Russell Investments Group Ltd. acquired a new position in Solaredge Technologies Inc (NASDAQ:SEDG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 30,972 shares of the semiconductor company’s stock, valued at approximately $884,000. Russell Investments Group Ltd. owned about 0.07% of Solaredge Technologies as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of SEDG. Sei Investments Co. boosted its holdings in shares of Solaredge Technologies by 380.4% in the second quarter. Sei Investments Co. now owns 6,005 shares of the semiconductor company’s stock worth $120,000 after acquiring an additional 4,755 shares during the period. Globeflex Capital L P bought a new stake in Solaredge Technologies during the second quarter valued at $157,000. Crossmark Global Holdings Inc. bought a new stake in Solaredge Technologies during the third quarter valued at $280,000. ETF Managers Group LLC bought a new stake in Solaredge Technologies during the second quarter valued at $226,000. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Solaredge Technologies during the third quarter valued at $380,000. 67.53% of the stock is owned by hedge funds and other institutional investors.
Solaredge Technologies Inc (SEDG) opened at $36.30 on Monday. Solaredge Technologies Inc has a 1-year low of $12.25 and a 1-year high of $39.90. The firm has a market cap of $1,560.00 and a price-to-earnings ratio of 21.87.
Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Wednesday, November 8th. The semiconductor company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.45 by $0.16. Solaredge Technologies had a net margin of 14.06% and a return on equity of 22.07%. equities analysts predict that Solaredge Technologies Inc will post 1.91 earnings per share for the current year.
In related news, VP Yoav Galin sold 10,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $32.82, for a total value of $328,200.00. Following the sale, the vice president now directly owns 35,000 shares of the company’s stock, valued at approximately $1,148,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ronen Faier sold 33,032 shares of the stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $39.02, for a total transaction of $1,288,908.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,320 shares of company stock valued at $5,835,799. 16.40% of the stock is owned by insiders.
SEDG has been the topic of a number of research reports. Vertical Group initiated coverage on Solaredge Technologies in a research report on Thursday. They set a “sell” rating on the stock. Zacks Investment Research downgraded Solaredge Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 10th. BidaskClub downgraded Solaredge Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Deutsche Bank downgraded Solaredge Technologies from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a report on Monday, November 27th. Finally, Roth Capital lifted their price objective on Solaredge Technologies from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, November 9th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $34.19.
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Solaredge Technologies Company 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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