Amundi Sells 45,600 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Amundi decreased its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 30.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 102,820 shares of the semiconductor company’s stock after selling 45,600 shares during the quarter. Amundi’s holdings in SolarEdge Technologies were worth $1,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP increased its position in shares of SolarEdge Technologies by 105.9% in the third quarter. GSA Capital Partners LLP now owns 28,196 shares of the semiconductor company’s stock worth $646,000 after purchasing an additional 14,503 shares during the period. KBC Group NV increased its position in shares of SolarEdge Technologies by 95.8% in the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,378 shares during the period. AMG National Trust Bank bought a new position in shares of SolarEdge Technologies in the third quarter worth $4,055,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of SolarEdge Technologies by 683.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock worth $5,786,000 after purchasing an additional 220,304 shares during the period. Finally, Advisors Asset Management Inc. increased its position in shares of SolarEdge Technologies by 86.5% in the third quarter. Advisors Asset Management Inc. now owns 15,307 shares of the semiconductor company’s stock worth $351,000 after purchasing an additional 7,099 shares during the period. Institutional investors own 95.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Piper Sandler raised their price target on SolarEdge Technologies from $9.00 to $10.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. The Goldman Sachs Group raised their price objective on SolarEdge Technologies from $21.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Guggenheim raised SolarEdge Technologies from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Wells Fargo & Company reduced their price objective on SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Finally, Susquehanna raised their price objective on SolarEdge Technologies from $13.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Ten equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $21.65.

Insiders Place Their Bets

In other SolarEdge Technologies news, Chairman More Avery bought 30,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the acquisition, the chairman now owns 274,478 shares in the company, valued at $3,760,348.60. This trade represents a 12.27 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.67% of the stock is currently owned by corporate insiders.

SolarEdge Technologies Trading Up 7.8 %

Shares of SEDG stock opened at $17.38 on Tuesday. The company has a market cap of $1.02 billion, a P/E ratio of -0.56 and a beta of 1.78. The stock has a 50 day simple moving average of $15.31 and a two-hundred day simple moving average of $16.22. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. SolarEdge Technologies, Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $73.60.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.