Natural Investments LLC Sells 10,937 Shares of Nextracker Inc. $NXT

Key Points

• Natural Investments LLC has sold 10,937 shares of Nextracker Inc., reducing its holdings by 39.7%, leaving it with a total of 16,595 shares valued at approximately $902,000.
• Analysts have generally positive outlooks for Nextracker, with Bank of America raising its target price from $66.00 to $69.00, while Barclays and Goldman Sachs set even higher targets of $92.00 and $89.00, respectively.
• Insider transactions revealed that President Howard Wenger sold 5,703 shares at $70.00, and Director William D. Watkins sold 10,000 shares at $56.79, indicating significant activity among the company's leadership.

Natural Investments LLC reduced its holdings in Nextracker Inc. (NASDAQ:NXT - Free Report) by 39.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,595 shares of the company's stock after selling 10,937 shares during the period. Natural Investments LLC's holdings in Nextracker were worth $902,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. New York State Teachers Retirement System grew its position in shares of Nextracker by 18.2% in the 1st quarter. New York State Teachers Retirement System now owns 125,005 shares of the company's stock valued at $5,268,000 after acquiring an additional 19,247 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in shares of Nextracker in the 1st quarter valued at about $210,000. Allspring Global Investments Holdings LLC grew its position in shares of Nextracker by 51.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,735 shares of the company's stock valued at $850,000 after acquiring an additional 6,693 shares during the period. GAMMA Investing LLC lifted its stake in shares of Nextracker by 189.8% during the 1st quarter. GAMMA Investing LLC now owns 2,736 shares of the company's stock worth $115,000 after buying an additional 1,792 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Nextracker by 719.8% during the 1st quarter. KBC Group NV now owns 49,908 shares of the company's stock worth $2,103,000 after buying an additional 43,820 shares during the last quarter. Institutional investors own 67.41% of the company's stock.

Insider Transactions at Nextracker

In other news, President Howard Wenger sold 5,703 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $70.00, for a total value of $399,210.00. Following the completion of the transaction, the president owned 414,256 shares of the company's stock, valued at $28,997,920. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William D. Watkins sold 10,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $56.79, for a total value of $567,900.00. Following the transaction, the director owned 7,666 shares of the company's stock, valued at $435,352.14. This trade represents a 56.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,400 shares of company stock worth $2,053,385. 0.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NXT shares. Bank of America raised their target price on shares of Nextracker from $66.00 to $69.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Barclays restated an "overweight" rating and set a $92.00 target price on shares of Nextracker in a research note on Thursday, October 2nd. The Goldman Sachs Group raised their price target on shares of Nextracker from $79.00 to $89.00 and gave the stock a "buy" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on shares of Nextracker in a research report on Tuesday, September 30th. They set a "buy" rating and a $88.00 price target on the stock. Finally, Robert W. Baird increased their price objective on shares of Nextracker from $67.00 to $76.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Nextracker has a consensus rating of "Moderate Buy" and a consensus target price of $69.15.

Nextracker Price Performance

Nextracker stock opened at $82.80 on Friday. The business has a 50 day moving average of $67.93 and a 200-day moving average of $57.96. Nextracker Inc. has a 1 year low of $30.93 and a 1 year high of $86.39. The company has a market capitalization of $12.25 billion, a P/E ratio of 22.56, a P/E/G ratio of 2.61 and a beta of 2.27.

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.

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