Amalgamated Bank lowered its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) by 6.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 8,081 shares of the semiconductor company's stock after selling 583 shares during the quarter. Amalgamated Bank's holdings in SolarEdge Technologies were worth $2,605,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Chilton Capital Management LLC bought a new position in shares of SolarEdge Technologies during the 4th quarter valued at about $28,000. Elequin Capital LP bought a new position in shares of SolarEdge Technologies during the 1st quarter valued at about $32,000. First Horizon Advisors Inc. lifted its holdings in shares of SolarEdge Technologies by 274.1% during the 1st quarter. First Horizon Advisors Inc. now owns 101 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of SolarEdge Technologies by 1,140.0% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 124 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 114 shares in the last quarter. Finally, Addison Advisors LLC bought a new position in shares of SolarEdge Technologies during the 1st quarter valued at about $37,000. Institutional investors own 81.86% of the company's stock.

SolarEdge Technologies Stock Performance

SEDG opened at $258.80 on Friday. The business has a fifty day simple moving average of $302.65 and a 200 day simple moving average of $289.66. The company has a market capitalization of $14.33 billion, a PE ratio of 101.09, a price-to-earnings-growth ratio of 2.30 and a beta of 1.24. SolarEdge Technologies, Inc. has a 1 year low of $200.86 and a 1 year high of $389.71. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.96.

Insider Activity at SolarEdge Technologies

In other news, VP Rachel Prishkolnik sold 1,900 shares of the company's stock in a transaction on Monday, June 27th. The stock was sold at an average price of $301.58, for a total transaction of $573,002.00. Following the completion of the sale, the vice president now directly owns 12,581 shares in the company, valued at approximately $3,794,177.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Meir Adest sold 2,300 shares of the company's stock in a transaction on Monday, June 27th. The stock was sold at an average price of $301.58, for a total transaction of $693,634.00. Following the completion of the sale, the insider now directly owns 183,757 shares in the company, valued at approximately $55,417,436.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Rachel Prishkolnik sold 1,900 shares of the company's stock in a transaction on Monday, June 27th. The shares were sold at an average price of $301.58, for a total value of $573,002.00. Following the sale, the vice president now owns 12,581 shares of the company's stock, valued at $3,794,177.98. The disclosure for this sale can be found here. Insiders sold 23,771 shares of company stock worth $7,312,417 in the last ninety days. 1.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. TheStreet raised SolarEdge Technologies from a "c" rating to a "b-" rating in a research report on Tuesday, August 2nd. StockNews.com raised SolarEdge Technologies to a "sell" rating in a research report on Saturday, July 2nd. Needham & Company LLC dropped their target price on SolarEdge Technologies from $390.00 to $380.00 and set a "buy" rating on the stock in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. lifted their target price on SolarEdge Technologies from $373.00 to $419.00 and gave the company an "overweight" rating in a research report on Monday, August 8th. Finally, Morgan Stanley lifted their target price on SolarEdge Technologies from $316.00 to $352.00 and gave the company an "equal weight" rating in a research report on Thursday, August 18th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $359.68.

SolarEdge Technologies Profile

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SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.

Further Reading

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