Goldman Sachs Group Inc. increased its stake in shares of Nextpower Inc. (NASDAQ:NXT – Free Report) by 47.2% during the 4th quarter, Holdings Channel reports. The fund owned 1,288,280 shares of the company’s stock after acquiring an additional 412,816 shares during the period. Goldman Sachs Group Inc.’s holdings in Nextpower were worth $112,222,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Westfield Capital Management Co. LP lifted its stake in shares of Nextpower by 6.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,398,057 shares of the company’s stock valued at $103,442,000 after buying an additional 80,493 shares in the last quarter. New York Life Investment Management LLC bought a new position in shares of Nextpower in the third quarter valued at $1,008,000. Legal & General Group Plc lifted its stake in shares of Nextpower by 4.6% in the fourth quarter. Legal & General Group Plc now owns 414,304 shares of the company’s stock valued at $36,090,000 after buying an additional 18,380 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Nextpower by 23.4% in the third quarter. American Century Companies Inc. now owns 675,886 shares of the company’s stock valued at $50,009,000 after buying an additional 128,296 shares in the last quarter. Finally, Andrew Hill Investment Advisors Inc. lifted its stake in shares of Nextpower by 31.2% in the fourth quarter. Andrew Hill Investment Advisors Inc. now owns 70,025 shares of the company’s stock valued at $6,100,000 after buying an additional 16,666 shares in the last quarter. 67.41% of the stock is owned by institutional investors.
Insider Buying and Selling at Nextpower
In related news, CFO Charles D. Boynton sold 4,500 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $151.79, for a total transaction of $683,055.00. Following the completion of the sale, the chief financial officer owned 358,500 shares in the company, valued at approximately $54,416,715. This trade represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bruce Ledesma sold 3,248 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total transaction of $437,570.56. Following the sale, the insider owned 246,130 shares of the company’s stock, valued at $33,158,633.60. This trade represents a 1.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 168,574 shares of company stock valued at $22,559,770 in the last three months. 0.56% of the stock is owned by corporate insiders.
Nextpower Stock Performance
Nextpower (NASDAQ:NXT – Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.16. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The business had revenue of $880.52 million during the quarter, compared to the consensus estimate of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, analysts forecast that Nextpower Inc. will post 3.69 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. TD Cowen raised their price objective on shares of Nextpower from $105.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Barclays raised their price objective on shares of Nextpower from $123.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Wall Street Zen lowered shares of Nextpower from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. The Goldman Sachs Group set a $140.00 target price on shares of Nextpower and gave the company a “buy” rating in a report on Tuesday, April 14th. Finally, KeyCorp increased their target price on shares of Nextpower from $152.00 to $164.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Twenty analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $147.77.
Read Our Latest Analysis on Nextpower
About Nextpower
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.
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