Nextracker Inc. (NASDAQ:NXT) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 31.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,689,656 shares of the company's stock after acquiring an additional 404,146 shares during the period. Victory Capital Management Inc. owned 1.05% of Nextracker worth $79,160,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NXT. Keybank National Association OH boosted its holdings in Nextracker by 7.1% in the 3rd quarter. Keybank National Association OH now owns 6,825 shares of the company's stock valued at $274,000 after purchasing an additional 455 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Nextracker by 3.4% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,239 shares of the company's stock valued at $652,000 after purchasing an additional 541 shares during the last quarter. Tucker Asset Management LLC acquired a new position in Nextracker in the 3rd quarter valued at about $42,000. Global Retirement Partners LLC acquired a new position in Nextracker in the 4th quarter valued at about $63,000. Finally, Moody Aldrich Partners LLC boosted its holdings in Nextracker by 3.7% in the 3rd quarter. Moody Aldrich Partners LLC now owns 61,916 shares of the company's stock valued at $2,487,000 after purchasing an additional 2,200 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company's stock.

Nextracker Price Performance

Shares of NXT traded up $2.42 during midday trading on Friday, reaching $46.10. The stock had a trading volume of 2,192,362 shares, compared to its average volume of 3,181,561. Nextracker Inc. has a 1-year low of $29.56 and a 1-year high of $62.14. The company's fifty day simple moving average is $52.61 and its two-hundred day simple moving average is $47.11. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 0.38 and a beta of 2.42.

Nextracker (NASDAQ:NXT - Get Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.37 by $0.51. Nextracker had a net margin of 4.48% and a negative return on equity of 5.98%. The firm had revenue of $710.43 million for the quarter, compared to analyst estimates of $615.53 million. On average, sell-side analysts forecast that Nextracker Inc. will post 2.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NXT shares. Cantor Fitzgerald boosted their target price on shares of Nextracker from $52.00 to $62.00 and gave the company an "overweight" rating in a report on Thursday, February 1st. Scotiabank decreased their price objective on shares of Nextracker from $55.00 to $50.00 and set a "sector outperform" rating on the stock in a report on Monday, April 29th. Mizuho decreased their price objective on shares of Nextracker from $64.00 to $59.00 and set a "buy" rating on the stock in a report on Friday, April 19th. Truist Financial upped their price objective on shares of Nextracker from $52.00 to $60.00 and gave the stock a "buy" rating in a report on Tuesday, January 23rd. Finally, Guggenheim decreased their price objective on shares of Nextracker from $73.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, April 23rd. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.17.

Insider Buying and Selling

In related news, insider Leah Schlesinger sold 2,149 shares of Nextracker stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $51.91, for a total transaction of $111,554.59. Following the sale, the insider now directly owns 11,910 shares in the company, valued at approximately $618,248.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Nextracker news, insider Leah Schlesinger sold 2,149 shares of Nextracker stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $51.91, for a total value of $111,554.59. Following the transaction, the insider now directly owns 11,910 shares in the company, valued at $618,248.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Nicholas Marco Miller sold 8,355 shares of the company's stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $52.67, for a total transaction of $440,057.85. Following the completion of the sale, the chief operating officer now directly owns 11,114 shares of the company's stock, valued at $585,374.38. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Nextracker Company Profile

Nextracker Inc, an energy solutions company, provides solar tracker and software solutions for utility-scale and ground-mounted distributed generation solar projects worldwide. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; NX Gemini, a two-in-portrait format tracker, which holds two rows of solar panels along the central support beam; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.