Swiss National Bank Sells 3,800 Shares of Nextracker Inc. (NASDAQ:NXT)

Swiss National Bank decreased its holdings in shares of Nextracker Inc. (NASDAQ:NXT) by 1.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 278,320 shares of the company’s stock after selling 3,800 shares during the period. Swiss National Bank owned approximately 0.19% of Nextracker worth $11,728,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Sterling Capital Management LLC raised its holdings in shares of Nextracker by 448.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,290 shares of the company’s stock worth $47,000 after acquiring an additional 1,055 shares during the last quarter. Virtus Fund Advisers LLC bought a new stake in Nextracker during the 4th quarter worth approximately $47,000. Fifth Third Bancorp raised its stake in shares of Nextracker by 27.5% in the first quarter. Fifth Third Bancorp now owns 1,204 shares of the company’s stock worth $51,000 after purchasing an additional 260 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Nextracker by 127.2% in the first quarter. UMB Bank n.a. now owns 1,504 shares of the company’s stock valued at $63,000 after purchasing an additional 842 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Nextracker by 819.5% during the first quarter. Farther Finance Advisors LLC now owns 1,554 shares of the company’s stock valued at $67,000 after buying an additional 1,385 shares during the last quarter. 67.41% of the stock is owned by institutional investors.

Nextracker Stock Performance

Shares of NXT opened at $53.99 on Friday. Nextracker Inc. has a fifty-two week low of $30.93 and a fifty-two week high of $67.87. The business has a 50-day moving average of $59.72 and a 200 day moving average of $50.89. The firm has a market cap of $7.99 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 1.29 and a beta of 2.25.

Insider Buying and Selling at Nextracker

In other news, COO Nicholas Marco Miller sold 69,774 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $59.65, for a total value of $4,162,019.10. Following the sale, the chief operating officer owned 175,216 shares of the company’s stock, valued at $10,451,634.40. The trade was a 28.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bruce Ledesma sold 83,561 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $55.71, for a total transaction of $4,655,183.31. Following the sale, the insider owned 195,790 shares in the company, valued at $10,907,460.90. The trade was a 29.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 184,136 shares of company stock worth $10,605,803 over the last ninety days. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NXT. Roth Capital reissued a “buy” rating and issued a $80.00 price target (up from $70.00) on shares of Nextracker in a research report on Tuesday, July 29th. Northland Capmk lowered shares of Nextracker from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Barclays reiterated an “overweight” rating and issued a $69.00 target price (up previously from $64.00) on shares of Nextracker in a report on Thursday, July 31st. UBS Group boosted their price target on shares of Nextracker from $71.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Finally, Northland Securities reiterated a “market perform” rating on shares of Nextracker in a research note on Wednesday, July 30th. Nine analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $64.37.

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.