Vanguard Group Inc. Has $39.46 Million Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Vanguard Group Inc. lessened its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 9.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,901,772 shares of the semiconductor company's stock after selling 286,372 shares during the period. Vanguard Group Inc. owned about 5.01% of SolarEdge Technologies worth $39,464,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Jones Financial Companies Lllp boosted its holdings in shares of SolarEdge Technologies by 401.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after buying an additional 1,954 shares during the period. Millstone Evans Group LLC acquired a new stake in SolarEdge Technologies during the 4th quarter valued at $27,000. Y.D. More Investments Ltd raised its position in SolarEdge Technologies by 251.8% during the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company's stock valued at $53,000 after buying an additional 2,770 shares during the period. Meitav Investment House Ltd. raised its position in SolarEdge Technologies by 0.6% during the fourth quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company's stock valued at $7,957,000 after acquiring an additional 3,282 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in SolarEdge Technologies in the fourth quarter valued at approximately $61,000. 95.10% of the stock is owned by institutional investors and hedge funds.

SolarEdge Technologies Stock Down 0.7 %

Shares of NASDAQ SEDG traded down $0.09 during midday trading on Thursday, reaching $12.40. The company's stock had a trading volume of 278,937 shares, compared to its average volume of 4,179,958. The stock has a 50 day simple moving average of $15.72 and a 200-day simple moving average of $15.33. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $729.09 million, a price-to-earnings ratio of -0.40 and a beta of 1.63. SolarEdge Technologies, Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $64.04.

Insider Activity at SolarEdge Technologies

In related news, Chairman More Avery acquired 30,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $13.70 per share, with a total value of $411,000.00. Following the acquisition, the chairman now owns 274,478 shares in the company, valued at $3,760,348.60. This represents a 12.27 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.67% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced 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. Northland Capmk downgraded SolarEdge Technologies from a "hold" rating to a "strong sell" rating in a research note on Thursday, February 20th. Morgan Stanley upgraded SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $11.00 to $18.00 in a report on Thursday, February 20th. UBS Group upped their price objective on shares of SolarEdge Technologies from $18.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Finally, Barclays raised their price target on SolarEdge Technologies from $10.00 to $11.00 and gave the company an "underweight" rating in a research report on Wednesday. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $21.53.

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.