Triodos Investment Management BV Decreases Position in Solaredge Technologies Inc (NASDAQ:SEDG)

Triodos Investment Management BV lessened its holdings in Solaredge Technologies Inc (NASDAQ:SEDG) by 28.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 150,000 shares of the semiconductor company’s stock after selling 60,000 shares during the period. Solaredge Technologies makes up approximately 2.2% of Triodos Investment Management BV’s portfolio, making the stock its 18th largest position. Triodos Investment Management BV owned 0.32% of Solaredge Technologies worth $9,369,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SEDG. Swedbank purchased a new position in Solaredge Technologies in the 2nd quarter valued at approximately $124,959,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Solaredge Technologies by 68,329.3% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,026,439 shares of the semiconductor company’s stock valued at $64,111,000 after purchasing an additional 1,024,939 shares in the last quarter. Norges Bank acquired a new stake in shares of Solaredge Technologies in the 4th quarter valued at $13,951,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Solaredge Technologies by 10,941.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 391,547 shares of the semiconductor company’s stock valued at $24,456,000 after purchasing an additional 388,001 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Solaredge Technologies by 24.2% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,679,446 shares of the semiconductor company’s stock valued at $63,282,000 after purchasing an additional 326,831 shares in the last quarter. 82.46% of the stock is owned by institutional investors.

In related news, Director More Avery sold 5,000 shares of Solaredge Technologies stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $55.10, for a total transaction of $275,500.00. Following the sale, the director now directly owns 588,291 shares in the company, valued at approximately $32,414,834.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 9,439 shares of company stock worth $502,641 over the last quarter. 7.90% of the stock is owned by company insiders.

NASDAQ:SEDG traded up $1.51 during midday trading on Friday, hitting $82.33. 1,472,457 shares of the company were exchanged, compared to its average volume of 834,438. The stock has a fifty day moving average of $63.65. Solaredge Technologies Inc has a fifty-two week low of $32.42 and a fifty-two week high of $84.61. The company has a quick ratio of 2.28, a current ratio of 2.49 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $3.82 billion, a P/E ratio of 30.61, a PEG ratio of 1.46 and a beta of 0.15.

Solaredge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.01. Solaredge Technologies had a net margin of 10.09% and a return on equity of 17.81%. The firm had revenue of $325.00 million for the quarter, compared to analyst estimates of $315.53 million. During the same period last year, the business earned $0.82 EPS. Solaredge Technologies’s revenue for the quarter was up 43.1% compared to the same quarter last year. On average, equities analysts anticipate that Solaredge Technologies Inc will post 2.63 earnings per share for the current fiscal year.

SEDG has been the topic of a number of analyst reports. Roth Capital raised their price objective on shares of Solaredge Technologies from $70.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday. Credit Suisse Group raised their price objective on shares of Solaredge Technologies from $43.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Canaccord Genuity raised their price objective on shares of Solaredge Technologies from $62.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Goldman Sachs Group upgraded shares of Solaredge Technologies from a “sell” rating to a “neutral” rating and raised their price objective for the company from $35.00 to $52.00 in a report on Monday, June 17th. Finally, Northland Securities restated a “buy” rating and issued a $88.00 price objective on shares of Solaredge Technologies in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $73.54.

About Solaredge Technologies

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.

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Institutional Ownership by Quarter for Solaredge Technologies (NASDAQ:SEDG)

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