VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Nextracker Inc. $NXT

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Nextracker Inc. (NASDAQ:NXT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 17,588 shares of the company's stock, valued at approximately $956,000.

Other institutional investors and hedge funds have also modified their holdings of the company. New York State Teachers Retirement System lifted its holdings in shares of Nextracker by 18.2% in the 1st quarter. New York State Teachers Retirement System now owns 125,005 shares of the company's stock valued at $5,268,000 after buying an additional 19,247 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Nextracker in the 1st quarter valued at about $210,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Nextracker by 51.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,735 shares of the company's stock valued at $850,000 after buying an additional 6,693 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Nextracker by 189.8% in the 1st quarter. GAMMA Investing LLC now owns 2,736 shares of the company's stock valued at $115,000 after buying an additional 1,792 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Nextracker by 719.8% in the 1st quarter. KBC Group NV now owns 49,908 shares of the company's stock valued at $2,103,000 after buying an additional 43,820 shares during the period. Institutional investors and hedge funds own 67.41% of the company's stock.

Insider Transactions at Nextracker

In other Nextracker news, President Howard Wenger sold 5,217 shares of the business's stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $75.00, for a total transaction of $391,275.00. Following the completion of the sale, the president directly owned 409,039 shares in the company, valued at approximately $30,677,925. The trade was a 1.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bruce Ledesma sold 6,980 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $56.24, for a total value of $392,555.20. Following the sale, the insider 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,400 shares of company stock valued at $2,053,385 in the last 90 days. Corporate insiders own 0.56% of the company's stock.

Nextracker Trading Up 3.2%

NASDAQ:NXT opened at $90.38 on Friday. Nextracker Inc. has a 12 month low of $30.93 and a 12 month high of $93.90. The stock has a 50 day moving average of $73.96 and a two-hundred day moving average of $60.87. The firm has a market cap of $13.37 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 2.18 and a beta of 2.27.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Nextracker in a report on Tuesday, September 30th. They issued a "buy" rating and a $88.00 price objective for the company. UBS Group lifted their price target on Nextracker from $71.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Robert W. Baird lifted their price target on Nextracker from $67.00 to $76.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Northland Securities restated a "market perform" rating on shares of Nextracker in a research note on Wednesday, July 30th. Finally, Wall Street Zen upgraded Nextracker from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Nextracker presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.29.

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.

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