Crossmark Global Holdings Inc. Sells 643 Shares of Nextracker Inc. (NASDAQ:NXT)

Crossmark Global Holdings Inc. reduced its stake in Nextracker Inc. (NASDAQ:NXT) by 8.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,183 shares of the company’s stock after selling 643 shares during the period. Crossmark Global Holdings Inc.’s holdings in Nextracker were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in NXT. State Street Corp increased its holdings in shares of Nextracker by 15.8% during the third quarter. State Street Corp now owns 5,070,473 shares of the company’s stock worth $190,041,000 after buying an additional 690,343 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Nextracker by 23.3% during the third quarter. Geode Capital Management LLC now owns 3,593,938 shares of the company’s stock worth $134,724,000 after buying an additional 679,272 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Nextracker by 25.5% during the third quarter. Wellington Management Group LLP now owns 3,392,992 shares of the company’s stock worth $127,169,000 after buying an additional 688,810 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Nextracker by 15.4% during the third quarter. Victory Capital Management Inc. now owns 2,367,636 shares of the company’s stock worth $88,739,000 after buying an additional 315,199 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Nextracker by 5.3% during the third quarter. Handelsbanken Fonder AB now owns 1,675,617 shares of the company’s stock worth $62,802,000 after buying an additional 84,069 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Nextracker

In other news, President Howard Wenger sold 6,066 shares of Nextracker stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $45.00, for a total value of $272,970.00. Following the transaction, the president now directly owns 209,365 shares in the company, valued at approximately $9,421,425. This trade represents a 2.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Nextracker Price Performance

NASDAQ:NXT opened at $39.63 on Tuesday. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 9.88 and a beta of 2.04. Nextracker Inc. has a 1 year low of $30.93 and a 1 year high of $62.31. The business has a 50 day simple moving average of $38.86 and a 200-day simple moving average of $39.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.21 and a quick ratio of 1.99.

Analyst Upgrades and Downgrades

NXT has been the topic of several analyst reports. Piper Sandler reduced their price objective on shares of Nextracker from $60.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Barclays reduced their price objective on shares of Nextracker from $61.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Guggenheim reissued a “buy” rating and issued a $55.00 price objective on shares of Nextracker in a research note on Friday, November 22nd. Northland Capmk raised shares of Nextracker to a “strong-buy” rating in a research note on Tuesday, November 19th. Finally, Bank of America reduced their price objective on shares of Nextracker from $65.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.10.

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.