Solaredge Technologies Inc (SEDG) VP Sold $1,712,400.00 in Shares

Solaredge Technologies Inc (SEDG) VP Sold $1,712,400.00 in Shares

Solaredge Technologies Inc (NASDAQ:SEDG) VP Yoav Galin sold 120,000 shares of Solaredge Technologies stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $14.27, for a total value of $1,712,400.00. Following the transaction, the vice president now owns 540,838 shares of the company’s stock, valued at $7,717,758.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Solaredge Technologies Inc (NASDAQ:SEDG) traded up 2.00% during mid-day trading on Tuesday, reaching $15.30. The company had a trading volume of 362,228 shares. The stock has a market capitalization of $628.26 million, a PE ratio of 10.61 and a beta of -0.25. Solaredge Technologies Inc has a one year low of $11.35 and a one year high of $28.80. The company’s 50-day moving average is $14.13 and its 200-day moving average is $14.11.

Solaredge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Tuesday, February 14th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by $0.01. Solaredge Technologies had a return on equity of 29.93% and a net margin of 15.46%. The firm had revenue of $111.50 million for the quarter, compared to analyst estimates of $115.82 million. During the same period last year, the company posted $0.44 earnings per share. The firm’s quarterly revenue was down 10.7% compared to the same quarter last year. Equities research analysts anticipate that Solaredge Technologies Inc will post $1.23 earnings per share for the current year.

SEDG has been the subject of several research analyst reports. Axiom Securities reiterated a “sell” rating on shares of Solaredge Technologies in a research note on Friday, December 9th. Vetr downgraded Solaredge Technologies from a “strong-buy” rating to a “buy” rating and set a $15.88 target price for the company. in a research note on Wednesday, January 4th. Zacks Investment Research upgraded Solaredge Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, January 17th. Goldman Sachs Group Inc reiterated a “sell” rating on shares of Solaredge Technologies in a research note on Friday, February 10th. Finally, Roth Capital reiterated a “neutral” rating and set a $14.00 target price on shares of Solaredge Technologies in a research note on Tuesday, February 14th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Solaredge Technologies presently has a consensus rating of “Hold” and a consensus target price of $18.07.

A number of hedge funds and other institutional investors have recently bought and sold shares of SEDG. Senvest Management LLC increased its position in Solaredge Technologies by 30.9% in the third quarter. Senvest Management LLC now owns 1,974,455 shares of the company’s stock worth $34,020,000 after buying an additional 466,376 shares during the period. NN Investment Partners Holdings N.V. increased its stake in shares of Solaredge Technologies by 26.2% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 1,211,087 shares of the company’s stock valued at $15,017,000 after buying an additional 251,313 shares during the period. Prince Street Capital Management LLC increased its stake in shares of Solaredge Technologies by 12.6% in the third quarter. Prince Street Capital Management LLC now owns 965,400 shares of the company’s stock valued at $16,633,000 after buying an additional 107,700 shares during the period. Menora Mivtachim Holdings LTD. increased its stake in shares of Solaredge Technologies by 106.5% in the fourth quarter. Menora Mivtachim Holdings LTD. now owns 852,000 shares of the company’s stock valued at $10,565,000 after buying an additional 439,500 shares during the period. Finally, Shell Asset Management Co. increased its stake in shares of Solaredge Technologies by 78.6% in the third quarter. Shell Asset Management Co. now owns 666,300 shares of the company’s stock valued at $11,480,000 after buying an additional 293,243 shares during the period. 61.51% of the stock is currently owned by institutional investors and hedge funds.

About Solaredge Technologies

SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.

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