SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System reduced its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 96.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,329 shares of the semiconductor company’s stock after selling 89,934 shares during the quarter. California State Teachers Retirement System’s holdings in SolarEdge Technologies were worth $920,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Lake Point Wealth Management acquired a new position in SolarEdge Technologies in the second quarter valued at $28,000. BerganKDV Wealth Management LLC acquired a new stake in SolarEdge Technologies during the second quarter worth about $28,000. Optimum Investment Advisors increased its stake in SolarEdge Technologies by 100.0% during the second quarter. Optimum Investment Advisors now owns 200 shares of the semiconductor company’s stock worth $55,000 after acquiring an additional 100 shares during the last quarter. Archer Investment Corp increased its stake in SolarEdge Technologies by 49.4% during the second quarter. Archer Investment Corp now owns 242 shares of the semiconductor company’s stock worth $67,000 after acquiring an additional 80 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in SolarEdge Technologies by 50.3% during the second quarter. O Shaughnessy Asset Management LLC now owns 293 shares of the semiconductor company’s stock worth $81,000 after acquiring an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 73.53% of the company’s stock.

In other news, Director Doron Inbar sold 3,000 shares of the company’s stock in a transaction dated Thursday, November 11th. The shares were sold at an average price of $352.00, for a total transaction of $1,056,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Meir Adest sold 2,662 shares of the company’s stock in a transaction dated Tuesday, August 31st. The stock was sold at an average price of $290.69, for a total transaction of $773,816.78. Following the completion of the sale, the vice president now directly owns 27,560 shares of the company’s stock, valued at approximately $8,011,416.40. The disclosure for this sale can be found here. Insiders have sold 55,174 shares of company stock valued at $18,258,708 in the last 90 days. Insiders own 1.60% of the company’s stock.

SEDG stock opened at $348.49 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.83 and a quick ratio of 3.08. SolarEdge Technologies, Inc. has a 1-year low of $199.33 and a 1-year high of $389.71. The firm has a fifty day moving average price of $313.60 and a two-hundred day moving average price of $279.82. The firm has a market cap of $18.30 billion, a price-to-earnings ratio of 131.01, a PEG ratio of 5.85 and a beta of 1.03.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Tuesday, November 2nd. The semiconductor company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.03). SolarEdge Technologies had a net margin of 8.24% and a return on equity of 12.86%. During the same quarter in the prior year, the business posted $0.83 EPS. As a group, analysts expect that SolarEdge Technologies, Inc. will post 3.46 EPS for the current fiscal year.

Several brokerages have commented on SEDG. Johnson Rice upgraded SolarEdge Technologies from a “hold” rating to an “accumulate” rating and upped their price target for the stock from $290.00 to $325.00 in a research note on Tuesday, August 3rd. Guggenheim lowered SolarEdge Technologies from a “buy” rating to a “neutral” rating and set a $308.00 price target for the company. in a research note on Wednesday, October 20th. Truist upped their price target on SolarEdge Technologies from $340.00 to $395.00 and gave the stock a “buy” rating in a research note on Thursday, November 4th. BMO Capital Markets upped their target price on SolarEdge Technologies from $357.00 to $390.00 and gave the stock an “outperform” rating in a research report on Thursday, November 4th. Finally, Morgan Stanley upped their target price on SolarEdge Technologies from $310.00 to $318.00 and gave the stock an “overweight” rating in a research report on Thursday, August 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $355.00.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc engages in the development of energy technology, which provides inverter solutions. The firm operates through the following segments: Solar and All Other. The Solar segment includes the design, development, manufacturing, and sales of an inverter solution designed to maximize power generation.

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Institutional Ownership by Quarter for SolarEdge Technologies (NASDAQ:SEDG)

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