19,778 Shares in Nextpower Inc. $NXT Bought by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG initiated a new position in Nextpower, buying 19,778 shares valued at about $2.38 million in the first quarter.
• Several insiders sold shares recently, including CFO Charles D. Boynton and President Howard Wenger, and insiders have sold 168,574 shares worth about $22.6 million over the past three months.
• Nextpower reported better-than-expected quarterly results, with EPS of $1.05 versus $0.89 estimated and revenue of $880.5 million, while analysts maintain a Moderate Buy consensus and an average price target of $148.06.

J. Safra Sarasin Holding AG bought a new stake in Nextpower Inc. (NASDAQ:NXT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 19,778 shares of the company's stock, valued at approximately $2,378,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NXT. Jupiter Asset Management Ltd. raised its holdings in shares of Nextpower by 0.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company's stock worth $2,326,000 after purchasing an additional 86 shares during the period. Root Financial Partners LLC lifted its stake in shares of Nextpower by 30.0% in the 1st quarter. Root Financial Partners LLC now owns 446 shares of the company's stock valued at $54,000 after purchasing an additional 103 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Nextpower by 2.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 5,963 shares of the company's stock worth $719,000 after purchasing an additional 119 shares during the period. Signaturefd LLC grew its holdings in shares of Nextpower by 4.1% during the 4th quarter. Signaturefd LLC now owns 3,216 shares of the company's stock worth $280,000 after purchasing an additional 126 shares during the period. Finally, Allworth Financial LP increased its position in Nextpower by 16.8% during the 3rd quarter. Allworth Financial LP now owns 979 shares of the company's stock worth $72,000 after purchasing an additional 141 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Charles D. Boynton sold 4,500 shares of Nextpower stock in a transaction on Monday, June 1st. The shares were sold at an average price of $151.79, for a total transaction of $683,055.00. Following the sale, the chief financial officer owned 358,500 shares of the company's stock, valued at $54,416,715. The trade was a 1.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Howard Wenger sold 62,670 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $130.25, for a total transaction of $8,162,767.50. Following the completion of the transaction, the president owned 426,467 shares in the company, valued at $55,547,326.75. This represents a 12.81% 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 worth $22,559,770 over the last three months. 0.84% of the stock is currently owned by corporate insiders.

Nextpower Stock Down 10.6%

NASDAQ NXT opened at $99.67 on Tuesday. Nextpower Inc. has a fifty-two week low of $52.61 and a fifty-two week high of $163.13. The business has a 50 day moving average price of $125.34 and a two-hundred day moving average price of $115.34. The stock has a market cap of $14.98 billion, a PE ratio of 26.02, a P/E/G ratio of 2.20 and a beta of 1.86.

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, beating 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 company had revenue of $880.52 million for the quarter, compared to analyst estimates of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Sell-side analysts anticipate that Nextpower Inc. will post 3.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Glj Research raised their price target on shares of Nextpower from $147.00 to $149.44 and gave the company a "buy" rating in a report on Wednesday, June 3rd. Wells Fargo & Company increased their price objective on shares of Nextpower from $143.00 to $151.00 and gave the stock an "overweight" rating in a research report on Friday, May 29th. Truist Financial set a $140.00 target price on shares of Nextpower in a research note on Monday. Wolfe Research restated an "outperform" rating and set a $160.00 target price on shares of Nextpower in a report on Friday, May 29th. Finally, Susquehanna decreased their price target on shares of Nextpower from $180.00 to $168.00 and set a "positive" rating for the company in a research report on Friday. Twenty research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $148.06.

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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