V Wealth Advisors LLC acquired a new position in shares of Solaredge Technologies Inc (NASDAQ:SEDG) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 1,710 shares of the semiconductor company’s stock, valued at approximately $237,000.
A number of other large investors have also recently bought and sold shares of SEDG. Exchange Traded Concepts LLC purchased a new stake in Solaredge Technologies during the 1st quarter worth approximately $25,000. Horan Securities Inc. acquired a new position in shares of Solaredge Technologies during the 1st quarter worth approximately $29,000. Flagship Harbor Advisors LLC boosted its holdings in shares of Solaredge Technologies by 35.0% during the 1st quarter. Flagship Harbor Advisors LLC now owns 405 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 105 shares during the last quarter. Highlander Capital Management LLC acquired a new position in shares of Solaredge Technologies during the 1st quarter worth approximately $41,000. Finally, Anderson Fisher LLC acquired a new position in shares of Solaredge Technologies during the 1st quarter worth approximately $45,000. Institutional investors own 81.44% of the company’s stock.
In other news, CFO Ronen Faier sold 23,199 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $135.70, for a total transaction of $3,148,104.30. Following the sale, the chief financial officer now owns 91,474 shares of the company’s stock, valued at $12,413,021.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Lior Handelsman sold 10,380 shares of the company’s stock in a transaction on Monday, July 13th. The stock was sold at an average price of $164.51, for a total value of $1,707,613.80. Following the sale, the vice president now directly owns 58,373 shares in the company, valued at approximately $9,602,942.23. The disclosure for this sale can be found here. Insiders have sold 59,263 shares of company stock worth $8,961,154 in the last ninety days. Corporate insiders own 2.90% of the company’s stock.
Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.07). Solaredge Technologies had a return on equity of 21.94% and a net margin of 10.71%. The firm had revenue of $431.22 million for the quarter, compared to analyst estimates of $422.16 million. During the same quarter last year, the company earned $0.64 earnings per share. The firm’s revenue for the quarter was up 58.6% on a year-over-year basis. On average, sell-side analysts expect that Solaredge Technologies Inc will post 2.69 EPS for the current fiscal year.
Several brokerages have recently weighed in on SEDG. UBS Group lowered their target price on Solaredge Technologies from $130.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Needham & Company LLC reiterated a “hold” rating on shares of Solaredge Technologies in a report on Thursday, May 7th. Roth Capital upped their price objective on Solaredge Technologies from $140.00 to $190.00 and gave the company a “buy” rating in a report on Monday, July 27th. Northland Securities reiterated a “hold” rating and issued a $88.00 price objective on shares of Solaredge Technologies in a report on Thursday, May 7th. Finally, BidaskClub upgraded Solaredge Technologies from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $137.80.
Solaredge Technologies Company Profile
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.
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