William Blair Investment Management LLC Sells 106,844 Shares of Nextpower Inc. $NXT

William Blair Investment Management LLC reduced its stake in shares of Nextpower Inc. (NASDAQ:NXT) by 7.3% in the 4th quarter, Holdings Channel reports. The firm owned 1,362,794 shares of the company’s stock after selling 106,844 shares during the quarter. William Blair Investment Management LLC’s holdings in Nextpower were worth $118,713,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NXT. Westfield Capital Management Co. LP grew its holdings in Nextpower by 6.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,398,057 shares of the company’s stock worth $103,442,000 after acquiring an additional 80,493 shares during the period. New York Life Investment Management LLC acquired a new stake in Nextpower during the 3rd quarter worth about $1,008,000. Belpointe Asset Management LLC acquired a new stake in Nextpower during the 3rd quarter worth about $832,000. Strs Ohio grew its holdings in Nextpower by 219.8% during the 3rd quarter. Strs Ohio now owns 110,000 shares of the company’s stock worth $8,139,000 after acquiring an additional 75,600 shares during the period. Finally, American Century Companies Inc. grew its holdings in Nextpower by 23.4% during the 3rd quarter. American Century Companies Inc. now owns 675,886 shares of the company’s stock worth $50,009,000 after acquiring an additional 128,296 shares during the period. 67.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NXT has been the subject of several research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $140.00 target price on shares of Nextpower in a research note on Thursday, May 14th. TD Cowen raised their target price on Nextpower from $105.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. BMO Capital Markets raised their target price on Nextpower from $113.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. raised their target price on Nextpower from $125.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Finally, Barclays raised their target price on Nextpower from $123.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.54.

Nextpower Stock Performance

NXT stock opened at $130.50 on Friday. The company has a market capitalization of $19.38 billion, a P/E ratio of 34.07, a price-to-earnings-growth ratio of 3.21 and a beta of 1.60. Nextpower Inc. has a 52-week low of $51.69 and a 52-week high of $156.78. The business has a 50-day simple moving average of $119.89 and a two-hundred day simple moving average of $107.28.

Nextpower (NASDAQ:NXT) last released its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.16. The business had revenue of $880.52 million during the quarter, compared to the consensus estimate of $826.26 million. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, sell-side analysts forecast that Nextpower Inc. will post 3.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Nextpower

In other Nextpower news, COO Nicholas Marco Miller sold 24,511 shares of Nextpower stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $127.32, for a total transaction of $3,120,740.52. Following the completion of the transaction, the chief operating officer owned 221,533 shares in the company, valued at approximately $28,205,581.56. The trade was a 9.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel S. Shugar sold 59,456 shares of Nextpower stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $105.17, for a total value of $6,252,987.52. Following the transaction, the chief executive officer owned 746,339 shares of the company’s stock, valued at $78,492,472.63. This trade represents a 7.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 139,949 shares of company stock worth $15,452,995. Insiders own 0.56% of the company’s stock.

Nextpower Company Profile

Nextpower, formerly known as Nextracker, is traded on NASDAQ under the symbol NXT and is a leading provider of advanced solar tracking solutions for utility-scale and distributed energy projects. The company specializes in the design, engineering and manufacturing of single-axis tracker systems that optimize the capture of solar energy by following the sun’s trajectory throughout the day. Nextpower’s core hardware offerings aim to enhance energy yield, reduce balance-of-system costs and simplify installation and maintenance for downstream solar developers and operators.

In addition to its tracker hardware, Nextpower provides a suite of digital software and analytics tools to maximize asset performance.