Nextracker Inc. (NASDAQ:NXT) Shares Purchased by Sei Investments Co.

Sei Investments Co. lifted its position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 10.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 223,580 shares of the company's stock after purchasing an additional 21,188 shares during the quarter. Sei Investments Co. owned about 0.15% of Nextracker worth $8,167,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NXT. Holocene Advisors LP acquired a new position in shares of Nextracker during the third quarter worth about $45,416,000. Erste Asset Management GmbH acquired a new position in Nextracker during the 3rd quarter worth approximately $33,545,000. State Street Corp boosted its holdings in Nextracker by 15.8% in the 3rd quarter. State Street Corp now owns 5,070,473 shares of the company's stock worth $190,041,000 after acquiring an additional 690,343 shares during the period. Wellington Management Group LLP grew its position in Nextracker by 25.5% in the third quarter. Wellington Management Group LLP now owns 3,392,992 shares of the company's stock valued at $127,169,000 after acquiring an additional 688,810 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Nextracker by 23.3% during the third quarter. Geode Capital Management LLC now owns 3,593,938 shares of the company's stock valued at $134,724,000 after purchasing an additional 679,272 shares during the period. Institutional investors and hedge funds own 67.41% of the company's stock.

Insider Activity at Nextracker

In other news, President Howard Wenger sold 6,066 shares of Nextracker 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 transaction, the president now directly owns 209,365 shares in the company, valued at approximately $9,421,425. This trade represents a 2.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bruce Ledesma sold 9,891 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $46.05, for a total value of $455,480.55. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold 25,758 shares of company stock worth $1,217,520 in the last 90 days. Corporate insiders own 0.27% of the company's stock.

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Nextracker Stock Performance

Shares of NASDAQ NXT traded up $0.91 during midday trading on Tuesday, hitting $43.05. 1,471,418 shares of the company's stock were exchanged, compared to its average volume of 2,604,333. Nextracker Inc. has a twelve month low of $30.93 and a twelve month high of $62.31. The firm has a market cap of $6.27 billion, a P/E ratio of 10.95 and a beta of 2.24. The stock's 50 day moving average price is $45.05 and its 200-day moving average price is $40.18. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.20 and a quick ratio of 1.96.

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, topping 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%. Equities research analysts anticipate that Nextracker Inc. will post 3.29 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NXT shares. Royal Bank of Canada assumed coverage on shares of Nextracker in a report on Monday, March 17th. They set an "outperform" rating and a $55.00 price target for the company. JPMorgan Chase & Co. raised their target price on Nextracker from $58.00 to $61.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. BNP Paribas upgraded Nextracker to a "strong-buy" rating in a research note on Wednesday, January 29th. Susquehanna increased their price target on Nextracker from $50.00 to $54.00 and gave the company a "positive" rating in a report on Wednesday, January 29th. Finally, Jefferies Financial Group upgraded Nextracker from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $46.00 to $56.00 in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $56.43.

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.