Vestmark Advisory Solutions Inc. Buys Shares of 783 SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Posted by Defense World Staff on Aug 19th, 2023

Vestmark Advisory Solutions Inc. bought a new stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 783 shares of the semiconductor company’s stock, valued at approximately $238,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SEDG. Harbour Investments Inc. boosted its stake in shares of SolarEdge Technologies by 102.0% during the 4th quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 50 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of SolarEdge Technologies during the 1st quarter worth about $41,000. Steward Partners Investment Advisory LLC boosted its stake in shares of SolarEdge Technologies by 49.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 145 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 48 shares in the last quarter. Addison Advisors LLC boosted its stake in shares of SolarEdge Technologies by 47.5% during the 4th quarter. Addison Advisors LLC now owns 149 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 48 shares in the last quarter. Finally, CI Investments Inc. boosted its stake in shares of SolarEdge Technologies by 104.1% during the 4th quarter. CI Investments Inc. now owns 149 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 83.23% of the company’s stock.

Insider Activity

In other news, CFO Ronen Faier bought 875 shares of SolarEdge Technologies stock in a transaction dated Wednesday, August 9th. The shares were bought at an average price of $180.10 per share, for a total transaction of $157,587.50. Following the purchase, the chief financial officer now owns 73,414 shares of the company’s stock, valued at $13,221,861.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.17% of the stock is owned by corporate insiders.

SolarEdge Technologies Stock Performance

SolarEdge Technologies stock opened at $162.34 on Friday. SolarEdge Technologies, Inc. has a 52-week low of $158.01 and a 52-week high of $345.80. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.84 and a quick ratio of 2.75. The stock has a fifty day moving average price of $239.95 and a two-hundred day moving average price of $279.18. The firm has a market capitalization of $9.18 billion, a P/E ratio of 31.40, a P/E/G ratio of 0.91 and a beta of 1.34.

Wall Street Analysts Forecast Growth

SEDG has been the subject of several recent analyst reports. Bank of America downgraded SolarEdge Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $320.00 to $181.00 in a research note on Wednesday. Barclays decreased their target price on SolarEdge Technologies from $359.00 to $274.00 and set an “overweight” rating for the company in a research note on Wednesday, August 2nd. Truist Financial decreased their target price on SolarEdge Technologies from $400.00 to $340.00 and set a “buy” rating for the company in a research note on Thursday, August 3rd. JPMorgan Chase & Co. decreased their target price on SolarEdge Technologies from $393.00 to $359.00 in a research note on Wednesday, July 19th. Finally, TheStreet downgraded SolarEdge Technologies from a “b-” rating to a “c” rating in a research note on Tuesday, August 1st. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, SolarEdge Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $336.38.

Get Our Latest Stock Analysis on SolarEdge Technologies

SolarEdge Technologies Company Profile

(Free Report)

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 in Solar and All Other segments. 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.