DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Invests $227,000 in Nextracker Inc. (NASDAQ:NXT)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,220 shares of the company's stock, valued at approximately $227,000.

A number of other large investors have also recently bought and sold shares of NXT. IFP Advisors Inc boosted its stake in shares of Nextracker by 516.4% in the fourth quarter. IFP Advisors Inc now owns 3,304 shares of the company's stock worth $121,000 after buying an additional 2,768 shares during the last quarter. Robeco Schweiz AG acquired a new position in Nextracker in the fourth quarter valued at approximately $22,112,000. New York State Common Retirement Fund boosted its position in Nextracker by 65.6% in the 4th quarter. New York State Common Retirement Fund now owns 469,163 shares of the company's stock worth $17,139,000 after purchasing an additional 185,858 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Nextracker by 10.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,753,848 shares of the company's stock worth $64,068,000 after purchasing an additional 161,873 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in shares of Nextracker by 115.1% during the 4th quarter. Jones Financial Companies Lllp now owns 13,186 shares of the company's stock valued at $482,000 after purchasing an additional 7,056 shares in the last quarter. Hedge funds and other institutional investors own 67.41% of the company's stock.

Insider Activity at Nextracker

In related news, President Howard Wenger sold 6,066 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $55.00, for a total value of $333,630.00. Following the completion of the sale, the president now owns 219,389 shares of the company's stock, valued at approximately $12,066,395. This represents a 2.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO David P. Bennett sold 9,801 shares of Nextracker stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $55.00, for a total transaction of $539,055.00. Following the transaction, the chief accounting officer now directly owns 124,615 shares in the company, valued at $6,853,825. This trade represents a 7.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.27% of the company's stock.

Analyst Ratings Changes

NXT has been the topic of a number of recent analyst reports. Northland Securities reissued an "outperform" rating and set a $55.00 price target (up from $48.00) on shares of Nextracker in a report on Wednesday, January 29th. JPMorgan Chase & Co. upped their price objective on shares of Nextracker from $58.00 to $61.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Piper Sandler set a $49.00 target price on Nextracker in a research report on Monday, April 21st. Bank of America lifted their price target on Nextracker from $55.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday. Finally, BMO Capital Markets upped their price target on Nextracker from $51.00 to $59.00 and gave the stock a "market perform" rating in a report on Thursday. Five analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $59.90.

Nextracker Price Performance

NXT traded down $2.28 during trading on Friday, reaching $59.31. The company's stock had a trading volume of 4,314,597 shares, compared to its average volume of 2,942,322. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $43.15 and a two-hundred day simple moving average of $41.83. Nextracker Inc. has a 1 year low of $30.93 and a 1 year high of $63.19. The company has a market cap of $8.64 billion, a price-to-earnings ratio of 15.09 and a beta of 2.03.

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.