Union Bancaire Privee UBP SA Invests $177,000 in Nextracker Inc. (NASDAQ:NXT)

Union Bancaire Privee UBP SA acquired a new stake in shares of Nextracker Inc. (NASDAQ:NXT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,040 shares of the company’s stock, valued at approximately $177,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NXT. Creative Planning boosted its position in Nextracker by 19.4% during the third quarter. Creative Planning now owns 36,186 shares of the company’s stock worth $1,356,000 after acquiring an additional 5,869 shares during the last quarter. Raymond James & Associates boosted its stake in Nextracker by 25.4% in the 3rd quarter. Raymond James & Associates now owns 123,905 shares of the company’s stock worth $4,644,000 after buying an additional 25,080 shares during the last quarter. Signaturefd LLC increased its stake in shares of Nextracker by 37.8% during the 3rd quarter. Signaturefd LLC now owns 2,043 shares of the company’s stock valued at $77,000 after acquiring an additional 560 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Nextracker by 14.4% during the 3rd quarter. Louisiana State Employees Retirement System now owns 39,800 shares of the company’s stock valued at $1,492,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Nextracker by 12.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 85,000 shares of the company’s stock worth $3,306,000 after acquiring an additional 9,200 shares during the period. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NXT shares. BMO Capital Markets boosted their target price on shares of Nextracker from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th. The Goldman Sachs Group boosted their price objective on shares of Nextracker from $54.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Susquehanna increased their target price on Nextracker from $50.00 to $54.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Piper Sandler boosted their price target on Nextracker from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company dropped their price target on Nextracker from $70.00 to $69.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.50.

Insider Buying and Selling at Nextracker

In other Nextracker news, CAO David P. Bennett sold 9,801 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $49.90, for a total transaction of $489,069.90. Following the transaction, the chief accounting officer now directly owns 124,577 shares in the company, valued at $6,216,392.30. This represents a 7.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the sale, the president now directly owns 209,365 shares of the company’s stock, valued at $9,421,425. The trade was a 2.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,758 shares of company stock valued at $1,217,520 in the last three months. Corporate insiders own 0.27% of the company’s stock.

Nextracker Stock Performance

Shares of NXT stock opened at $46.55 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.20 and a quick ratio of 1.96. The company’s fifty day moving average price is $42.88 and its two-hundred day moving average price is $39.26. The firm has a market capitalization of $6.78 billion, a P/E ratio of 11.84 and a beta of 2.13. Nextracker Inc. has a 12 month low of $30.93 and a 12 month high of $62.31.

Nextracker (NASDAQ:NXT) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.58 by $0.31. Nextracker had a return on equity of 41.22% and a net margin of 20.12%. On average, research analysts anticipate that Nextracker Inc. will post 3.29 earnings per share for the current fiscal year.

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.