UniSuper Management Pty Ltd Has $5.42 Million Stock Holdings in Nextracker Inc. (NASDAQ:NXT)

UniSuper Management Pty Ltd reduced its holdings in Nextracker Inc. (NASDAQ:NXT - Free Report) by 11.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 148,439 shares of the company's stock after selling 18,800 shares during the quarter. UniSuper Management Pty Ltd owned 0.10% of Nextracker worth $5,422,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. 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 stake in Nextracker in the 3rd quarter valued at $33,545,000. State Street Corp boosted its stake 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 worth $190,041,000 after buying an additional 690,343 shares during the last quarter. Wellington Management Group LLP raised its holdings in Nextracker by 25.5% during the third quarter. Wellington Management Group LLP now owns 3,392,992 shares of the company's stock worth $127,169,000 after acquiring an additional 688,810 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Nextracker by 23.3% in 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 in the last quarter. Institutional investors and hedge funds own 67.41% of the company's stock.

Nextracker Price Performance

Shares of Nextracker stock traded down $1.01 during trading on Monday, reaching $42.14. 1,684,843 shares of the company's stock were exchanged, compared to its average volume of 3,085,620. The firm's 50-day moving average price is $45.09 and its 200 day moving average price is $40.13. The company has a market cap of $6.14 billion, a P/E ratio of 10.72 and a beta of 2.24. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.96 and a current ratio of 2.20. Nextracker Inc. has a 1-year low of $30.93 and a 1-year high of $62.31.

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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 the consensus estimate of $0.58 by $0.31. Nextracker had a net margin of 20.12% and a return on equity of 41.22%. As a group, research analysts anticipate that Nextracker Inc. will post 3.29 earnings per share for the current year.

Insider Transactions at Nextracker

In other news, President Howard Wenger sold 6,066 shares of the business's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $45.00, for a total transaction of $272,970.00. Following the sale, the president now directly owns 209,365 shares in the company, valued at approximately $9,421,425. The trade was a 2.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bruce Ledesma sold 9,891 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $46.05, for a total value of $455,480.55. Following the completion of 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 ninety days, insiders sold 25,758 shares of company stock worth $1,217,520. Corporate insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. BNP Paribas raised Nextracker to a "strong-buy" rating in a report on Wednesday, January 29th. Citigroup decreased their price objective on shares of Nextracker from $50.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Barclays raised shares of Nextracker from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $47.00 to $60.00 in a report on Wednesday, January 29th. Susquehanna lifted their price target on Nextracker from $50.00 to $54.00 and gave the stock a "positive" rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company dropped their price objective on Nextracker from $70.00 to $69.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Three equities research 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 company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $56.43.

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.