Marshall Wace LLP Has $6.67 Million Holdings in Nextracker Inc. (NASDAQ:NXT)

Marshall Wace LLP decreased its stake in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 44.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 182,530 shares of the company's stock after selling 146,561 shares during the period. Marshall Wace LLP owned 0.13% of Nextracker worth $6,668,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in NXT. Barclays PLC grew its holdings in Nextracker by 259.8% during the third quarter. Barclays PLC now owns 259,800 shares of the company's stock valued at $9,737,000 after purchasing an additional 187,598 shares during the last quarter. Retirement Systems of Alabama grew its stake in Nextracker by 14.9% in the 3rd quarter. Retirement Systems of Alabama now owns 174,244 shares of the company's stock valued at $6,531,000 after buying an additional 22,570 shares during the last quarter. Everence Capital Management Inc. bought a new position in Nextracker in the 4th quarter worth $331,000. Central Pacific Bank Trust Division acquired a new position in Nextracker during the 4th quarter worth $94,000. Finally, Nordea Investment Management AB bought a new stake in Nextracker during the fourth quarter valued at about $5,734,000. 67.41% of the stock is owned by institutional investors.

Insider Activity at Nextracker

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

Nextracker Stock Performance

NASDAQ NXT opened at $40.14 on Thursday. Nextracker Inc. has a 1-year low of $30.93 and a 1-year high of $62.31. The company has a 50 day moving average of $42.85 and a 200-day moving average of $40.46. 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 firm has a market cap of $5.85 billion, a price-to-earnings ratio of 10.21 and a beta of 2.02.

Nextracker (NASDAQ:NXT - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.89 earnings per share 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%. On average, equities analysts forecast that Nextracker Inc. will post 3.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NXT shares. Wells Fargo & Company cut their price objective on Nextracker from $70.00 to $69.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Northland Securities reiterated an "outperform" rating and set a $55.00 price target (up from $48.00) on shares of Nextracker in a report on Wednesday, January 29th. Barclays lowered their price objective on shares of Nextracker from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Citigroup cut their target price on shares of Nextracker from $50.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada initiated coverage on shares of Nextracker in a research report on Monday, March 17th. They issued an "outperform" rating and a $55.00 price target on the stock. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $55.43.

Nextracker Company 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.

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