Villanova Investment Management Co LLC Purchases Shares of 11,327 Nextracker Inc. $NXT

Key Points

• Villanova Investment Management Co LLC acquired a new stake in Nextracker Inc., purchasing 11,327 shares valued at approximately $477,000 during the first quarter.
• Insider selling activity was noted, with Director William D. Watkins selling 10,000 shares for $567,900, leading to a 56.61% decrease in their position.
• Nextracker's stock has shown a recent increase of 5.1%, with current trading around $67.59 and a price target average of $65.00 from analysts.

Villanova Investment Management Co LLC purchased a new stake in Nextracker Inc. (NASDAQ:NXT - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 11,327 shares of the company's stock, valued at approximately $477,000.

Several other hedge funds also recently made changes to their positions in NXT. Wellington Management Group LLP grew its position in shares of Nextracker by 56.5% in the first quarter. Wellington Management Group LLP now owns 5,237,833 shares of the company's stock valued at $220,722,000 after purchasing an additional 1,890,445 shares in the last quarter. Encompass Capital Advisors LLC grew its position in Nextracker by 72.5% during the first quarter. Encompass Capital Advisors LLC now owns 2,630,114 shares of the company's stock worth $110,833,000 after buying an additional 1,105,617 shares in the last quarter. Nuveen LLC purchased a new position in Nextracker during the first quarter worth about $40,356,000. T. Rowe Price Investment Management Inc. purchased a new position in Nextracker during the first quarter worth about $38,699,000. Finally, Pacer Advisors Inc. grew its position in Nextracker by 3,773.2% during the first quarter. Pacer Advisors Inc. now owns 829,367 shares of the company's stock worth $34,950,000 after buying an additional 807,954 shares in the last quarter. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, President Howard Wenger sold 5,703 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $70.00, for a total value of $399,210.00. Following the completion of the sale, the president owned 414,256 shares of the company's stock, valued at approximately $28,997,920. The trade was a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bruce Ledesma sold 6,980 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $56.24, for a total value of $392,555.20. Following the completion of the sale, the insider directly owned 195,790 shares of the company's stock, valued at approximately $11,011,229.60. This trade represents a 3.44% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,487 shares of company stock worth $2,019,009. Insiders own 0.56% of the company's stock.

Nextracker Trading Down 1.2%

Shares of NXT traded down $0.80 during midday trading on Friday, reaching $66.70. The stock had a trading volume of 1,460,700 shares, compared to its average volume of 2,325,439. The company's 50-day moving average is $62.96 and its 200 day moving average is $53.81. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $71.44. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 1.57 and a beta of 2.26.

Wall Street Analyst Weigh In

Several research firms recently commented on NXT. Barclays restated an "overweight" rating and set a $69.00 target price (up from $64.00) on shares of Nextracker in a research report on Thursday, July 31st. Guggenheim upgraded Nextracker from a "neutral" rating to a "buy" rating and set a $74.00 target price for the company in a research report on Monday, August 18th. Northland Capmk cut Nextracker from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Zacks Research upgraded Nextracker to a "hold" rating in a research report on Tuesday, August 12th. Finally, Cowen restated a "hold" rating on shares of Nextracker in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Nextracker currently has an average rating of "Moderate Buy" and an average price target of $65.00.

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.