SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. cut its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 83.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,526 shares of the semiconductor company's stock after selling 304,608 shares during the quarter. Vontobel Holding Ltd. owned 0.10% of SolarEdge Technologies worth $5,478,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SEDG. Panagora Asset Management Inc. increased its stake in shares of SolarEdge Technologies by 28.3% in the 1st quarter. Panagora Asset Management Inc. now owns 2,254 shares of the semiconductor company's stock valued at $727,000 after acquiring an additional 497 shares during the last quarter. Rhumbline Advisers increased its stake in shares of SolarEdge Technologies by 2.7% in the 1st quarter. Rhumbline Advisers now owns 44,407 shares of the semiconductor company's stock valued at $14,315,000 after acquiring an additional 1,174 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of SolarEdge Technologies by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,027 shares of the semiconductor company's stock valued at $2,265,000 after purchasing an additional 435 shares during the period. Cibc World Market Inc. grew its position in shares of SolarEdge Technologies by 28.5% in the 1st quarter. Cibc World Market Inc. now owns 4,844 shares of the semiconductor company's stock valued at $1,562,000 after purchasing an additional 1,073 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of SolarEdge Technologies by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 210,973 shares of the semiconductor company's stock valued at $68,007,000 after purchasing an additional 1,902 shares during the period. 95.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SEDG has been the subject of several research analyst reports. Barclays boosted their price objective on SolarEdge Technologies from $50.00 to $61.00 and gave the company an "underweight" rating in a research report on Tuesday. Wells Fargo & Company decreased their price objective on SolarEdge Technologies from $91.00 to $81.00 and set an "equal weight" rating for the company in a research report on Thursday, February 22nd. Royal Bank of Canada decreased their price objective on SolarEdge Technologies from $85.00 to $77.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 21st. The Goldman Sachs Group decreased their price objective 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. Finally, StockNews.com raised SolarEdge Technologies to a "sell" rating in a research report on Thursday, December 28th. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $98.81.

Insiders Place Their Bets

In other news, Director More Avery acquired 7,000 shares of the stock in a transaction on Thursday, February 29th. The shares were 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 of the company's stock, valued at $5,246,966.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.17% of the company's stock.

SolarEdge Technologies Stock Performance

SEDG traded down $2.35 during trading hours on Thursday, reaching $57.39. The company's stock had a trading volume of 1,985,932 shares, compared to its average volume of 2,403,173. SolarEdge Technologies, Inc. has a 52 week low of $57.06 and a 52 week high of $321.61. The company's 50-day moving average is $69.84 and its 200-day moving average is $80.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.08 and a current ratio of 3.70. The firm has a market cap of $3.28 billion, a PE ratio of 127.53 and a beta of 1.51.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $316.04 million for the quarter, compared to analysts' expectations of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. On average, equities analysts forecast that SolarEdge Technologies, Inc. will post -4.04 EPS 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.