Atala Financial Inc Purchases New Stake in Nextracker Inc. (NASDAQ:NXT)

Atala Financial Inc purchased a new stake in Nextracker Inc. (NASDAQ:NXT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 27,412 shares of the company's stock, valued at approximately $1,001,000.

A number of other institutional investors have also recently made changes to their positions in the business. State Street Corp grew its holdings in shares of Nextracker by 15.8% in the third quarter. State Street Corp now owns 5,070,473 shares of the company's stock valued at $190,041,000 after purchasing an additional 690,343 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Nextracker by 23.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,593,938 shares of the company's stock worth $134,724,000 after buying an additional 679,272 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Nextracker by 25.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,392,992 shares of the company's stock worth $127,169,000 after buying an additional 688,810 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Nextracker by 15.4% during the 3rd quarter. Victory Capital Management Inc. now owns 2,367,636 shares of the company's stock worth $88,739,000 after buying an additional 315,199 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of Nextracker by 36.0% during the 4th quarter. Handelsbanken Fonder AB now owns 2,278,217 shares of the company's stock worth $83,223,000 after buying an additional 602,600 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company's stock.

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Insiders Place Their Bets

In other news, insider Bruce Ledesma sold 9,891 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $46.05, for a total transaction of $455,480.55. Following the transaction, the insider now directly owns 132,374 shares in the company, valued at $6,095,822.70. This represents a 6.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Howard Wenger sold 6,066 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $45.00, for a total transaction of $272,970.00. Following the transaction, the president now owns 209,365 shares in the company, valued at approximately $9,421,425. The trade was a 2.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,758 shares of company stock valued at $1,217,520 in the last ninety days. Insiders own 0.27% of the company's stock.

Nextracker Trading Up 1.9 %

Shares of Nextracker stock traded up $0.83 during mid-day trading on Monday, hitting $45.14. 435,985 shares of the stock were exchanged, compared to its average volume of 3,070,497. Nextracker Inc. has a twelve month low of $30.93 and a twelve month high of $62.31. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 11.49 and a beta of 2.24. The company has a 50-day simple moving average of $44.72 and a 200 day simple moving average of $39.60. The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 0.10.

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

Analyst Ratings Changes

NXT has been the subject of several research reports. The Goldman Sachs Group upped their price target on shares of Nextracker from $54.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Citigroup reduced their price target on shares of Nextracker from $50.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Truist Financial reiterated 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. Jefferies Financial Group upgraded shares of Nextracker from a "hold" rating to a "buy" rating and upped their price objective for the stock from $46.00 to $56.00 in a research report on Wednesday, January 29th. Finally, UBS Group upped their price target on shares of Nextracker from $60.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $56.43.

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.