SolarEdge (NASDAQ:SEDG) VP Lior Handelsman sold 59,298 shares of the stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $68.77, for a total value of $4,077,923.46. Following the completion of the sale, the vice president now directly owns 94,943 shares of the company’s stock, valued at approximately $6,529,230.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Lior Handelsman also recently made the following trade(s):
Get SolarEdge alerts: On Friday, May 11th, Lior Handelsman sold 32,548 shares of SolarEdge stock. The shares were sold at an average price of $63.54, for a total value of $2,068,099.92.SolarEdge remained flat at $$66.60 during trading hours on Friday, according to Marketbeat Ratings. The company had a trading volume of 313,565 shares, compared to its average volume of 830,262. SolarEdge has a fifty-two week low of $67.35 and a fifty-two week high of $69.75. The firm has a market capitalization of $3.04 billion, a PE ratio of 29.60, a P/E/G ratio of 1.01 and a beta of -0.54.
SolarEdge (NASDAQ:SEDG) last released its earnings results on Wednesday, February 14th. The semiconductor company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.51 by $0.29. SolarEdge had a return on equity of 32.27% and a net margin of 15.06%. The business had revenue of $189.34 million during the quarter, compared to analysts’ expectations of $179.78 million. equities analysts expect that SolarEdge will post 2.78 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Clal Insurance Enterprises Holdings Ltd acquired a new stake in SolarEdge during the fourth quarter worth approximately $102,000. Meadow Creek Investment Management LLC acquired a new stake in SolarEdge during the fourth quarter worth approximately $109,000. Sei Investments Co. grew its stake in SolarEdge by 114.4% during the first quarter. Sei Investments Co. now owns 3,107 shares of the semiconductor company’s stock worth $163,000 after purchasing an additional 1,658 shares during the period. Elkfork Partners LLC acquired a new stake in SolarEdge during the fourth quarter worth approximately $190,000. Finally, Highbridge Capital Management LLC acquired a new stake in SolarEdge during the first quarter worth approximately $203,000. 67.17% of the stock is owned by institutional investors and hedge funds.
SEDG has been the subject of several recent research reports. Vertical Group raised SolarEdge from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. Vertical Research raised SolarEdge from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. BidaskClub cut SolarEdge from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. JPMorgan Chase increased their price target on SolarEdge from $52.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, March 19th. Finally, UBS initiated coverage on SolarEdge in a research note on Friday, March 16th. They issued a “buy” rating and a $63.00 price target for the company. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $56.00.
SolarEdge Company Profile
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in Israel, the United States, the Netherlands, Europe, and internationally. The company's DC optimized inverter systems include power optimizers and inverters, as well as a cloud-based monitoring platform.
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