Rockefeller Capital Management L.P. Sells 22,654 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Rockefeller Capital Management L.P. decreased its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 26.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,294 shares of the semiconductor company's stock after selling 22,654 shares during the period. Rockefeller Capital Management L.P. owned 0.11% of SolarEdge Technologies worth $852,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in SolarEdge Technologies by 3.7% in the third quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company's stock valued at $16,227,000 after buying an additional 25,474 shares during the period. Tidal Investments LLC lifted its stake in SolarEdge Technologies by 19.7% in the third quarter. Tidal Investments LLC now owns 63,862 shares of the semiconductor company's stock valued at $1,463,000 after buying an additional 10,515 shares during the period. GAMMA Investing LLC lifted its stake in SolarEdge Technologies by 655.2% in the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company's stock valued at $72,000 after buying an additional 4,567 shares during the period. Assenagon Asset Management S.A. lifted its stake in SolarEdge Technologies by 182.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock valued at $11,888,000 after buying an additional 564,490 shares during the period. Finally, SG Americas Securities LLC lifted its stake in SolarEdge Technologies by 592.3% in the fourth quarter. SG Americas Securities LLC now owns 137,736 shares of the semiconductor company's stock valued at $1,873,000 after buying an additional 117,841 shares during the period. Institutional investors own 95.10% of the company's stock.

Insider Activity

In related news, Chairman More Avery acquired 30,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $13.70 per share, with a total value of $411,000.00. Following the completion of the transaction, the chairman now directly owns 274,478 shares of the company's stock, valued at $3,760,348.60. This trade represents a 12.27 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. The Goldman Sachs Group increased their target price on SolarEdge Technologies from $21.00 to $31.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. dropped their price target on SolarEdge Technologies from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, January 23rd. Citigroup reaffirmed a "sell" rating and set a $9.00 price target (down previously from $12.00) on shares of SolarEdge Technologies in a research report on Wednesday, January 8th. Northland Capmk raised SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a research report on Friday. Finally, UBS Group raised their price target on SolarEdge Technologies from $18.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, SolarEdge Technologies currently has a consensus rating of "Hold" and a consensus target price of $16.82.

SolarEdge Technologies Stock Performance

Shares of NASDAQ SEDG traded up $0.13 during midday trading on Monday, hitting $12.69. 3,365,052 shares of the company's stock were exchanged, compared to its average volume of 4,247,779. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $749.26 million, a PE ratio of -0.41 and a beta of 1.63. SolarEdge Technologies, Inc. has a 12 month low of $10.24 and a 12 month high of $64.04. The company's 50 day moving average price is $15.20 and its 200 day moving average price is $14.83.

About SolarEdge Technologies

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.