolarEdge Technologies from $93.00 to $90.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 21st. Barclays reiterated an "underweight" rating and issued a $50.00 price target (down previously from $74.00) on shares of SolarEdge Technologies in a research report on Wednesday, January 17th. The Goldman Sachs Group dropped their price target on SolarEdge Technologies from $83.00 to $71.00 and set a "sell" rating for the company in a research report on Wednesday, January 24th. B. Riley decreased their price objective on shares of SolarEdge Technologies from $166.00 to $133.00 and set a "buy" rating for the company in a research note on Monday, February 5th. Finally, Piper Sandler decreased their price objective on shares of SolarEdge Technologies from $105.00 to $77.00 and set a "neutral" rating for the company in a research note on Wednesday, February 21st. Four equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $99.84.

SolarEdge Technologies Stock Down 7.0 %

NASDAQ SEDG traded down $4.91 on Friday, hitting $65.35. The stock had a trading volume of 1,979,104 shares, compared to its average volume of 1,671,423. The business's fifty day moving average price is $70.79 and its 200 day moving average price is $81.57. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. SolarEdge Technologies, Inc. has a 52-week low of $60.44 and a 52-week high of $322.19. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 145.22 and a beta of 1.51.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, topping the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The firm had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. Equities research analysts anticipate that SolarEdge Technologies, Inc. will post -4.04 earnings per share for the current year.

SolarEdge Technologies 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.