Allianz Asset Management GmbH purchased a new stake in shares of Solaredge Technologies Inc (NASDAQ:SEDG) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 21,570 shares of the semiconductor company’s stock, valued at approximately $616,000. Allianz Asset Management GmbH owned approximately 0.05% of Solaredge Technologies at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Senvest Management LLC boosted its position in shares of Solaredge Technologies by 2.8% during the second quarter. Senvest Management LLC now owns 3,751,178 shares of the semiconductor company’s stock valued at $75,024,000 after buying an additional 103,000 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Solaredge Technologies by 16.6% in the third quarter. Bank of New York Mellon Corp now owns 1,781,003 shares of the semiconductor company’s stock worth $50,849,000 after purchasing an additional 254,056 shares during the last quarter. Ion Asset Management Ltd. purchased a new position in Solaredge Technologies in the second quarter worth about $20,180,000. Janus Henderson Group PLC boosted its position in Solaredge Technologies by 435.7% in the second quarter. Janus Henderson Group PLC now owns 946,920 shares of the semiconductor company’s stock worth $18,932,000 after purchasing an additional 770,166 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Solaredge Technologies by 4.3% in the second quarter. Vanguard Group Inc. now owns 460,446 shares of the semiconductor company’s stock worth $9,209,000 after purchasing an additional 18,861 shares during the last quarter. Hedge funds and other institutional investors own 67.53% of the company’s stock.
Several research analysts have issued reports on SEDG shares. Zacks Investment Research cut Solaredge Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. B. Riley raised Solaredge Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $18.00 to $45.00 in a research report on Thursday, November 9th. Roth Capital set a $30.00 price objective on Solaredge Technologies and gave the stock a “buy” rating in a research note on Sunday, October 15th. JPMorgan Chase & Co. raised their price objective on Solaredge Technologies to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, November 9th. Finally, Vertical Group started coverage on Solaredge Technologies in a research note on Thursday. They issued a “sell” rating on the stock. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $34.19.
Shares of Solaredge Technologies Inc (NASDAQ SEDG) opened at $36.30 on Friday. Solaredge Technologies Inc has a 12 month low of $12.25 and a 12 month high of $39.90. The stock has a market capitalization of $1,560.00 and a P/E ratio of 21.87.
In other news, VP Yoav Galin sold 15,000 shares of Solaredge Technologies stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $37.74, for a total value of $566,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ronen Faier sold 33,032 shares of Solaredge Technologies stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $39.02, for a total value of $1,288,908.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 166,320 shares of company stock worth $6,139,399. Corporate insiders own 16.40% of the company’s stock.
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Solaredge Technologies Profile
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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