nLight $LASR Holdings Decreased by Zevenbergen Capital Investments LLC

Key Points

• Zevenbergen Capital Investments cut its nLight stake by 72.9% in the third quarter, selling 244,974 shares and retaining 91,061 shares valued at approximately $3.55 million. Institutional investors collectively own 83.88% of the company.
• Analysts maintain a generally positive view, with nLight receiving a consensus rating of “Moderate Buy” and an average price target of $86.50, despite some rating downgrades.
• nLight’s shares recently traded at $38.31, well below their 12-month high of $86.95. The company nevertheless exceeded quarterly expectations, reporting $0.15 in EPS and $82.59 million in revenue, up 33.8% year over year.

Zevenbergen Capital Investments LLC lowered its stake in shares of nLight (NASDAQ:LASR - Free Report) by 72.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,061 shares of the company's stock after selling 244,974 shares during the quarter. Zevenbergen Capital Investments LLC owned about 0.16% of nLight worth $3,546,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Wealth Enhancement Trust Services Inc. grew its holdings in shares of nLight by 32,252.9% during the third quarter. Wealth Enhancement Trust Services Inc. now owns 5,500 shares of the company's stock valued at $214,000 after buying an additional 5,483 shares during the last quarter. Moody National Bank Trust Division raised its stake in nLight by 9.8% in the 3rd quarter. Moody National Bank Trust Division now owns 21,357 shares of the company's stock worth $832,000 after acquiring an additional 1,900 shares during the last quarter. Tidal Investments LLC raised its stake in nLight by 2,995.5% in the 2nd quarter. Tidal Investments LLC now owns 406,624 shares of the company's stock worth $28,309,000 after acquiring an additional 393,488 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in nLight during the 2nd quarter valued at about $175,000. Finally, Arizona State Retirement System increased its holdings in shares of nLight by 10.4% in the second quarter. Arizona State Retirement System now owns 14,625 shares of the company's stock valued at $1,018,000 after purchasing an additional 1,373 shares during the period. Hedge funds and other institutional investors own 83.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LASR. Craig Hallum upped their target price on nLight from $80.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of nLight in a report on Friday, July 17th. Northcoast Research set a $75.00 price objective on nLight and gave the company a "buy" rating in a research note on Wednesday. Wall Street Zen lowered nLight from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Finally, Needham & Company LLC raised their price objective on shares of nLight from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $86.50.

Insider Buying and Selling at nLight

In other news, CAO James Nias sold 1,025 shares of the company's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $40.69, for a total transaction of $41,707.25. Following the completion of the sale, the chief accounting officer owned 96,596 shares of the company's stock, valued at $3,930,491.24. This represents a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Geoffrey Moore sold 4,452 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $38.45, for a total transaction of $171,179.40. Following the completion of the sale, the director owned 85,717 shares of the company's stock, valued at $3,295,818.65. This trade represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 616,697 shares of company stock valued at $26,999,794. 3.10% of the stock is owned by company insiders.

nLight Price Performance

LASR stock traded down $1.57 during trading on Thursday, hitting $38.31. The stock had a trading volume of 1,181,627 shares, compared to its average volume of 1,382,247. The stock has a market capitalization of $2.21 billion, a P/E ratio of -153.24 and a beta of 2.37. The company's 50-day moving average price is $46.60 and its two-hundred day moving average price is $60.93. nLight has a twelve month low of $28.05 and a twelve month high of $86.95.

nLight (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.01. nLight had a negative return on equity of 2.83% and a negative net margin of 4.02%.The firm had revenue of $82.59 million for the quarter, compared to analyst estimates of $78.58 million. During the same period in the previous year, the company posted $0.06 earnings per share. The business's revenue was up 33.8% on a year-over-year basis. As a group, sell-side analysts expect that nLight will post -0.19 EPS for the current fiscal year.

nLight Company Profile

nLight, Inc is a photonics company that develops and manufactures semiconductor and fiber lasers, optical amplifiers, and related laser components and systems. Its products are designed for applications requiring high power, precision, reliability, and advanced beam control.

The company serves customers in industrial, microfabrication, aerospace and defense, and other specialized markets. Its technologies are used in areas such as materials processing, manufacturing, directed-energy systems, and other applications that rely on high-performance laser sources.

Founded in 2000 and headquartered in Vancouver, Washington, nLight operates internationally, with research, development, manufacturing, and sales activities serving customers across North America, Europe, and Asia.

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