Jones Financial Companies Lllp Has $482,000 Stock Holdings in Nextracker Inc. (NASDAQ:NXT)

Jones Financial Companies Lllp raised its position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 115.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,186 shares of the company's stock after buying an additional 7,056 shares during the period. Jones Financial Companies Lllp's holdings in Nextracker were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. IFP Advisors Inc lifted its position in Nextracker by 516.4% during the 4th quarter. IFP Advisors Inc now owns 3,304 shares of the company's stock worth $121,000 after buying an additional 2,768 shares in the last quarter. Robeco Schweiz AG acquired a new position in shares of Nextracker during the fourth quarter worth approximately $22,112,000. New York State Common Retirement Fund increased its holdings in shares of Nextracker by 65.6% in the fourth quarter. New York State Common Retirement Fund now owns 469,163 shares of the company's stock valued at $17,139,000 after purchasing an additional 185,858 shares in the last quarter. Geode Capital Management LLC raised 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 purchasing an additional 679,272 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Nextracker by 33.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,226,862 shares of the company's stock worth $45,983,000 after purchasing an additional 307,956 shares during the last quarter. Institutional investors own 67.41% of the company's stock.

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Insider Buying and Selling at Nextracker

In other news, CAO David P. Bennett sold 9,801 shares of the firm's stock in a transaction on 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 trade represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Howard Wenger sold 6,066 shares of the business's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $45.00, for a total transaction of $272,970.00. Following the completion of the sale, the president now directly owns 209,365 shares in the company, valued at approximately $9,421,425. This represents a 2.82 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,758 shares of company stock worth $1,217,520. 0.27% of the stock is currently owned by insiders.

Nextracker Price Performance

Shares of NXT stock traded down $0.85 on Friday, reaching $44.31. The company had a trading volume of 2,681,002 shares, compared to its average volume of 3,101,733. The stock has a market capitalization of $6.45 billion, a PE ratio of 11.27 and a beta of 2.24. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10. The business's 50-day moving average is $44.62 and its 200 day moving average is $39.61. 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 posted 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%. Equities research analysts forecast that Nextracker Inc. will post 3.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Jefferies Financial Group raised Nextracker from a "hold" rating to a "buy" rating and lifted their target price for the company from $46.00 to $56.00 in a research note on Wednesday, January 29th. Northland Capmk raised Nextracker to a "strong-buy" rating in a report on Tuesday, November 19th. BMO Capital Markets upped their target price on shares of Nextracker from $48.00 to $50.00 and gave the company a "market perform" rating in a research report on Wednesday, January 29th. Piper Sandler lifted their price target on shares of Nextracker from $47.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Finally, Barclays raised shares of Nextracker from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $47.00 to $60.00 in a research note on Wednesday, January 29th. Three 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $56.50.

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.