197,785 Shares in Nextracker Inc. (NASDAQ:NXT) Bought by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake in Nextracker Inc. worth approximately $8.34 million, holding about 0.14% of the company as of their latest SEC filing.
• Institutional investors now own 67.41% of Nextracker, with various funds significantly increasing their positions, including Sterling Capital Management boosting its stake by 448.9%.
• Nextracker's stock has received several upgrades from analysts, with price targets being increased to as high as $76.00, while the stock currently trades around $64.53.

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Nextracker Inc. (NASDAQ:NXT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 197,785 shares of the company's stock, valued at approximately $8,335,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.14% of Nextracker as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System raised its stake in shares of Nextracker by 18.2% during the 1st quarter. New York State Teachers Retirement System now owns 125,005 shares of the company's stock worth $5,268,000 after buying an additional 19,247 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Nextracker during the 1st quarter worth $210,000. Allspring Global Investments Holdings LLC grew its stake in shares of Nextracker by 51.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 19,735 shares of the company's stock worth $850,000 after purchasing an additional 6,693 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Nextracker by 189.8% during the first quarter. GAMMA Investing LLC now owns 2,736 shares of the company's stock valued at $115,000 after purchasing an additional 1,792 shares during the last quarter. Finally, KBC Group NV lifted its stake in Nextracker by 719.8% in the 1st quarter. KBC Group NV now owns 49,908 shares of the company's stock worth $2,103,000 after acquiring an additional 43,820 shares in the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.

Nextracker Stock Performance

Shares of NXT traded down $6.02 during mid-day trading on Wednesday, hitting $58.88. The company's stock had a trading volume of 8,071,072 shares, compared to its average volume of 2,250,965. The stock's 50-day moving average is $59.89 and its two-hundred day moving average is $49.88. The firm has a market capitalization of $8.61 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 1.59 and a beta of 2.25. Nextracker Inc. has a one year low of $30.93 and a one year high of $67.87.

Insider Transactions at Nextracker

In other news, President Howard Wenger sold 6,066 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $55.00, for a total transaction of $333,630.00. Following the completion of the sale, the president directly owned 219,389 shares in the company, valued at approximately $12,066,395. This represents a 2.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO David P. Bennett sold 9,801 shares of the company's stock in a transaction 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 sale, the chief accounting officer owned 124,615 shares of the company's stock, valued at approximately $6,853,825. This represents a 7.29% 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 insiders.

Analysts Set New Price Targets

NXT has been the topic of a number of research reports. Cowen restated a "hold" rating on shares of Nextracker in a report on Wednesday. BMO Capital Markets raised their target price on Nextracker from $51.00 to $59.00 and gave the company a "market perform" rating in a report on Thursday, May 15th. Guggenheim lowered Nextracker from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 14th. The Goldman Sachs Group boosted their target price on Nextracker from $61.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Northland Securities restated a "market perform" rating on shares of Nextracker in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $63.29.

About Nextracker

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.