Nextracker Inc. (NASDAQ:NXT) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its holdings in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,309 shares of the company's stock after selling 4,859 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.11% of Nextracker worth $5,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lloyd Harbor Capital Management LLC bought a new stake in shares of Nextracker in the 4th quarter valued at about $2,922,000. Janus Henderson Group PLC raised its position in shares of Nextracker by 1.0% in the 4th quarter. Janus Henderson Group PLC now owns 1,545,143 shares of the company's stock valued at $56,488,000 after purchasing an additional 15,942 shares during the last quarter. K2 Principal Fund L.P. purchased a new position in shares of Nextracker in the 4th quarter valued at approximately $731,000. Goodlander Investment Management LLC purchased a new position in shares of Nextracker in the 4th quarter valued at approximately $18,996,000. Finally, Gotham Asset Management LLC purchased a new position in shares of Nextracker in the 4th quarter valued at approximately $3,082,000. 67.41% of the stock is currently owned by institutional investors.

Nextracker Price Performance

NASDAQ:NXT remained flat at $56.05 on Friday. 1,882,388 shares of the company's stock were exchanged, compared to its average volume of 2,902,625. Nextracker Inc. has a one year low of $30.93 and a one year high of $63.19. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 14.26 and a beta of 2.03. 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 business has a 50-day simple moving average of $44.70 and a two-hundred day simple moving average of $42.64.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NXT shares. Robert W. Baird decreased their price objective on shares of Nextracker from $59.00 to $48.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Guggenheim cut shares of Nextracker from a "buy" rating to a "neutral" rating in a research note on Wednesday, May 14th. Mizuho set a $60.00 price objective on shares of Nextracker in a research note on Thursday, May 15th. JPMorgan Chase & Co. raised their price objective on shares of Nextracker from $58.00 to $61.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Finally, Susquehanna raised their price objective on shares of Nextracker from $54.00 to $66.00 and gave the stock a "positive" rating in a research note on Thursday, May 15th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Nextracker presently has a consensus rating of "Moderate Buy" and an average target price of $60.00.

Insider Transactions at Nextracker

In other news, insider Bruce Ledesma sold 3,017 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $55.95, for a total transaction of $168,801.15. Following the completion of the transaction, the insider now directly owns 110,564 shares of the company's stock, valued at approximately $6,186,055.80. The trade was a 2.66% 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, CAO David P. Bennett sold 9,801 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $55.00, for a total value of $539,055.00. Following the completion of the transaction, the chief accounting officer now directly owns 124,615 shares of the company's stock, 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. Over the last ninety days, insiders sold 46,337 shares of company stock valued at $2,693,333. 0.27% of the stock is currently owned by corporate insiders.

About Nextracker

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.