Pinebridge Investments L.P. Reduces Stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Pinebridge Investments L.P. reduced its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 65.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,208 shares of the semiconductor company's stock after selling 202,832 shares during the quarter. Pinebridge Investments L.P. owned approximately 0.19% of SolarEdge Technologies worth $1,485,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SEDG. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of SolarEdge Technologies by 14.9% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock valued at $67,370,000 after buying an additional 641,915 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of SolarEdge Technologies by 182.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock valued at $11,888,000 after purchasing an additional 564,490 shares in the last quarter. Legal & General Group Plc raised its holdings in SolarEdge Technologies by 67.6% in the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company's stock worth $17,262,000 after purchasing an additional 512,035 shares during the period. Renaissance Technologies LLC boosted its position in SolarEdge Technologies by 79.6% during the fourth quarter. Renaissance Technologies LLC now owns 627,700 shares of the semiconductor company's stock worth $8,537,000 after purchasing an additional 278,200 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in SolarEdge Technologies by 38.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,928 shares of the semiconductor company's stock valued at $7,085,000 after purchasing an additional 144,733 shares during the period. Institutional investors own 95.10% of the company's stock.

Insider Buying and Selling at SolarEdge Technologies

In other news, Chairman More Avery purchased 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the purchase, the chairman now directly owns 274,478 shares of the company's stock, valued at $3,760,348.60. The trade was a 12.27 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.67% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SEDG. Truist Financial reduced their price objective on shares of SolarEdge Technologies from $15.00 to $14.00 and set a "hold" rating for the company in a research report on Thursday, January 16th. Barclays raised their price target on shares of SolarEdge Technologies from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Wednesday, April 16th. Morgan Stanley reissued an "underweight" rating and set a $10.00 target price on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. Susquehanna lowered their price target on SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. reduced their price objective on SolarEdge Technologies from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, SolarEdge Technologies presently has a consensus rating of "Hold" and a consensus target price of $16.82.

SolarEdge Technologies Stock Up 2.5 %

Shares of NASDAQ SEDG traded up $0.31 during midday trading on Thursday, hitting $12.54. The company's stock had a trading volume of 2,946,662 shares, compared to its average volume of 4,250,578. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. The firm has a market capitalization of $740.40 million, a price-to-earnings ratio of -0.40 and a beta of 1.63. The business's fifty day simple moving average is $14.99 and its two-hundred day simple moving average is $14.80. SolarEdge Technologies, Inc. has a 1 year low of $10.24 and a 1 year high of $64.04.

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.