Arden Trust Co Makes New Investment in Solaredge Technologies Inc (NASDAQ:SEDG)

Arden Trust Co purchased a new stake in shares of Solaredge Technologies Inc (NASDAQ:SEDG) during the third quarter, Holdings Channel reports. The fund purchased 2,668 shares of the semiconductor company’s stock, valued at approximately $636,000.

Other large investors have also recently added to or reduced their stakes in the company. Sylebra Capital Ltd boosted its stake in Solaredge Technologies by 296.2% during the second quarter. Sylebra Capital Ltd now owns 836,489 shares of the semiconductor company’s stock worth $116,088,000 after acquiring an additional 625,351 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of Solaredge Technologies during the first quarter valued at about $38,846,000. AQR Capital Management LLC boosted its position in shares of Solaredge Technologies by 1,671.1% during the 1st 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 in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Solaredge Technologies by 55.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 674,952 shares of the semiconductor company’s stock valued at $93,670,000 after buying an additional 241,351 shares during the period. Finally, Vanguard Group Inc. increased its position in Solaredge Technologies by 12.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,190,834 shares of the semiconductor company’s stock valued at $165,264,000 after buying an additional 133,361 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

Shares of NASDAQ SEDG opened at $302.02 on Friday. The company has a market capitalization of $15.14 billion, a PE ratio of 88.83, a PEG ratio of 2.58 and a beta of 0.80. The stock’s 50 day moving average price is $225.76 and its 200-day moving average price is $163.58. Solaredge Technologies Inc has a twelve month low of $67.02 and a twelve month high of $315.43.

Solaredge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Monday, August 3rd. The semiconductor company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.26. The business had revenue of $331.90 million for the quarter, compared to analyst estimates of $319.55 million. Solaredge Technologies had a return on equity of 20.76% and a net margin of 10.89%. Solaredge Technologies’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company posted $0.94 earnings per share. Research analysts expect that Solaredge Technologies Inc will post 2.86 earnings per share for the current fiscal year.

Several equities research analysts have recently commented on SEDG shares. JMP Securities downgraded Solaredge Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, August 3rd. Goldman Sachs Group upgraded shares of Solaredge Technologies from a “sell” rating to a “neutral” rating and boosted their price target for the company from $142.00 to $283.00 in a research note on Thursday. Canaccord Genuity raised their price objective on shares of Solaredge Technologies from $128.00 to $169.00 and gave the company a “hold” rating in a research note on Tuesday, August 4th. Credit Suisse Group reissued a “hold” rating and set a $115.00 target price on shares of Solaredge Technologies in a research report on Tuesday, August 11th. Finally, Roth Capital raised their price target on shares of Solaredge Technologies from $140.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Ten equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $166.94.

In related news, VP Meir Adest sold 5,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $244.89, for a total transaction of $1,224,450.00. Following the completion of the sale, the vice president now owns 310,947 shares in the company, valued at $76,147,810.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marcel Gani sold 1,000 shares of Solaredge Technologies stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $205.00, for a total transaction of $205,000.00. Following the completion of the sale, the director now directly owns 38,426 shares in the company, valued at approximately $7,877,330. The disclosure for this sale can be found here. Insiders have sold a total of 111,851 shares of company stock worth $22,727,271 over the last quarter. Company insiders own 2.90% of the company’s stock.

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 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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