Solaredge Technologies Inc (SEDG) Shares Bought by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. increased its stake in Solaredge Technologies Inc (NASDAQ:SEDG) by 135.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,418 shares of the semiconductor company’s stock after acquiring an additional 14,058 shares during the period. Harel Insurance Investments & Financial Services Ltd. owned approximately 0.05% of Solaredge Technologies worth $919,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB boosted its position in shares of Solaredge Technologies by 31.1% in the second quarter. Xact Kapitalforvaltning AB now owns 5,058 shares of the semiconductor company’s stock worth $242,000 after acquiring an additional 1,200 shares during the last quarter. United Services Automobile Association boosted its position in shares of Solaredge Technologies by 20.2% in the second quarter. United Services Automobile Association now owns 8,378 shares of the semiconductor company’s stock worth $401,000 after acquiring an additional 1,408 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Solaredge Technologies by 12.0% in the third quarter. State of Alaska Department of Revenue now owns 13,848 shares of the semiconductor company’s stock worth $521,000 after acquiring an additional 1,488 shares during the last quarter. Globeflex Capital L P boosted its position in shares of Solaredge Technologies by 11.5% in the second quarter. Globeflex Capital L P now owns 14,528 shares of the semiconductor company’s stock worth $695,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Solaredge Technologies by 16.1% in the first quarter. Russell Investments Group Ltd. now owns 11,709 shares of the semiconductor company’s stock worth $616,000 after acquiring an additional 1,628 shares during the last quarter. 73.98% of the stock is currently owned by institutional investors and hedge funds.

SEDG has been the topic of a number of recent research reports. BidaskClub cut shares of Solaredge Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 29th. Roth Capital set a $60.00 price target on shares of Solaredge Technologies and gave the company a “buy” rating in a research report on Friday, August 3rd. Vertical Group set a $29.00 price target on shares of Solaredge Technologies and gave the company a “sell” rating in a research report on Wednesday, October 24th. Cowen reaffirmed a “buy” rating and set a $57.00 price target on shares of Solaredge Technologies in a research report on Friday, August 3rd. Finally, ValuEngine cut shares of Solaredge Technologies from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Three analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $55.67.



In other news, VP Meir Adest sold 28,000 shares of Solaredge Technologies stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $55.48, for a total transaction of $1,553,440.00. Following the sale, the vice president now owns 341,040 shares in the company, valued at $18,920,899.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.70% of the company’s stock.

Shares of SEDG stock opened at $37.24 on Tuesday. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 0.60 and a beta of -0.47. Solaredge Technologies Inc has a fifty-two week low of $30.80 and a fifty-two week high of $70.74.

Solaredge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Thursday, August 2nd. The semiconductor company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.09. The company had revenue of $227.10 million for the quarter, compared to analyst estimates of $225.31 million. Solaredge Technologies had a net margin of 14.85% and a return on equity of 32.26%. The business’s quarterly revenue was up 66.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 earnings per share. Equities research analysts predict that Solaredge Technologies Inc will post 2.79 EPS for the current year.

About Solaredge Technologies

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in Israel, the United States, the Netherlands, Europe, and internationally. The company's DC optimized inverter systems include power optimizers and inverters, as well as a cloud-based monitoring platform.

Further Reading: Risk Tolerance

Institutional Ownership by Quarter for Solaredge Technologies (NASDAQ:SEDG)

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