SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by Soros Fund Management LLC

Soros Fund Management LLC reduced its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 85.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,200 shares of the semiconductor company's stock after selling 196,840 shares during the period. Soros Fund Management LLC owned approximately 0.06% of SolarEdge Technologies worth $465,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Ion Asset Management Ltd. purchased a new stake in SolarEdge Technologies during the fourth quarter worth $12,005,000. Grantham Mayo Van Otterloo & Co. LLC grew its stake in 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 acquiring an additional 641,915 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in 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 acquiring an additional 564,490 shares during the last quarter. Legal & General Group Plc increased its holdings in SolarEdge Technologies by 67.6% during the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company's stock valued at $17,262,000 after acquiring an additional 512,035 shares in the last quarter. Finally, Renaissance Technologies LLC raised 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 acquiring an additional 278,200 shares during the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

SolarEdge Technologies Stock Up 4.5 %

Shares of SEDG traded up $0.56 during mid-day trading on Friday, reaching $13.10. 2,690,202 shares of the stock traded hands, compared to its average volume of 4,264,019. The firm has a market cap of $773.46 million, a price-to-earnings ratio of -0.42 and a beta of 1.63. The stock has a fifty day simple moving average of $14.76 and a 200 day simple moving average of $14.72. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. SolarEdge Technologies, Inc. has a 12-month low of $10.24 and a 12-month high of $64.04.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SEDG shares. JPMorgan Chase & Co. dropped their price objective on shares of SolarEdge Technologies from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. BMO Capital Markets downgraded SolarEdge Technologies from a "market perform" rating to an "underperform" rating and raised their price target for the stock from $13.00 to $15.00 in a research report on Thursday, February 20th. Morgan Stanley restated an "underweight" rating and issued a $10.00 price objective on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Guggenheim reiterated a "sell" rating and set a $5.00 price objective on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Finally, Susquehanna reduced their target price on shares of SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $16.82.

Insider Buying and Selling

In other SolarEdge Technologies news, Chairman More Avery acquired 30,000 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were bought at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.67% of the stock is currently owned by insiders.

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.