Wells Fargo & Company MN reduced its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 53.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,611 shares of the semiconductor company’s stock after selling 10,068 shares during the quarter. Wells Fargo & Company MN’s holdings in SolarEdge Technologies were worth $172,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in SolarEdge Technologies by 601.2% during the second quarter. Bank of New York Mellon Corp now owns 1,526,947 shares of the semiconductor company’s stock worth $30,539,000 after acquiring an additional 1,309,184 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in SolarEdge Technologies by 9.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 81,872 shares of the semiconductor company’s stock worth $1,278,000 after acquiring an additional 7,140 shares during the last quarter. Seizert Capital Partners LLC bought a new stake in SolarEdge Technologies during the second quarter worth approximately $4,006,000. Dimensional Fund Advisors LP increased its stake in SolarEdge Technologies by 172.8% during the first quarter. Dimensional Fund Advisors LP now owns 164,803 shares of the semiconductor company’s stock worth $2,571,000 after acquiring an additional 104,383 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in SolarEdge Technologies by 5.3% during the first quarter. California Public Employees Retirement System now owns 17,800 shares of the semiconductor company’s stock worth $278,000 after acquiring an additional 900 shares during the last quarter. 59.88% of the stock is currently owned by institutional investors.

In other SolarEdge Technologies news, CFO Ronen Faier sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $28.56, for a total transaction of $856,800.00. Following the completion of the transaction, the chief financial officer now owns 80,000 shares in the company, valued at $2,284,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Yoav Galin sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were 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 approximately $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 90 days. Company insiders own 16.40% of the company’s stock.

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SolarEdge Technologies, Inc. (SEDG) opened at $38.60 on Friday. SolarEdge Technologies, Inc. has a 12-month low of $12.00 and a 12-month high of $39.45. The stock has a market capitalization of $1,660.30, a P/E ratio of 23.39, a price-to-earnings-growth ratio of 0.84 and a beta of 0.10.

Several equities research analysts have weighed in on SEDG shares. Roth Capital raised SolarEdge Technologies from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Thursday, July 27th. Canaccord Genuity reissued a “buy” rating and set a $25.00 price objective (up from $19.00) on shares of SolarEdge Technologies in a research note on Friday, July 28th. ValuEngine raised SolarEdge Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. JMP Securities reissued an “outperform” rating on shares of SolarEdge Technologies in a research note on Thursday, August 3rd. Finally, Cowen Inc reissued a “buy” rating and set a $31.00 price objective (up from $24.00) on shares of SolarEdge Technologies in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. SolarEdge Technologies presently has a consensus rating of “Buy” and a consensus target price of $33.42.

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

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