Columbus Circle Investors Acquires Shares of 159,615 SolarEdge Technologies, Inc. (SEDG)
Columbus Circle Investors bought a new stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 159,615 shares of the semiconductor company’s stock, valued at approximately $4,557,000. Columbus Circle Investors owned 0.38% of SolarEdge Technologies at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Senvest Management LLC increased its holdings in shares of SolarEdge Technologies by 2.8% in the 2nd quarter. Senvest Management LLC now owns 3,751,178 shares of the semiconductor company’s stock valued at $75,024,000 after purchasing an additional 103,000 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of SolarEdge Technologies by 16.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,781,003 shares of the semiconductor company’s stock valued at $50,849,000 after purchasing an additional 254,056 shares during the period. Menora Mivtachim Holdings LTD. increased its holdings in shares of SolarEdge Technologies by 26.2% in the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 1,444,013 shares of the semiconductor company’s stock valued at $28,880,000 after purchasing an additional 300,000 shares during the period. Ion Asset Management Ltd. acquired a new position in shares of SolarEdge Technologies in the 2nd quarter valued at about $20,180,000. Finally, Janus Henderson Group PLC increased its holdings in shares of SolarEdge Technologies by 435.7% in the 2nd quarter. Janus Henderson Group PLC now owns 946,920 shares of the semiconductor company’s stock valued at $18,932,000 after purchasing an additional 770,166 shares during the period. Institutional investors own 59.88% of the company’s stock.
Shares of SolarEdge Technologies, Inc. (NASDAQ SEDG) traded up $1.35 during midday trading on Tuesday, hitting $38.90. The company had a trading volume of 887,600 shares, compared to its average volume of 839,946. The company has a market cap of $1,620.00 and a PE ratio of 22.76. SolarEdge Technologies, Inc. has a 1-year low of $12.00 and a 1-year high of $39.45.
In other SolarEdge Technologies news, VP Zvi Lando sold 20,000 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $38.02, for a total transaction of $760,400.00. Following the completion of the transaction, the vice president now directly owns 28,333 shares in the company, valued at $1,077,220.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Yoav Galin sold 15,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $26.35, for a total value of $395,250.00. Following the transaction, the vice president now owns 65,000 shares of the company’s stock, valued at $1,712,750. The disclosure for this sale can be found here. Insiders have sold 112,940 shares of company stock valued at $3,511,159 in the last ninety days. Company insiders own 16.40% of the company’s stock.
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SEDG has been the topic of a number of research reports. Roth Capital upgraded SolarEdge Technologies from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Thursday, July 27th. Canaccord Genuity reiterated a “buy” rating and issued a $25.00 target price (up previously from $19.00) on shares of SolarEdge Technologies in a report on Friday, July 28th. ValuEngine upgraded SolarEdge Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. JMP Securities reiterated an “outperform” rating on shares of SolarEdge Technologies in a report on Thursday, August 3rd. Finally, Cowen and Company reiterated a “buy” rating and issued a $31.00 target price (up previously from $24.00) on shares of SolarEdge Technologies in a report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $33.42.
SolarEdge Technologies Company Profile
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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