Solaredge Technologies Inc (NASDAQ:SEDG) Director Doron Inbar sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $53.26, for a total value of $1,065,200.00. Following the completion of the transaction, the director now directly owns 173,333 shares of the company’s stock, valued at $9,231,715.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Solaredge Technologies Inc (NASDAQ SEDG) traded up $0.65 during midday trading on Wednesday, reaching $54.70. The company’s stock had a trading volume of 672,583 shares, compared to its average volume of 909,838. Solaredge Technologies Inc has a 1-year low of $13.50 and a 1-year high of $55.55. The company has a market capitalization of $2,350.00 and a price-to-earnings ratio of 24.31.
Solaredge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.29. Solaredge Technologies had a return on equity of 29.21% and a net margin of 13.87%. The business had revenue of $189.34 million during the quarter, compared to analyst estimates of $179.78 million. research analysts anticipate that Solaredge Technologies Inc will post 2.45 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Handelsbanken Fonder AB grew its holdings in Solaredge Technologies by 15.8% during the fourth quarter. Handelsbanken Fonder AB now owns 241,757 shares of the semiconductor company’s stock valued at $9,078,000 after purchasing an additional 33,060 shares during the period. Meitav Dash Investments Ltd. bought a new position in Solaredge Technologies during the fourth quarter valued at $15,512,000. Flinton Capital Management LLC bought a new position in Solaredge Technologies during the fourth quarter valued at $231,000. Meadow Creek Investment Management LLC bought a new position in Solaredge Technologies during the fourth quarter valued at $109,000. Finally, Elkfork Partners LLC bought a new position in Solaredge Technologies during the fourth quarter valued at $190,000. 65.65% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the company. Canaccord Genuity upped their target price on Solaredge Technologies from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday, February 26th. BidaskClub raised Solaredge Technologies from a “hold” rating to a “buy” rating in a report on Thursday, February 22nd. Zacks Investment Research raised Solaredge Technologies from a “hold” rating to a “strong-buy” rating and set a $53.00 target price for the company in a report on Tuesday, February 20th. Oppenheimer upped their target price on Solaredge Technologies from $38.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, Deutsche Bank lowered Solaredge Technologies from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a report on Monday, November 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $43.12.
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About Solaredge Technologies
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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