First Solar, Inc. (NASDAQ:FSLR) Stock Position Cut by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC decreased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 93.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 21,430 shares of the solar cell manufacturer’s stock after selling 293,597 shares during the period. Zevenbergen Capital Investments LLC’s holdings in First Solar were worth $3,777,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in shares of First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after buying an additional 904,498 shares during the period. Mirova US LLC boosted its holdings in shares of First Solar by 961.0% in the fourth quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock worth $113,906,000 after buying an additional 585,394 shares during the period. Amundi lifted its position in shares of First Solar by 31.0% in the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock worth $336,871,000 after purchasing an additional 426,797 shares in the last quarter. Merewether Investment Management LP raised its position in First Solar by 993.4% during the third quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock valued at $80,553,000 after acquiring an additional 293,400 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new position in First Solar during the third quarter valued at approximately $67,652,000. Institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling at First Solar

In other news, insider Kuntal Kumar Verma sold 7,475 shares of First Solar stock in a transaction on Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the sale, the insider now owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. This trade represents a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alexander R. Bradley sold 599 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $80,116.25. Following the completion of the transaction, the chief financial officer now owns 45,717 shares in the company, valued at $6,114,648.75. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock valued at $4,767,158 in the last quarter. 0.58% of the stock is currently owned by insiders.

First Solar Price Performance

Shares of FSLR opened at $131.32 on Monday. The stock has a market capitalization of $14.06 billion, a P/E ratio of 11.31, a P/E/G ratio of 0.19 and a beta of 1.52. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a twelve month low of $124.96 and a twelve month high of $306.77. The company has a 50 day moving average of $156.26 and a 200-day moving average of $187.86.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, equities research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FSLR. Citigroup lowered their price objective on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on shares of First Solar in a research note on Thursday, February 27th. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Piper Sandler decreased their price target on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Guggenheim decreased their price target on shares of First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, First Solar has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.