Envestnet Portfolio Solutions Inc. Reduces Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Envestnet Portfolio Solutions Inc. decreased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 34.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,022 shares of the solar cell manufacturer’s stock after selling 1,045 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in First Solar were worth $356,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FSLR. Clear Harbor Asset Management LLC grew its holdings in First Solar by 0.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock valued at $1,623,000 after purchasing an additional 55 shares during the last quarter. Doliver Advisors LP grew its stake in First Solar by 1.2% in the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock valued at $831,000 after acquiring an additional 56 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings 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 valued at $47,000 after acquiring an additional 63 shares in the last quarter. Independent Advisor Alliance raised its position in First Solar by 3.1% during the fourth quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock worth $368,000 after acquiring an additional 63 shares during the last quarter. Finally, Mutual Advisors LLC lifted its holdings in shares of First Solar by 5.3% in the fourth quarter. Mutual Advisors LLC now owns 1,463 shares of the solar cell manufacturer’s stock valued at $279,000 after purchasing an additional 73 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insiders Place Their Bets

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the completion of the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at $484,793.40. The trade was a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the transaction, the chief executive officer now directly owns 103,403 shares in the company, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock worth $4,767,158 in the last three months. 0.58% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on FSLR shares. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Barclays dropped their price objective on First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. UBS Group reduced their target price on shares of First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $262.08.

First Solar Stock Down 3.9 %

Shares of NASDAQ:FSLR opened at $126.34 on Thursday. The company has a 50 day moving average of $152.88 and a two-hundred day moving average of $186.29. First Solar, Inc. has a 52-week low of $124.53 and a 52-week high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $13.53 billion, a price-to-earnings ratio of 10.88, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

First Solar 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.