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

Victory Capital Management Inc. reduced its position in Nextracker Inc. (NASDAQ:NXT) by 23.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,800,869 shares of the company’s stock after selling 566,767 shares during the quarter. Victory Capital Management Inc. owned about 1.24% of Nextracker worth $65,786,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its stake in Nextracker by 52.4% during the 4th quarter. Allworth Financial LP now owns 803 shares of the company’s stock worth $29,000 after acquiring an additional 276 shares in the last quarter. Quarry LP lifted its stake in Nextracker by 61.5% during the 3rd quarter. Quarry LP now owns 1,119 shares of the company’s stock worth $42,000 after acquiring an additional 426 shares in the last quarter. Principal Securities Inc. lifted its stake in Nextracker by 41.8% during the 4th quarter. Principal Securities Inc. now owns 1,390 shares of the company’s stock worth $51,000 after acquiring an additional 410 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Nextracker by 38.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company’s stock worth $68,000 after acquiring an additional 516 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Nextracker in the 3rd quarter valued at about $74,000. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Truist Financial reaffirmed a “buy” rating and issued a $56.00 price target (up previously from $54.00) on shares of Nextracker in a research report on Wednesday, January 29th. Wells Fargo & Company reduced their price target on Nextracker from $70.00 to $69.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group increased their price target on Nextracker from $54.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. TD Cowen assumed coverage on Nextracker in a research report on Thursday, December 19th. They issued a “hold” rating and a $41.00 price target on the stock. Finally, Northland Capmk raised Nextracker to a “strong-buy” rating in a research report on Tuesday, November 19th. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.50.

Nextracker Trading Down 1.3 %

NXT opened at $41.56 on Friday. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 10.58 and a beta of 2.14. Nextracker Inc. has a 52 week low of $30.93 and a 52 week high of $62.31. The business’s 50 day moving average is $44.09 and its two-hundred day moving average is $39.50. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10.

Nextracker (NASDAQ:NXT) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.58 by $0.31. Nextracker had a return on equity of 41.22% and a net margin of 20.12%. On average, research analysts predict that Nextracker Inc. will post 3.29 EPS for the current year.

Insiders Place Their Bets

In other news, insider Bruce Ledesma sold 9,891 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $46.05, for a total value of $455,480.55. Following the transaction, the insider now owns 132,374 shares of the company’s stock, valued at approximately $6,095,822.70. The trade was a 6.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Howard Wenger sold 6,066 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $45.00, for a total value of $272,970.00. Following the completion of the transaction, the president now directly owns 209,365 shares in the company, valued at approximately $9,421,425. The trade was a 2.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,758 shares of company stock valued at $1,217,520 over the last quarter. Company insiders own 0.27% of the company’s stock.

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.