Nextracker Inc. (NASDAQ:NXT) Shares Bought by New York State Teachers Retirement System

New York State Teachers Retirement System raised its holdings in Nextracker Inc. (NASDAQ:NXT - Free Report) by 18.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,005 shares of the company's stock after buying an additional 19,247 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Nextracker worth $5,268,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Shell Asset Management Co. grew its position in Nextracker by 0.4% during the fourth quarter. Shell Asset Management Co. now owns 57,329 shares of the company's stock valued at $2,094,000 after acquiring an additional 228 shares during the period. Fifth Third Bancorp lifted its stake in shares of Nextracker by 27.5% in the 1st quarter. Fifth Third Bancorp now owns 1,204 shares of the company's stock valued at $51,000 after purchasing an additional 260 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Nextracker by 14.7% during the 4th quarter. Signaturefd LLC now owns 2,344 shares of the company's stock worth $86,000 after purchasing an additional 301 shares during the period. State of Alaska Department of Revenue increased its position in Nextracker by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 16,830 shares of the company's stock worth $709,000 after purchasing an additional 440 shares in the last quarter. Finally, Mariner LLC raised its holdings in Nextracker by 4.3% in the fourth quarter. Mariner LLC now owns 11,328 shares of the company's stock valued at $414,000 after buying an additional 469 shares during the period. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Nextracker Price Performance

Shares of NXT stock traded up $0.14 on Monday, hitting $66.45. 3,895,592 shares of the stock traded hands, compared to its average volume of 2,684,339. The company's fifty day moving average is $55.04 and its 200 day moving average is $47.02. Nextracker Inc. has a 1-year low of $30.93 and a 1-year high of $67.81. The company has a market capitalization of $9.72 billion, a PE ratio of 19.15, a PEG ratio of 1.71 and a beta of 2.25.

Analysts Set New Price Targets

Several equities research analysts have issued reports 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 note on Tuesday, April 15th. Wells Fargo & Company upped their price target on shares of Nextracker from $69.00 to $71.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Truist Financial raised their price objective on Nextracker from $49.00 to $65.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Barclays upped their target price on Nextracker from $58.00 to $64.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, The Goldman Sachs Group raised their target price on Nextracker from $61.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Nextracker currently has a consensus rating of "Moderate Buy" and an average target price of $60.33.

Insider Buying and Selling at Nextracker

In other news, COO Nicholas Marco Miller sold 5,588 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $57.32, for a total value of $320,304.16. Following the transaction, the chief operating officer directly owned 170,000 shares in the company, valued at approximately $9,744,400. This trade represents a 3.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Howard Wenger sold 5,216 shares of Nextracker stock in a transaction dated 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 transaction, the president directly owned 419,959 shares of the company's stock, valued at $27,297,335. This trade represents a 1.23% decrease in their ownership of the stock. 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 ninety days. 0.56% of the stock is currently owned by company insiders.

Nextracker Company 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.