XTX Topco Ltd Purchases Shares of 25,704 SolarEdge Technologies, Inc. (NASDAQ:SEDG)

XTX Topco Ltd acquired a new position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 25,704 shares of the semiconductor company's stock, valued at approximately $350,000.

Several other hedge funds have also recently made changes to their positions in SEDG. Renaissance Technologies LLC boosted its position in SolarEdge Technologies by 79.6% during the 4th quarter. Renaissance Technologies LLC now owns 627,700 shares of the semiconductor company's stock valued at $8,537,000 after acquiring an additional 278,200 shares in the last quarter. Legal & General Group Plc boosted its position in shares of SolarEdge Technologies by 67.6% during the fourth quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company's stock valued at $17,262,000 after purchasing an additional 512,035 shares in the last quarter. Invesco Ltd. grew its stake in SolarEdge Technologies by 5.0% in the fourth quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company's stock worth $33,254,000 after purchasing an additional 116,809 shares during the period. Aristides Capital LLC bought a new position in SolarEdge Technologies in the fourth quarter worth $223,000. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its position in SolarEdge Technologies by 14.9% during the fourth 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 during the period. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Price Performance

SEDG stock traded down $0.15 during midday trading on Tuesday, hitting $12.55. The company's stock had a trading volume of 433,365 shares, compared to its average volume of 4,232,768. 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 $740.69 million, a price-to-earnings ratio of -0.40 and a beta of 1.63. The company has a 50 day moving average of $15.20 and a two-hundred day moving average of $14.83. SolarEdge Technologies, Inc. has a 12 month low of $10.24 and a 12 month high of $64.04.

Insiders Place Their Bets

In other SolarEdge Technologies news, Chairman More Avery bought 30,000 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $13.70 per share, for a total transaction 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 approximately $3,760,348.60. This represents a 12.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SEDG shares. Northland Capmk raised shares of SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a research report on Friday. Guggenheim reaffirmed a "sell" rating and set a $5.00 target price on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Barclays boosted their price target on SolarEdge Technologies from $10.00 to $11.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 16th. Wells Fargo & Company reduced their price objective on SolarEdge Technologies from $20.00 to $19.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Finally, Piper Sandler boosted their target price on SolarEdge Technologies from $9.00 to $10.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $16.82.

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.