Prudential Financial Inc. Reduces Stake in Solaredge Technologies Inc (NASDAQ:SEDG)

Prudential Financial Inc. decreased its stake in shares of Solaredge Technologies Inc (NASDAQ:SEDG) by 0.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 82,450 shares of the semiconductor company’s stock after selling 280 shares during the period. Prudential Financial Inc. owned 0.17% of Solaredge Technologies worth $5,150,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. C M Bidwell & Associates Ltd. bought a new position in Solaredge Technologies in the 2nd quarter worth about $32,000. Westside Investment Management Inc. bought a new position in shares of Solaredge Technologies during the 2nd quarter valued at about $35,000. NumerixS Investment Technologies Inc increased its position in shares of Solaredge Technologies by 44.4% during the 1st quarter. NumerixS Investment Technologies Inc now owns 2,600 shares of the semiconductor company’s stock valued at $98,000 after purchasing an additional 800 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Solaredge Technologies during the 2nd quarter valued at about $229,000. Finally, Cim LLC bought a new position in shares of Solaredge Technologies during the 2nd quarter valued at about $232,000. Institutional investors and hedge funds own 84.66% of the company’s stock.

Several equities analysts have recently commented on the company. Goldman Sachs Group upgraded Solaredge Technologies from a “sell” rating to a “neutral” rating and increased their price objective for the company from $35.00 to $52.00 in a research report on Monday, June 17th. BidaskClub lowered Solaredge Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday. UBS Group lowered Solaredge Technologies from a “buy” rating to a “neutral” rating and increased their price objective for the company from $73.00 to $90.00 in a research report on Thursday, August 22nd. Canaccord Genuity increased their price objective on Solaredge Technologies from $62.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. increased their price objective on Solaredge Technologies from $84.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $75.86.



NASDAQ SEDG traded up $2.25 on Friday, hitting $73.90. The company’s stock had a trading volume of 499,247 shares, compared to its average volume of 981,324. Solaredge Technologies Inc has a 52-week low of $32.42 and a 52-week high of $89.43. The company has a current ratio of 2.49, a quick ratio of 1.98 and a debt-to-equity ratio of 0.05. The company’s 50-day simple moving average is $76.81 and its 200 day simple moving average is $56.52. The firm has a market cap of $3.60 billion, a P/E ratio of 27.47, a PEG ratio of 1.14 and a beta of 0.06.

Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Solaredge Technologies had a return on equity of 17.81% and a net margin of 10.09%. The business had revenue of $325.00 million during the quarter, compared to analysts’ expectations of $315.53 million. During the same quarter last year, the business posted $0.82 EPS. The business’s revenue was up 43.1% on a year-over-year basis. On average, research analysts forecast that Solaredge Technologies Inc will post 2.99 EPS for the current fiscal year.

In other news, CEO Zvi Lando sold 28,604 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $81.93, for a total value of $2,343,525.72. Following the completion of the transaction, the chief executive officer now owns 84,375 shares in the company, valued at approximately $6,912,843.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Yoav Galin sold 97,500 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $84.22, for a total value of $8,211,450.00. Following the completion of the transaction, the vice president now owns 59,030 shares of the company’s stock, valued at approximately $4,971,506.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 212,995 shares of company stock valued at $17,894,851. Company insiders own 7.90% of the company’s stock.

Solaredge Technologies 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.

Featured Article: What is meant by a buy rating?

Want to see what other hedge funds are holding SEDG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Solaredge Technologies Inc (NASDAQ:SEDG).

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

Receive News & Ratings for Solaredge Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solaredge Technologies and related companies with MarketBeat.com's FREE daily email newsletter.