First Solar (NASDAQ:FSLR) Trading Down 2.1% Following Insider Selling

First Solar, Inc. (NASDAQ:FSLR)’s stock price fell 2.1% during trading on Monday after an insider sold shares in the company. The company traded as low as $130.60 and last traded at $133.35. 1,353,742 shares were traded during mid-day trading, a decline of 47% from the average session volume of 2,571,614 shares. The stock had previously closed at $136.18.

Specifically, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the transaction, the insider now directly owns 3,549 shares of the company’s stock, valued at $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the transaction, the chief executive officer now directly owns 103,403 shares in the company, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

FSLR has been the topic of a number of recent research reports. Royal Bank of Canada cut their target price on First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Robert W. Baird dropped their price target on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Guggenheim decreased their price objective on First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, Barclays cut their target price on First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a research report on Friday. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $262.08.

First Solar Stock Performance

The business’s 50-day moving average is $171.20 and its 200 day moving average is $196.97. The company has a market cap of $13.66 billion, a PE ratio of 10.99, a PEG ratio of 0.19 and a beta of 1.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

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

Institutional Investors Weigh In On First Solar

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of First Solar by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer’s stock worth $2,259,697,000 after acquiring an additional 120,289 shares during the period. State Street Corp raised its holdings in First Solar by 2.2% in the third quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock worth $1,236,383,000 after purchasing an additional 108,984 shares in the last quarter. Geode Capital Management LLC lifted its position in First Solar by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer’s stock valued at $469,154,000 after buying an additional 63,739 shares during the period. Wellington Management Group LLP increased its stake in shares of First Solar by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer’s stock worth $415,899,000 after acquiring an additional 262,482 shares in the last quarter. Finally, Invesco Ltd. lifted its position in First Solar by 13.9% during the 4th quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer’s stock valued at $323,410,000 after acquiring an additional 223,933 shares during the period. Institutional investors own 92.08% of the company’s stock.

About First Solar

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.