Janus Henderson Group PLC Raises Stock Holdings in Nextracker Inc. (NASDAQ:NXT)

Janus Henderson Group PLC increased its holdings in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,545,143 shares of the company's stock after buying an additional 15,942 shares during the period. Janus Henderson Group PLC owned about 1.06% of Nextracker worth $56,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Nextracker in the fourth quarter valued at about $106,166,000. Encompass Capital Advisors LLC acquired a new position in Nextracker in the 4th quarter valued at about $55,690,000. Invesco Ltd. increased its holdings in shares of Nextracker by 52.2% during the 4th quarter. Invesco Ltd. now owns 3,874,875 shares of the company's stock worth $141,549,000 after buying an additional 1,329,456 shares during the last quarter. Balyasny Asset Management L.P. raised its position in Nextracker by 8,408.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 837,067 shares of the company's stock valued at $30,578,000 after purchasing an additional 827,229 shares during the period. Finally, Robeco Schweiz AG purchased a new position in shares of Nextracker during the 4th quarter worth $22,112,000. Institutional investors and hedge funds own 67.41% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group increased their target price on shares of Nextracker from $61.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday. TD Cowen raised their price objective on shares of Nextracker from $47.00 to $55.00 and gave the stock a "hold" rating in a report on Thursday. Roth Capital reaffirmed a "buy" rating and set a $70.00 price objective (up previously from $55.00) on shares of Nextracker in a report on Thursday. Truist Financial raised their target price on shares of Nextracker from $49.00 to $65.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Mizuho set a $60.00 price target on shares of Nextracker in a research note on Thursday. Five investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

Insider Activity at Nextracker

In other news, President Howard Wenger sold 6,066 shares of the firm'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 $333,630.00. Following the completion of the transaction, the president now owns 219,389 shares in the company, valued at $12,066,395. This trade represents a 2.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO David P. Bennett sold 9,801 shares of Nextracker 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 transaction, the chief accounting officer now directly owns 124,615 shares of the company's stock, valued at $6,853,825. This trade represents a 7.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,320 shares of company stock worth $2,524,532 over the last 90 days. Company insiders own 0.27% of the company's stock.

Nextracker Price Performance

Shares of NASDAQ NXT traded down $1.88 during trading on Monday, hitting $57.43. 892,185 shares of the company were exchanged, compared to its average volume of 2,918,615. 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 1 year low of $30.93 and a 1 year high of $63.19. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 14.62 and a beta of 2.03. The firm's fifty day moving average price is $43.44 and its 200 day moving average price is $42.10.

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.