UniSuper Management Pty Ltd Has $5.90 Million Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

UniSuper Management Pty Ltd decreased its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 11.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 434,030 shares of the semiconductor company’s stock after selling 54,800 shares during the period. UniSuper Management Pty Ltd’s holdings in SolarEdge Technologies were worth $5,903,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Millstone Evans Group LLC acquired a new position in SolarEdge Technologies in the fourth quarter worth about $27,000. Jones Financial Companies Lllp raised its holdings in shares of SolarEdge Technologies by 401.2% in the 4th 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 in the last quarter. Y.D. More Investments Ltd raised its holdings in shares of SolarEdge Technologies by 251.8% in the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock worth $53,000 after buying an additional 2,770 shares in the last quarter. R Squared Ltd acquired a new stake in SolarEdge Technologies in the 4th quarter valued at $61,000. Finally, GAMMA Investing LLC grew its position 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 acquiring an additional 4,567 shares during the period. 95.10% of the stock is owned by institutional investors.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery bought 30,000 shares of SolarEdge Technologies stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the acquisition, the chairman now owns 274,478 shares in the company, valued at approximately $3,760,348.60. The trade was a 12.27 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.67% of the company’s stock.

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $15.93 on Friday. The stock has a 50-day moving average of $15.61 and a 200-day moving average of $16.01. SolarEdge Technologies, Inc. has a one year low of $10.24 and a one year high of $73.60. The stock has a market cap of $936.41 million, a PE ratio of -0.51 and a beta of 1.78. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46.

Analysts Set New Price Targets

A number of research analysts have issued reports on SEDG shares. Piper Sandler lifted their price objective on SolarEdge Technologies from $9.00 to $10.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Citigroup restated a “sell” rating and issued a $9.00 price target (down from $12.00) on shares of SolarEdge Technologies in a research report on Wednesday, January 8th. Susquehanna raised their price objective on shares of SolarEdge Technologies from $13.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Northland Capmk downgraded SolarEdge Technologies from a “hold” rating to a “strong sell” rating in a report on Thursday, February 20th. Finally, Royal Bank of Canada raised their price target on SolarEdge Technologies from $14.00 to $15.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.80.

SolarEdge Technologies Company 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.