Nuveen Asset Management LLC Sells 27,251 Shares of Nextracker Inc. (NASDAQ:NXT)

Nuveen Asset Management LLC lowered its position in Nextracker Inc. (NASDAQ:NXT - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,128,152 shares of the company's stock after selling 27,251 shares during the period. Nuveen Asset Management LLC owned about 0.77% of Nextracker worth $41,211,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP grew its stake in Nextracker by 52.4% in the 4th quarter. Allworth Financial LP now owns 803 shares of the company's stock valued at $29,000 after purchasing an additional 276 shares during the period. Sterling Capital Management LLC grew its stake in Nextracker by 448.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,290 shares of the company's stock valued at $47,000 after purchasing an additional 1,055 shares during the period. Millstone Evans Group LLC bought a new position in Nextracker in the 4th quarter valued at $48,000. Principal Securities Inc. grew its stake in Nextracker by 41.8% in the 4th quarter. Principal Securities Inc. now owns 1,390 shares of the company's stock valued at $51,000 after purchasing an additional 410 shares during the period. Finally, Quadrant Capital Group LLC grew its stake in Nextracker by 92.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,817 shares of the company's stock valued at $66,000 after purchasing an additional 873 shares during the period. Hedge funds and other institutional investors own 67.41% of the company's stock.

Nextracker Price Performance

Shares of NASDAQ NXT remained flat at $56.05 during trading hours on Monday. The company had a trading volume of 1,882,388 shares, compared to its average volume of 2,902,625. The stock has a market cap of $8.16 billion, a P/E ratio of 14.26 and a beta of 2.03. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.20 and a quick ratio of 1.96. Nextracker Inc. has a 52 week low of $30.93 and a 52 week high of $63.19. The business's 50-day moving average is $44.92 and its 200-day moving average is $42.76.

Insider Activity at Nextracker

In related news, insider Bruce Ledesma sold 27,453 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $60.17, for a total transaction of $1,651,847.01. Following the transaction, the insider now directly owns 120,972 shares in the company, valued at $7,278,885.24. This trade represents a 18.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David P. Bennett sold 9,801 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $55.00, for a total value of $539,055.00. Following the transaction, the chief accounting officer now owns 124,615 shares in the company, valued at approximately $6,853,825. The trade was a 7.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,337 shares of company stock valued at $2,693,333. Corporate insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NXT shares. Wall Street Zen upgraded Nextracker from a "hold" rating to a "buy" rating in a research note on Thursday. Bank of America increased their price target on Nextracker from $55.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Wells Fargo & Company increased their price target on Nextracker from $69.00 to $71.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Susquehanna increased their price target on Nextracker from $54.00 to $66.00 and gave the stock a "positive" rating in a research note on Thursday, May 15th. Finally, Roth Capital reiterated a "buy" rating and set a $70.00 price target (up previously from $55.00) on shares of Nextracker in a research note on Thursday, May 15th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Nextracker has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

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.