Charles Schwab Investment Management Inc. Acquires 10,162 Shares of Nextracker Inc. (NASDAQ:NXT)

Charles Schwab Investment Management Inc. lifted its stake in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,331,078 shares of the company's stock after acquiring an additional 10,162 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.91% of Nextracker worth $48,624,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp boosted its holdings in Nextracker by 115.1% during the fourth quarter. Jones Financial Companies Lllp now owns 13,186 shares of the company's stock worth $482,000 after buying an additional 7,056 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Nextracker during the fourth quarter worth approximately $961,000. Oppenheimer & Co. Inc. bought a new stake in Nextracker during the fourth quarter worth approximately $286,000. Oppenheimer Asset Management Inc. boosted its holdings in Nextracker by 59.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 50,765 shares of the company's stock worth $1,854,000 after buying an additional 18,833 shares in the last quarter. Finally, Robeco Schweiz AG bought a new stake in Nextracker during the fourth quarter worth approximately $22,112,000. Institutional investors and hedge funds own 67.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. BNP Paribas upgraded shares of Nextracker to a "strong-buy" rating in a report on Wednesday, January 29th. UBS Group raised their target price on shares of Nextracker from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. The Goldman Sachs Group raised their price objective on shares of Nextracker from $54.00 to $61.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. 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. Finally, Susquehanna raised their price objective on shares of Nextracker from $50.00 to $54.00 and gave the stock a "positive" rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $56.50.

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Insider Activity

In other 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 completion of the transaction, the chief accounting officer now 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 is accessible through the SEC website. Also, insider Bruce Ledesma sold 9,891 shares of the company's 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 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 valued at $1,217,520. Insiders own 0.27% of the company's stock.

Nextracker Stock Performance

Nextracker stock traded down $0.85 on Friday, reaching $44.31. 2,681,410 shares of the stock were exchanged, compared to its average volume of 3,080,969. The stock has a market cap of $6.45 billion, a PE ratio of 11.27 and a beta of 2.24. 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 Inc. has a twelve month low of $30.93 and a twelve month high of $62.31. The firm has a fifty day moving average price of $44.72 and a two-hundred day moving average price of $39.61.

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