Atala Financial Inc Takes Position in Nextracker Inc. (NASDAQ:NXT)

Atala Financial Inc bought a new stake in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 27,412 shares of the company's stock, valued at approximately $1,001,000.

Other large investors have also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Nextracker by 15.8% during the 3rd quarter. State Street Corp now owns 5,070,473 shares of the company's stock valued at $190,041,000 after acquiring an additional 690,343 shares during the last quarter. Geode Capital Management LLC lifted its position in Nextracker by 23.3% in 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 Nextracker by 25.5% in 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 Nextracker by 15.4% in 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 Nextracker by 36.0% in 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. 67.41% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at Nextracker

In related news, CAO David P. Bennett sold 9,801 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $49.90, for a total transaction of $489,069.90. Following the completion of the sale, the chief accounting officer now owns 124,577 shares in the company, valued at approximately $6,216,392.30. This trade represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bruce Ledesma sold 9,891 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $46.05, for a total value of $455,480.55. Following the sale, the insider now owns 132,374 shares of the company's stock, valued at $6,095,822.70. This represents a 6.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,758 shares of company stock worth $1,217,520. 0.27% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NXT has been the subject of a number of recent research reports. Citigroup dropped their target price on Nextracker from $50.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Piper Sandler lifted their price target on Nextracker from $47.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. BNP Paribas raised Nextracker to a "strong-buy" rating in a research note on Wednesday, January 29th. Guggenheim lifted their price target on Nextracker from $50.00 to $62.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $56.00 price target (up from $54.00) on shares of Nextracker in a research note on Wednesday, January 29th. Three equities research 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 stock. Based on data from MarketBeat.com, Nextracker presently has a consensus rating of "Moderate Buy" and an average price target of $56.50.

Nextracker Stock Down 1.9 %

Nextracker stock traded down $0.85 during mid-day trading on Friday, hitting $44.31. The company had a trading volume of 2,681,410 shares, compared to its average volume of 3,080,969. The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 0.10. The stock's 50 day moving average price is $44.72 and its two-hundred day moving average price is $39.61. Nextracker Inc. has a 12 month low of $30.93 and a 12 month high of $62.31. The company has a market capitalization of $6.45 billion, a PE ratio of 11.27 and a beta of 2.24.

Nextracker (NASDAQ:NXT - Get Free Report) last announced its quarterly earnings results 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%. As a group, sell-side analysts anticipate that Nextracker Inc. will post 3.29 earnings per share for the current fiscal year.

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.