BNP Paribas Arbitrage SA Acquires 14,337 Shares of Solaredge Technologies Inc (SEDG)

BNP Paribas Arbitrage SA boosted its holdings in shares of Solaredge Technologies Inc (NASDAQ:SEDG) by 477,900.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,340 shares of the semiconductor company’s stock after purchasing an additional 14,337 shares during the period. BNP Paribas Arbitrage SA’s holdings in Solaredge Technologies were worth $409,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Senvest Management LLC lifted its stake in Solaredge Technologies by 2.8% during the second 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 last quarter. Bank of New York Mellon Corp lifted 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 valued at $30,539,000 after purchasing an additional 1,309,184 shares during the last quarter. Ion Asset Management Ltd. acquired a new stake in Solaredge Technologies during the second quarter valued at approximately $20,180,000. Janus Henderson Group PLC lifted its stake in Solaredge Technologies by 435.7% during the second 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 last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Solaredge Technologies by 1.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 653,832 shares of the semiconductor company’s stock valued at $13,077,000 after purchasing an additional 7,634 shares during the last quarter. 67.88% of the stock is owned by institutional investors and hedge funds.

In other news, CFO Ronen Faier sold 30,000 shares of the stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $28.56, for a total transaction of $856,800.00. Following the transaction, the chief financial officer now owns 80,000 shares in the company, valued at approximately $2,284,800. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction of $395,250.00. Following the transaction, the vice president now owns 65,000 shares in the company, valued at approximately $1,712,750. The disclosure for this sale can be found here. In the last quarter, insiders sold 118,288 shares of company stock worth $3,698,290. Company insiders own 16.40% of the company’s stock.

Several equities research analysts recently commented on SEDG shares. Needham & Company LLC restated a “buy” rating and issued a $30.00 price target on shares of Solaredge Technologies in a research report on Tuesday, September 12th. ValuEngine downgraded shares of Solaredge Technologies from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Zacks Investment Research upgraded shares of Solaredge Technologies from a “hold” rating to a “strong-buy” rating and set a $44.00 price target for the company in a research report on Tuesday, November 14th. J P Morgan Chase & Co upped their price target on shares of Solaredge Technologies to $43.00 and gave the company an “overweight” rating in a research report on Thursday, November 9th. Finally, B. Riley upgraded shares of Solaredge Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $18.00 to $45.00 in a research report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $34.19.

Solaredge Technologies Inc (NASDAQ:SEDG) opened at $36.05 on Monday. The firm has a market cap of $1,550.62, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 0.79 and a beta of 0.17. Solaredge Technologies Inc has a 12 month low of $12.15 and a 12 month high of $39.90.

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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.

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

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