Goldman Sachs Group Inc. Has $35 Million Stock Holdings in Nextracker Inc. (NASDAQ:NXT)

Goldman Sachs Group Inc. lowered its stake in Nextracker Inc. (NASDAQ:NXT) by 26.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 747,161 shares of the company’s stock after selling 266,968 shares during the quarter. Goldman Sachs Group Inc. owned about 0.55% of Nextracker worth $35,004,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in NXT. Barclays PLC lifted its stake in shares of Nextracker by 27.8% in the 3rd quarter. Barclays PLC now owns 17,750 shares of the company’s stock valued at $713,000 after purchasing an additional 3,860 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Nextracker by 23.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 380,808 shares of the company’s stock valued at $15,293,000 after purchasing an additional 73,413 shares during the period. UBS Group AG lifted its stake in shares of Nextracker by 7,428.3% in the 3rd quarter. UBS Group AG now owns 118,420 shares of the company’s stock valued at $4,756,000 after purchasing an additional 116,847 shares during the period. Rhumbline Advisers lifted its stake in shares of Nextracker by 61.6% in the 3rd quarter. Rhumbline Advisers now owns 68,440 shares of the company’s stock valued at $2,749,000 after purchasing an additional 26,092 shares during the period. Finally, FMR LLC lifted its stake in shares of Nextracker by 1.0% in the 3rd quarter. FMR LLC now owns 731,708 shares of the company’s stock valued at $29,385,000 after purchasing an additional 7,131 shares during the period. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextracker Stock Performance

Shares of NXT opened at $54.79 on Friday. The company has a market cap of $7.95 billion, a PE ratio of 16.31 and a beta of 2.66. The firm has a 50-day moving average of $49.88 and a 200-day moving average of $50.79. Nextracker Inc. has a one year low of $32.14 and a one year high of $62.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.76.

Nextracker (NASDAQ:NXT) last posted its quarterly earnings results on Tuesday, May 14th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.38. The business had revenue of $736.52 million during the quarter, compared to analysts’ expectations of $681.03 million. Nextracker had a negative return on equity of 13.70% and a net margin of 12.25%. As a group, equities analysts forecast that Nextracker Inc. will post 2.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Piper Sandler lowered their price objective on shares of Nextracker from $66.00 to $64.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. Truist Financial restated a “buy” rating and issued a $70.00 price objective on shares of Nextracker in a research report on Wednesday, May 15th. Bank of America upped their price objective on shares of Nextracker from $53.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Roth Mkm restated a “buy” rating and issued a $70.00 price objective on shares of Nextracker in a research report on Wednesday, May 15th. Finally, Guggenheim lowered their price objective on shares of Nextracker from $73.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $58.52.

Insider Buying and Selling

In other Nextracker news, COO Nicholas Marco Miller sold 8,355 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $52.67, for a total transaction of $440,057.85. Following the completion of the sale, the chief operating officer now owns 11,114 shares of the company’s stock, valued at approximately $585,374.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Nextracker news, insider Bruce Ledesma sold 12,135 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $43.91, for a total transaction of $532,847.85. Following the completion of the sale, the insider now directly owns 17,387 shares in the company, valued at $763,463.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Nicholas Marco Miller sold 8,355 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $52.67, for a total transaction of $440,057.85. Following the sale, the chief operating officer now owns 11,114 shares of the company’s stock, valued at $585,374.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,639 shares of company stock valued at $1,084,460. 0.09% of the stock is owned by insiders.

Nextracker Company Profile

Nextracker Inc, an energy solutions company, provides solar tracker and software solutions for utility-scale and ground-mounted distributed generation solar projects worldwide. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; NX Gemini, a two-in-portrait format tracker, which holds two rows of solar panels along the central support beam; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.