Sei Investments Co. Buys 21,188 Shares of Nextracker Inc. (NASDAQ:NXT)

Sei Investments Co. grew its position in shares of Nextracker Inc. (NASDAQ:NXT) by 10.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 223,580 shares of the company’s stock after buying an additional 21,188 shares during the quarter. Sei Investments Co. owned 0.15% of Nextracker worth $8,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP increased its holdings in Nextracker by 52.4% during the fourth quarter. Allworth Financial LP now owns 803 shares of the company’s stock valued at $29,000 after buying an additional 276 shares during the last quarter. Quarry LP increased its stake in shares of Nextracker by 61.5% in the 3rd quarter. Quarry LP now owns 1,119 shares of the company’s stock worth $42,000 after purchasing an additional 426 shares in the last quarter. Millstone Evans Group LLC bought a new position in Nextracker in the 4th quarter worth $48,000. Principal Securities Inc. lifted its position in Nextracker by 41.8% during 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. Finally, Nisa Investment Advisors LLC grew its holdings in Nextracker by 38.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company’s stock valued at $68,000 after purchasing an additional 516 shares during the period. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Nextracker Price Performance

Shares of Nextracker stock opened at $43.15 on Monday. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 10.98 and a beta of 2.24. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.96 and a current ratio of 2.20. The stock has a 50 day moving average price of $45.09 and a 200-day moving average price of $40.13. Nextracker Inc. has a one year low of $30.93 and a one year high of $62.31.

Nextracker (NASDAQ:NXT) last posted its quarterly earnings data 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 net margin of 20.12% and a return on equity of 41.22%. Equities analysts expect that Nextracker Inc. will post 3.29 EPS for the current year.

Insiders Place Their Bets

In other Nextracker news, CAO David P. Bennett sold 9,801 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $49.90, for a total value of $489,069.90. Following the completion of the sale, the chief accounting officer now directly owns 124,577 shares in the company, valued at approximately $6,216,392.30. This represents a 7.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Howard Wenger sold 6,066 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $45.00, for a total value of $272,970.00. Following the transaction, the president now owns 209,365 shares in the company, valued at approximately $9,421,425. This represents a 2.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,758 shares of company stock valued at $1,217,520 over the last 90 days. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

NXT has been the topic of a number of analyst reports. Jefferies Financial Group raised Nextracker from a “hold” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $56.00 in a research report on Wednesday, January 29th. TD Cowen initiated coverage on shares of Nextracker in a research report on Thursday, December 19th. They issued a “hold” rating and a $41.00 price target for the company. Barclays upgraded shares of Nextracker from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $47.00 to $60.00 in a research report on Wednesday, January 29th. The Goldman Sachs Group upped their target price on shares of Nextracker from $54.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, Susquehanna raised their price target on Nextracker from $50.00 to $54.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.43.

About Nextracker

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.