Nextracker Inc. $NXT Shares Acquired by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its holdings in Nextracker Inc. by 19.8% in Q1, now owning 90,394 shares valued at approximately $3.8 million.
• Insider trades revealed that Bruce Ledesma sold 6,980 shares worth $392,555, reducing his ownership by 3.44%, while COO Nicholas Marco Miller sold 5,588 shares valued at $320,304, decreasing his holding by 3.18%.
• Nextracker stock has seen analyst upgrades, with price targets raised by firms like TD Cowen and Bank of America, reflecting a consensus rating of "Moderate Buy" with a target of $65.00.

Intech Investment Management LLC increased its holdings in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 19.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,394 shares of the company's stock after purchasing an additional 14,951 shares during the period. Intech Investment Management LLC owned 0.06% of Nextracker worth $3,809,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Nextracker by 703.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the company's stock valued at $28,000 after buying an additional 577 shares during the last quarter. Summit Securities Group LLC increased its position in Nextracker by 796.0% in the 1st quarter. Summit Securities Group LLC now owns 905 shares of the company's stock valued at $38,000 after acquiring an additional 804 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Nextracker during the 1st quarter valued at approximately $40,000. Fifth Third Bancorp lifted its position in Nextracker by 27.5% during the 1st quarter. Fifth Third Bancorp now owns 1,204 shares of the company's stock worth $51,000 after acquiring an additional 260 shares during the period. Finally, Virtus Fund Advisers LLC purchased a new position in shares of Nextracker in the 4th quarter valued at approximately $47,000. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Nextracker

In other Nextracker news, insider Bruce Ledesma sold 6,980 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $56.24, for a total transaction of $392,555.20. Following the sale, the insider directly owned 195,790 shares in the company, valued at approximately $11,011,229.60. The trade was a 3.44% 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 this link. Also, COO Nicholas Marco Miller sold 5,588 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $57.32, for a total value of $320,304.16. Following the completion of the sale, the chief operating officer directly owned 170,000 shares in the company, valued at $9,744,400. This trade represents a 3.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,487 shares of company stock worth $2,019,009. 0.56% of the stock is currently owned by insiders.

Nextracker Trading Down 1.2%

Shares of Nextracker stock opened at $66.70 on Friday. The company has a 50-day moving average of $62.96 and a two-hundred day moving average of $53.81. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $71.44. The stock has a market cap of $9.87 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 1.57 and a beta of 2.26.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NXT. TD Cowen upped their price target on Nextracker from $55.00 to $65.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Bank of America upped their price objective on shares of Nextracker from $66.00 to $69.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Susquehanna raised their target price on shares of Nextracker from $66.00 to $76.00 and gave the stock a "positive" rating in a research note on Monday, July 21st. Northland Capmk lowered shares of Nextracker from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Finally, Mizuho set a $66.00 price target on shares of Nextracker in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Nextracker currently has an average rating of "Moderate Buy" and a consensus price target of $65.00.

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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