American Century Companies Inc. Has $2.79 Million Stock Position in Nextracker Inc. (NASDAQ:NXT)

American Century Companies Inc. grew its stake in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 52.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,414 shares of the company's stock after buying an additional 26,196 shares during the period. American Century Companies Inc. owned 0.05% of Nextracker worth $2,791,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NXT. Millstone Evans Group LLC purchased a new stake in shares of Nextracker during the 4th quarter valued at $48,000. Trillium Asset Management LLC grew its stake in Nextracker by 51.3% during the 4th quarter. Trillium Asset Management LLC now owns 128,313 shares of the company's stock valued at $4,687,000 after purchasing an additional 43,497 shares in the last quarter. Xponance Inc. increased its stake in shares of Nextracker by 4.5% in the fourth quarter. Xponance Inc. now owns 20,872 shares of the company's stock worth $762,000 after buying an additional 895 shares during the last quarter. Tocqueville Asset Management L.P. increased its holdings in Nextracker by 2.0% in the fourth quarter. Tocqueville Asset Management L.P. now owns 45,155 shares of the company's stock valued at $1,650,000 after buying an additional 898 shares during the last quarter. Finally, Signaturefd LLC increased its stake in Nextracker by 14.7% during the fourth quarter. Signaturefd LLC now owns 2,344 shares of the company's stock valued at $86,000 after purchasing an additional 301 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company's stock.

Insider Buying and Selling

In other Nextracker news, CAO David P. Bennett sold 9,801 shares of the company's stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $49.90, for a total transaction of $489,069.90. Following the sale, the chief accounting officer now directly owns 124,577 shares of the company's stock, valued at approximately $6,216,392.30. This represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Howard Wenger sold 6,066 shares of Nextracker stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $45.00, for a total transaction of $272,970.00. Following the completion of the transaction, the president now owns 209,365 shares of the company's stock, valued at $9,421,425. This trade represents a 2.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,758 shares of company stock worth $1,217,520 in the last 90 days. 0.27% of the stock is owned by company insiders.

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Analysts Set New Price Targets

Several brokerages have weighed in on NXT. BMO Capital Markets increased their target price on Nextracker from $48.00 to $50.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 29th. Susquehanna lifted their price target on Nextracker from $50.00 to $54.00 and gave the company a "positive" rating in a research report on Wednesday, January 29th. TD Cowen started coverage on Nextracker in a research note on Thursday, December 19th. They set a "hold" rating and a $41.00 target price for the company. BNP Paribas raised Nextracker to a "strong-buy" rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Nextracker from $58.00 to $61.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Nextracker currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.05.

Nextracker Stock Performance

Shares of NASDAQ:NXT traded up $1.48 on Friday, hitting $39.23. 1,660,747 shares of the company were exchanged, compared to its average volume of 3,058,759. The company's 50 day moving average price is $43.83 and its two-hundred day moving average price is $40.32. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 9.98 and a beta of 2.02. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.96 and a current ratio of 2.20. Nextracker Inc. has a one year low of $30.93 and a one year high of $62.31.

Nextracker (NASDAQ:NXT - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.31. Nextracker had a return on equity of 41.22% and a net margin of 20.12%. Research analysts expect that Nextracker Inc. will post 3.29 earnings per share for the current year.

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.