Nextracker Inc. (NASDAQ:NXT) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lessened its stake in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 28.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,272,410 shares of the company's stock after selling 884,908 shares during the period. Voya Investment Management LLC owned approximately 1.56% of Nextracker worth $83,011,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Allworth Financial LP raised its stake in shares of Nextracker by 52.4% in the fourth quarter. Allworth Financial LP now owns 803 shares of the company's stock worth $29,000 after purchasing an additional 276 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Nextracker by 448.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,290 shares of the company's stock valued at $47,000 after acquiring an additional 1,055 shares during the period. Millstone Evans Group LLC purchased a new stake in shares of Nextracker during the 4th quarter valued at about $48,000. Principal Securities Inc. raised its holdings in shares of Nextracker by 41.8% during the fourth quarter. Principal Securities Inc. now owns 1,390 shares of the company's stock valued at $51,000 after purchasing an additional 410 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Nextracker by 92.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,817 shares of the company's stock valued at $66,000 after purchasing an additional 873 shares during the period. Hedge funds and other institutional investors own 67.41% of the company's stock.

Insider Buying and Selling

In other Nextracker 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 transaction, the chief accounting officer now owns 124,577 shares in the company, valued at $6,216,392.30. The trade was a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bruce Ledesma sold 9,891 shares of the firm'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 completion of the sale, the insider now owns 132,374 shares in the company, valued at $6,095,822.70. This represents a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.27% of the stock is owned by insiders.

Nextracker Trading Down 1.0 %

NXT stock traded down $0.45 during midday trading on Monday, reaching $43.20. The company's stock had a trading volume of 1,409,293 shares, compared to its average volume of 2,974,318. The stock has a fifty day simple moving average of $42.66 and a two-hundred day simple moving average of $40.65. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.96 and a current ratio of 2.20. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 10.99 and a beta of 2.02. Nextracker Inc. has a 1 year low of $30.93 and a 1 year high of $62.31.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on NXT. Robert W. Baird cut their target price on shares of Nextracker from $59.00 to $48.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Northland Securities reaffirmed an "outperform" rating and issued a $55.00 target price (up previously from $48.00) on shares of Nextracker in a report on Wednesday, January 29th. Citigroup decreased their price target on Nextracker from $50.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. UBS Group upped their price objective on Nextracker from $60.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Finally, Piper Sandler set a $49.00 target price on Nextracker in a research report on Monday, April 21st. Three equities research 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 stock. Based on data from MarketBeat.com, Nextracker currently has a consensus rating of "Moderate Buy" and an average target price of $55.43.

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.