Cerity Partners LLC purchased a new position in Nextracker Inc. (NASDAQ:NXT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,300 shares of the company's stock, valued at approximately $308,000.
Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Nextracker by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 13,843,997 shares of the company's stock worth $505,721,000 after purchasing an additional 243,635 shares during the period. Invesco Ltd. lifted its position in shares of Nextracker by 52.2% in the 4th quarter. Invesco Ltd. now owns 3,874,875 shares of the company's stock worth $141,549,000 after purchasing an additional 1,329,456 shares during the period. Sachem Head Capital Management LP lifted its position in shares of Nextracker by 4.3% in the 4th quarter. Sachem Head Capital Management LP now owns 2,977,500 shares of the company's stock worth $108,768,000 after purchasing an additional 122,500 shares during the period. Norges Bank purchased a new stake in shares of Nextracker in the 4th quarter worth about $106,166,000. Finally, Deutsche Bank AG lifted its position in shares of Nextracker by 12.8% in the 4th quarter. Deutsche Bank AG now owns 2,152,084 shares of the company's stock worth $78,616,000 after purchasing an additional 244,725 shares during the period. Institutional investors own 67.41% of the company's stock.
Nextracker Stock Performance
Shares of NXT stock traded down $1.04 during trading hours on Thursday, reaching $57.84. The company had a trading volume of 942,000 shares, compared to its average volume of 2,538,658. The business has a fifty day moving average price of $59.89 and a 200-day moving average price of $49.88. Nextracker Inc. has a one year low of $30.93 and a one year high of $67.87. The firm has a market cap of $8.46 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 1.59 and a beta of 2.25.
Insider Activity at Nextracker
In related news, President Howard Wenger sold 5,216 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $65.00, for a total transaction of $339,040.00. Following the completion of the sale, the president directly owned 419,959 shares in the company, valued at approximately $27,297,335. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bruce Ledesma sold 83,561 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $55.71, for a total transaction of $4,655,183.31. Following the sale, the insider owned 195,790 shares of the company's stock, valued at $10,907,460.90. This trade represents a 29.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 210,476 shares of company stock valued at $12,169,880. Insiders own 0.56% of the company's stock.
Wall Street Analyst Weigh In
NXT has been the subject of several research analyst reports. Northland Securities reaffirmed a "market perform" rating on shares of Nextracker in a research report on Wednesday. Robert W. Baird lifted their price target on shares of Nextracker from $67.00 to $76.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Mizuho set a $66.00 price target on shares of Nextracker in a research report on Wednesday. UBS Group reissued a "buy" rating and set a $75.00 price target (up from $71.00) on shares of Nextracker in a research report on Thursday. Finally, Cowen reissued a "hold" rating on shares of Nextracker in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Nextracker currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.95.
Read Our Latest Analysis on NXT
Nextracker Profile
(
Free Report)
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.
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