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Lbp Am Sa Sells 17,839 Shares of Nextracker Inc. (NASDAQ:NXT)

Nextracker logo with Energy background

Lbp Am Sa cut its holdings in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 34.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,520 shares of the company's stock after selling 17,839 shares during the quarter. Lbp Am Sa's holdings in Nextracker were worth $1,455,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Fifth Third Bancorp lifted its holdings in shares of Nextracker by 27.5% in the first quarter. Fifth Third Bancorp now owns 1,204 shares of the company's stock worth $51,000 after buying an additional 260 shares in the last quarter. Sterling Capital Management LLC increased its holdings in Nextracker by 448.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,290 shares of the company's stock valued at $47,000 after acquiring an additional 1,055 shares during the last quarter. Virtus Fund Advisers LLC bought a new stake in Nextracker in the 4th quarter valued at $47,000. Millstone Evans Group LLC purchased a new stake in Nextracker in the 4th quarter worth $48,000. Finally, UMB Bank n.a. boosted its holdings in shares of Nextracker by 127.2% during the 1st quarter. UMB Bank n.a. now owns 1,504 shares of the company's stock valued at $63,000 after purchasing an additional 842 shares during the last quarter. Institutional investors own 67.41% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on NXT shares. Susquehanna boosted their target price on Nextracker from $54.00 to $66.00 and gave the stock a "positive" rating in a research report on Thursday, May 15th. Guggenheim cut Nextracker from a "buy" rating to a "neutral" rating in a report on Wednesday, May 14th. Robert W. Baird increased their target price on Nextracker from $67.00 to $76.00 and gave the company an "outperform" rating in a research report on Tuesday. Roth Capital restated a "buy" rating and issued a $70.00 price target (up previously from $55.00) on shares of Nextracker in a research report on Thursday, May 15th. Finally, Truist Financial increased their price objective on shares of Nextracker from $49.00 to $65.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Nextracker currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.67.

Get Our Latest Analysis on NXT

Nextracker Price Performance

Shares of NASDAQ:NXT opened at $62.62 on Friday. The firm has a market capitalization of $9.16 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 1.65 and a beta of 2.25. The business has a 50 day simple moving average of $56.81 and a two-hundred day simple moving average of $47.65. Nextracker Inc. has a 1 year low of $30.93 and a 1 year high of $67.87.

Insiders Place Their Bets

In other news, insider Bruce Ledesma sold 83,561 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $55.71, for a total value of $4,655,183.31. Following the transaction, the insider directly owned 195,790 shares in the company, valued at approximately $10,907,460.90. This represents a 29.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO David P. Bennett sold 9,801 shares of the firm's 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 completion of the transaction, the chief accounting officer directly owned 124,615 shares in the company, valued at $6,853,825. This represents a 7.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 210,476 shares of company stock worth $12,169,880 in the last 90 days. 0.56% of the stock is owned by insiders.

Nextracker Company 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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Institutional Ownership by Quarter for Nextracker (NASDAQ:NXT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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