Wells Fargo & Company MN Sells 38,469 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Wells Fargo & Company MN decreased its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 32.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,392 shares of the semiconductor company’s stock after selling 38,469 shares during the quarter. Wells Fargo & Company MN owned about 0.15% of SolarEdge Technologies worth $21,941,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Lake Point Wealth Management bought a new position in SolarEdge Technologies during the 2nd quarter worth approximately $28,000. BerganKDV Wealth Management LLC bought a new position in SolarEdge Technologies during the 2nd quarter worth approximately $28,000. Optimum Investment Advisors boosted its stake in SolarEdge Technologies by 100.0% during the 2nd 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 raised its holdings in SolarEdge Technologies by 49.4% during the 2nd quarter. Archer Investment Corp now owns 242 shares of the semiconductor company’s stock worth $67,000 after buying an additional 80 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in SolarEdge Technologies by 50.3% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 293 shares of the semiconductor company’s stock worth $81,000 after buying an additional 98 shares during the period. 73.53% of the stock is currently owned by institutional investors and hedge funds.

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. The company has a fifty day moving average price of $313.60 and a two-hundred day moving average price of $279.82. SolarEdge Technologies, Inc. has a one year low of $199.33 and a one year high of $389.71. The stock has a market cap of $18.30 billion, a price-to-earnings ratio of 131.01, a price-to-earnings-growth ratio of 5.85 and a beta of 1.03.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Tuesday, November 2nd. The semiconductor company reported $0.96 EPS for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($0.03). SolarEdge Technologies had a return on equity of 12.86% and a net margin of 8.24%. During the same quarter in the prior year, the firm earned $0.83 EPS. Research analysts anticipate that SolarEdge Technologies, Inc. will post 3.46 EPS for the current fiscal year.

Several brokerages have commented on SEDG. Susquehanna Bancshares raised their target price on shares of SolarEdge Technologies from $350.00 to $400.00 and gave the stock a “positive” rating in a report on Wednesday, November 3rd. Canaccord Genuity raised their target price on shares of SolarEdge Technologies from $280.00 to $345.00 and gave the stock a “hold” rating in a report on Monday, November 8th. Johnson Rice upgraded shares of SolarEdge Technologies from a “hold” rating to an “accumulate” rating and raised their target price for the stock from $290.00 to $325.00 in a report on Tuesday, August 3rd. Piper Sandler raised their target price on shares of SolarEdge Technologies from $342.00 to $351.00 and gave the stock an “overweight” rating in a report on Tuesday, August 3rd. Finally, The Goldman Sachs Group lifted their price objective on shares of SolarEdge Technologies from $322.00 to $368.00 and gave the company a “buy” rating in a report on Tuesday, August 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $355.00.

In related 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 legal filing 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 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. Over the last ninety days, insiders have sold 55,174 shares of company stock valued at $18,258,708. Company insiders own 1.60% of the company’s stock.

SolarEdge Technologies 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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