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

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

Several other institutional investors have also recently added to or reduced their stakes in the stock. Allworth Financial LP increased its stake in Nextracker by 52.4% during 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 period. Principal Securities Inc. grew its holdings in shares of Nextracker by 41.8% in 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 in the last quarter. Quarry LP increased its stake in Nextracker by 61.5% during the 3rd quarter. Quarry LP now owns 1,119 shares of the company’s stock worth $42,000 after buying an additional 426 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Nextracker by 38.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company’s stock worth $68,000 after buying an additional 516 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in Nextracker by 1.8% in the 3rd quarter. HighTower Advisors LLC now owns 29,777 shares of the company’s stock valued at $1,115,000 after buying an additional 519 shares during the period. Institutional investors and hedge funds own 67.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. TD Cowen started coverage on Nextracker in a research report on Thursday, December 19th. They set a “hold” rating and a $41.00 price objective on the stock. Bank of America reduced their price target on Nextracker from $65.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Piper Sandler boosted their price objective on Nextracker from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. BNP Paribas raised shares of Nextracker to a “strong-buy” rating in a report on Wednesday, January 29th. Finally, BMO Capital Markets increased their target price on shares of Nextracker from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $56.50.

Insider Transactions at Nextracker

In other Nextracker news, CAO David P. Bennett sold 9,801 shares of the business’s 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 sale, the chief accounting officer now directly owns 124,577 shares in the company, valued at approximately $6,216,392.30. The trade was a 7.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Howard Wenger sold 6,066 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $45.00, for a total transaction of $272,970.00. Following the completion of the transaction, the president now owns 209,365 shares of the company’s stock, valued at $9,421,425. This represents a 2.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 25,758 shares of company stock valued at $1,217,520. Corporate insiders own 0.27% of the company’s stock.

Nextracker Stock Performance

Shares of NXT opened at $46.55 on Wednesday. The stock has a market capitalization of $6.78 billion, a P/E ratio of 11.84 and a beta of 2.13. 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. The company’s fifty day moving average is $42.88 and its two-hundred day moving average is $39.26.

Nextracker (NASDAQ:NXT) last issued 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 net margin of 20.12% and a return on equity of 41.22%. On average, sell-side analysts predict that Nextracker Inc. will post 3.29 earnings per share for the current 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.