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

Union Bancaire Privee UBP SA bought a new position in shares of Nextracker Inc. (NASDAQ:NXT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,040 shares of the company’s stock, valued at approximately $177,000.

Several other large investors also recently made changes to their positions in the stock. Bank of Montreal Can boosted its holdings in shares of Nextracker by 25.3% during the 2nd quarter. Bank of Montreal Can now owns 52,428 shares of the company’s stock worth $2,605,000 after buying an additional 10,589 shares during the period. AQR Capital Management LLC grew its stake in Nextracker by 20.6% during the second quarter. AQR Capital Management LLC now owns 50,090 shares of the company’s stock worth $2,348,000 after buying an additional 8,547 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Nextracker by 98.3% in the second quarter. The Manufacturers Life Insurance Company now owns 147,528 shares of the company’s stock valued at $6,916,000 after acquiring an additional 73,119 shares during the last quarter. Creative Planning increased its stake in shares of Nextracker by 23.7% in the 2nd quarter. Creative Planning now owns 30,317 shares of the company’s stock valued at $1,421,000 after purchasing an additional 5,810 shares during the last quarter. Finally, Truist Financial Corp grew its position in Nextracker by 67.1% in the second quarter. Truist Financial Corp now owns 11,225 shares of the company’s stock valued at $526,000 after acquiring an additional 4,507 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextracker Trading Up 24.3 %

Shares of NXT stock opened at $49.24 on Thursday. The firm has a market cap of $7.17 billion, a P/E ratio of 12.28 and a beta of 2.04. The company has a 50 day moving average of $38.96 and a 200-day moving average of $38.93. The company has a quick ratio of 1.99, a current ratio of 2.21 and a debt-to-equity ratio of 0.11. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $62.31.

Nextracker (NASDAQ:NXT) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.31. Nextracker had a net margin of 17.26% and a return on equity of 559.17%. Sell-side analysts anticipate that Nextracker Inc. will post 2.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on NXT shares. Bank of America decreased their target price 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. UBS Group raised their price target on shares of Nextracker from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays raised Nextracker from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $47.00 to $60.00 in a research note on Wednesday. Northland Securities restated an “outperform” rating and issued a $55.00 price target (up from $48.00) on shares of Nextracker in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on Nextracker from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $56.50.

Insiders Place Their Bets

In related news, President Howard Wenger sold 6,066 shares of the company’s stock in a transaction that occurred 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 directly owns 209,365 shares in the company, valued at approximately $9,421,425. This represents a 2.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is owned by corporate insiders.

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.