Sabal Capital Management Lowers stake in Solaredge Technologies Inc (SEDG)

Solaredge Technologies Inc (SEDG) : Sabal Capital Management reduced its stake in Solaredge Technologies Inc by 3.75% during the most recent quarter end. The investment management company now holds a total of 273,955 shares of Solaredge Technologies Inc which is valued at $4.8 Million after selling 10,672 shares in Solaredge Technologies Inc , the firm said in a disclosure report filed with the SEC on May 12, 2016.Solaredge Technologies Inc makes up approximately 8.25% of Sabal Capital Management’s portfolio.

Other Hedge Funds, Including , Mackenzie Financial Corp added SEDG to its portfolio by purchasing 87,362 company shares during the most recent quarter which is valued at $1.5 Million. Solaredge Technologies Inc makes up approx 0.01% of Mackenzie Financial Corp’s portfolio.First Trust Advisors Lp boosted its stake in SEDG in the latest quarter, The investment management firm added 3,574 additional shares and now holds a total of 39,988 shares of Solaredge Technologies Inc which is valued at $700,190. Blackrock Group Ltd added SEDG to its portfolio by purchasing 2,179 company shares during the most recent quarter which is valued at $38,154.Alpine Woods Capital Investors boosted its stake in SEDG in the latest quarter, The investment management firm added 2,300 additional shares and now holds a total of 45,600 shares of Solaredge Technologies Inc which is valued at $798,456. Solaredge Technologies Inc makes up approx 0.05% of Alpine Woods Capital Investors’s portfolio.Swiss National Bank boosted its stake in SEDG in the latest quarter, The investment management firm added 8,700 additional shares and now holds a total of 23,200 shares of Solaredge Technologies Inc which is valued at $517,128.

Solaredge Technologies Inc opened for trading at $19.31 and hit $19.53 on the upside on Friday, eventually ending the session at $19.41, with a gain of 1.30% or 0.25 points. The heightened volatility saw the trading volume jump to 4,52,312 shares. Company has a market cap of $790,589 M.

On the company’s financial health, Solaredge Technologies Inc reported $0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on May 9, 2016. Analyst had a consensus of $0.41. The company had revenue of $125.20 million for the quarter, compared to analysts expectations of $123.23 million. The company’s revenue was up 44.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.

Many Wall Street Analysts have commented on Solaredge Technologies Inc. Shares were Reiterated by Needham on May 10, 2016 to “Buy” and Lowered the Price Target to $ 36 from a previous price target of $38 .Barclays Initiated Solaredge Technologies Inc on Apr 4, 2016 to “Overweight”, Price Target of the shares are set at $35.JP Morgan Initiated Solaredge Technologies Inc on Feb 23, 2016 to “Overweight”, Price Target of the shares are set at $34.

Solaredge Technologies Inc (SolarEdge) is a provider of solar power harvesting and photovoltaic (PV) monitoring solutions. The Company’s portfolio of products includes power optimizers PV inverters and a Web portal for module-level monitoring and fault detection. Its SolarEdge power optimizer is a DC/DC converter which is connected by installers to each PV module or embedded by module manufacturers replacing the solar junction box. Its SolarEdge DC-AC PV inverter works with the SolarEdge power optimizers. Its SolarEdge PV Monitoring Portal is a Web-based application that provides module-level string-level and system-wide monitoring. The Company’s customers include providers of solar PV systems to residential and commercial end users such as SolarCity SunRun Inc. and Vivint Solar Inc.

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