Nextracker Inc. (NASDAQ:NXT) Shares Acquired by Robeco Schweiz AG

Robeco Schweiz AG grew its holdings in Nextracker Inc. (NASDAQ:NXT - Free Report) by 63.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 990,591 shares of the company's stock after buying an additional 385,291 shares during the quarter. Robeco Schweiz AG owned about 0.68% of Nextracker worth $41,744,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NXT. Sterling Capital Management LLC raised its holdings in Nextracker by 448.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,290 shares of the company's stock worth $47,000 after purchasing an additional 1,055 shares during the last quarter. Virtus Fund Advisers LLC acquired a new position in Nextracker during the fourth quarter worth $47,000. Millstone Evans Group LLC acquired a new position in Nextracker during the fourth quarter worth $48,000. Fifth Third Bancorp raised its holdings in Nextracker by 27.5% during the first quarter. Fifth Third Bancorp now owns 1,204 shares of the company's stock worth $51,000 after purchasing an additional 260 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in Nextracker by 127.2% during the first quarter. UMB Bank n.a. now owns 1,504 shares of the company's stock worth $63,000 after purchasing an additional 842 shares during the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Nextracker

In other news, President Howard Wenger sold 5,216 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was 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 approximately $27,297,335. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruce Ledesma sold 83,561 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $55.71, for a total value of $4,655,183.31. Following the completion of the transaction, the insider directly 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 ninety days, insiders have sold 210,476 shares of company stock worth $12,169,880. 0.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Guggenheim downgraded Nextracker from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 14th. The Goldman Sachs Group raised their price target on Nextracker from $61.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Susquehanna raised their price target on Nextracker from $54.00 to $66.00 and gave the stock a "positive" rating in a research report on Thursday, May 15th. BMO Capital Markets raised their price target on Nextracker from $51.00 to $59.00 and gave the stock a "market perform" rating in a research report on Thursday, May 15th. Finally, Wall Street Zen raised Nextracker from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $61.67.

Nextracker Stock Performance

NASDAQ:NXT opened at $62.62 on Friday. Nextracker Inc. has a one year low of $30.93 and a one year high of $67.87. The business's 50-day simple moving average is $56.81 and its 200 day simple moving average is $47.65. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.65 and a beta of 2.25.

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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