Allianz SE Invests $411,000 in First Solar, Inc. (NASDAQ:FSLR)

Allianz SE acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,334 shares of the solar cell manufacturer’s stock, valued at approximately $411,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in FSLR. Smartleaf Asset Management LLC grew its position in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares during the last quarter. Crews Bank & Trust acquired a new position in shares of First Solar during the 4th quarter worth $53,000. Hudson Edge Investment Partners Inc. purchased a new stake in First Solar in the 4th quarter valued at approximately $53,000. CoreFirst Bank & Trust purchased a new stake in shares of First Solar during the fourth quarter worth about $54,000. Finally, Financial Avengers Inc. acquired a new position in First Solar in the 3rd quarter valued at $77,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Buying and Selling at First Solar

In related news, insider Kuntal Kumar Verma sold 7,475 shares of First Solar stock in a transaction on Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the transaction, the insider now directly owns 3,549 shares in the company, valued at approximately $484,793.40. The trade was a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Markus Gloeckler sold 380 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $50,825.00. Following the sale, the chief technology officer now owns 17,594 shares of the company’s stock, valued at $2,353,197.50. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FSLR shares. Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Barclays cut their target price on First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Truist Financial reissued a “buy” rating and issued a $285.00 price objective (down from $300.00) on shares of First Solar in a report on Wednesday, February 26th. Guggenheim reduced their price target on shares of First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Bank of America dropped their price objective on shares of First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $262.08.

First Solar Stock Up 0.6 %

Shares of NASDAQ:FSLR opened at $127.32 on Monday. First Solar, Inc. has a 12-month low of $124.32 and a 12-month high of $306.77. The business’s 50 day moving average is $150.28 and its 200 day moving average is $184.79. The stock has a market cap of $13.63 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 0.19 and a beta of 1.52. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. On average, sell-side analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.