Perigon Wealth Management LLC Cuts Position in Solaredge Technologies Inc (NASDAQ:SEDG)

Perigon Wealth Management LLC cut its stake in Solaredge Technologies Inc (NASDAQ:SEDG) by 16.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,282 shares of the semiconductor company’s stock after selling 464 shares during the period. Perigon Wealth Management LLC’s holdings in Solaredge Technologies were worth $317,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in SEDG. William Blair Investment Management LLC bought a new stake in Solaredge Technologies in the first quarter worth $117,308,000. Swedbank lifted its stake in Solaredge Technologies by 23.7% in the first quarter. Swedbank now owns 3,069,011 shares of the semiconductor company’s stock worth $251,291,000 after purchasing an additional 588,783 shares during the last quarter. Norges Bank bought a new stake in Solaredge Technologies in the fourth quarter worth $49,001,000. Zurich Insurance Group Ltd FI bought a new stake in Solaredge Technologies in the first quarter worth $38,846,000. Finally, AQR Capital Management LLC lifted its stake in Solaredge Technologies by 1,671.1% in the first quarter. AQR Capital Management LLC now owns 338,926 shares of the semiconductor company’s stock worth $27,477,000 after purchasing an additional 319,790 shares during the last quarter. Institutional investors own 81.44% of the company’s stock.

Several analysts have weighed in on SEDG shares. Roth Capital boosted their price target on shares of Solaredge Technologies from $140.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Goldman Sachs Group downgraded shares of Solaredge Technologies from a “neutral” rating to a “sell” rating and boosted their price target for the stock from $120.00 to $126.00 in a research note on Wednesday, June 24th. Oppenheimer reaffirmed a “buy” rating and set a $151.00 price objective on shares of Solaredge Technologies in a research note on Thursday, May 7th. Northland Securities reaffirmed a “hold” rating and set a $88.00 price objective on shares of Solaredge Technologies in a research note on Thursday, May 7th. Finally, BidaskClub raised shares of Solaredge Technologies from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $137.80.

SEDG stock opened at $175.10 on Friday. Solaredge Technologies Inc has a 1 year low of $60.93 and a 1 year high of $181.80. The company has a market cap of $8.69 billion, a P/E ratio of 52.11, a PEG ratio of 2.61 and a beta of 0.71. The firm has a 50-day moving average of $155.57 and a 200 day moving average of $121.77. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.45 and a quick ratio of 1.94.

Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.02 by ($0.07). Solaredge Technologies had a return on equity of 21.94% and a net margin of 10.71%. The company had revenue of $431.22 million during the quarter, compared to the consensus estimate of $422.16 million. During the same period in the previous year, the company earned $0.64 earnings per share. Solaredge Technologies’s quarterly revenue was up 58.6% on a year-over-year basis. On average, equities research analysts expect that Solaredge Technologies Inc will post 2.69 earnings per share for the current fiscal year.

In other Solaredge Technologies news, CFO Ronen Faier sold 23,199 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $135.70, for a total value of $3,148,104.30. Following the sale, the chief financial officer now owns 91,474 shares in the company, valued at $12,413,021.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Lior Handelsman sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 15th. The stock was sold at an average price of $171.80, for a total transaction of $1,718,000.00. Following the completion of the sale, the vice president now owns 57,993 shares in the company, valued at approximately $9,963,197.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,263 shares of company stock valued at $8,961,154. 2.90% of the stock is owned by insiders.

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

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