Nextracker Inc. (NASDAQ:NXT) Shares Acquired by Lbp Am Sa

Lbp Am Sa boosted its position in shares of Nextracker Inc. (NASDAQ:NXT) by 57.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,359 shares of the company’s stock after purchasing an additional 19,059 shares during the period. Lbp Am Sa’s holdings in Nextracker were worth $1,913,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC grew its holdings in Nextracker by 30.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,623 shares of the company’s stock worth $388,000 after acquiring an additional 2,483 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in Nextracker by 16.2% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,141,901 shares of the company’s stock worth $42,193,000 after acquiring an additional 159,326 shares in the last quarter. Erste Asset Management GmbH grew its holdings in Nextracker by 23.6% during the 4th quarter. Erste Asset Management GmbH now owns 1,066,560 shares of the company’s stock worth $39,704,000 after acquiring an additional 203,594 shares in the last quarter. Swiss National Bank grew its holdings in Nextracker by 6.2% during the 4th quarter. Swiss National Bank now owns 282,120 shares of the company’s stock worth $10,306,000 after acquiring an additional 16,500 shares in the last quarter. Finally, Jupiter Asset Management Ltd. grew its holdings in Nextracker by 297.5% during the 4th quarter. Jupiter Asset Management Ltd. now owns 150,548 shares of the company’s stock worth $5,500,000 after acquiring an additional 112,679 shares in the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Bruce Ledesma sold 9,891 shares of Nextracker stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $46.05, for a total value of $455,480.55. Following the transaction, the insider now directly owns 132,374 shares of the company’s stock, valued at $6,095,822.70. This trade represents a 6.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO David P. Bennett sold 9,801 shares of Nextracker stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $49.90, for a total transaction of $489,069.90. Following the completion of the transaction, the chief accounting officer now directly owns 124,577 shares in the company, valued at approximately $6,216,392.30. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,758 shares of company stock worth $1,217,520 in the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Northland Capmk raised shares of Nextracker to a “strong-buy” rating in a report on Tuesday, November 19th. Jefferies Financial Group raised shares of Nextracker from a “hold” rating to a “buy” rating and lifted their price target for the company from $46.00 to $56.00 in a report on Wednesday, January 29th. Truist Financial reaffirmed a “buy” rating and issued a $56.00 price target (up from $54.00) on shares of Nextracker in a report on Wednesday, January 29th. BMO Capital Markets lifted their price target on shares of Nextracker from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th. Finally, TD Cowen assumed coverage on shares of Nextracker in a report on Thursday, December 19th. They issued a “hold” rating and a $41.00 price target for the company. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $56.50.

Nextracker Stock Down 1.9 %

NASDAQ NXT opened at $44.31 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.20 and a quick ratio of 1.96. The company’s 50 day simple moving average is $44.72 and its 200 day simple moving average is $39.61. Nextracker Inc. has a 12 month low of $30.93 and a 12 month high of $62.31. The company has a market capitalization of $6.45 billion, a P/E ratio of 11.27 and a beta of 2.24.

Nextracker (NASDAQ:NXT) last released its earnings results on Tuesday, January 28th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.31. Nextracker had a net margin of 20.12% and a return on equity of 41.22%. Equities research analysts expect that Nextracker Inc. will post 3.29 earnings per share for the current fiscal year.

Nextracker Profile

Nextracker Inc, an energy solutions company, provides solar tracker and software solutions for utility-scale and distributed generation solar projects in the United States and internationally. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.