Skandinaviska Enskilda Banken AB publ Has $112,000 Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Skandinaviska Enskilda Banken AB publ reduced its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 52.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,289 shares of the semiconductor company’s stock after selling 9,151 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in SolarEdge Technologies were worth $112,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. GSA Capital Partners LLP boosted its position in shares of SolarEdge Technologies by 105.9% in the 3rd 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 last quarter. KBC Group NV boosted its position in shares of SolarEdge Technologies by 95.8% in the 3rd 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 last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of SolarEdge Technologies by 683.1% in the 3rd 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 last quarter. Advisors Asset Management Inc. boosted its position in shares of SolarEdge Technologies by 86.5% in the 3rd 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 last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of SolarEdge Technologies by 2.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 186,738 shares of the semiconductor company’s stock worth $4,278,000 after purchasing an additional 5,238 shares during the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SEDG has been the topic of several recent research reports. 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. Citigroup reiterated a “sell” rating and set a $9.00 target price (down from $12.00) on shares of SolarEdge Technologies in a report on Wednesday, January 8th. The Goldman Sachs Group lifted their target price on SolarEdge Technologies from $21.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Canaccord Genuity Group lifted their target price on SolarEdge Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Finally, Barclays lifted their target price on SolarEdge Technologies from $7.00 to $10.00 and gave the stock an “underweight” rating in a report on Tuesday, January 14th. Ten research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SolarEdge Technologies presently has an average rating of “Hold” and a consensus target price of $21.65.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG opened at $16.88 on Wednesday. The business’s 50 day moving average price is $15.29 and its two-hundred day moving average price is $16.17. The company has a market cap of $992.26 million, a PE ratio of -0.54 and a beta of 1.77. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. SolarEdge Technologies, Inc. has a twelve month low of $10.24 and a twelve month high of $73.60.

Insiders Place Their Bets

In other SolarEdge Technologies news, Chairman More Avery purchased 30,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $13.70 per share, with a total value of $411,000.00. Following the completion of the transaction, the chairman now directly owns 274,478 shares in the company, valued at $3,760,348.60. This represents a 12.27 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.67% of the company’s stock.

SolarEdge Technologies 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.