Arbejdsmarkedets Tillaegspension Reduces Stock Position in Nextpower Inc. $NXT

Key Points

• Arbejdsmarkedets Tillaegspension cut its Nextpower stake by 22.7% in the first quarter, selling 59,656 shares and ending with 202,920 shares worth about $24.46 million.
• Institutional ownership remains high, with hedge funds and other institutional investors holding 67.41% of Nextpower’s stock, while several smaller investors recently increased their positions.
• Analysts remain bullish overall: the stock has a Moderate Buy consensus with an average price target of $148.06, and Nextpower recently beat quarterly EPS and revenue estimates.

Arbejdsmarkedets Tillaegspension decreased its stake in shares of Nextpower Inc. (NASDAQ:NXT - Free Report) by 22.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 202,920 shares of the company's stock after selling 59,656 shares during the quarter. Arbejdsmarkedets Tillaegspension owned about 0.14% of Nextpower worth $24,462,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in shares of Nextpower by 107.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company's stock worth $26,000 after acquiring an additional 155 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Nextpower by 268.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company's stock valued at $28,000 after purchasing an additional 223 shares during the period. Huntington National Bank grew its holdings in shares of Nextpower by 480.3% in the fourth quarter. Huntington National Bank now owns 383 shares of the company's stock valued at $33,000 after purchasing an additional 317 shares during the period. Baillie Gifford & Co. increased its position in Nextpower by 76.5% during the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company's stock worth $37,000 after purchasing an additional 182 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Nextpower by 511.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 495 shares of the company's stock worth $37,000 after purchasing an additional 414 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Roth Capital reiterated a "buy" rating and issued a $155.00 target price on shares of Nextpower in a report on Wednesday, May 13th. Truist Financial set a $140.00 price target on shares of Nextpower in a research note on Monday. Glj Research raised their price target on shares of Nextpower from $147.00 to $149.44 and gave the stock a "buy" rating in a report on Wednesday, June 3rd. UBS Group reaffirmed a "buy" rating and set a $170.00 price target on shares of Nextpower in a research report on Friday, May 29th. Finally, Northland Securities upped their price objective on Nextpower from $148.00 to $162.00 and gave the company an "outperform" 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 company's stock. According to MarketBeat.com, Nextpower currently has an average rating of "Moderate Buy" and an average target price of $148.06.

Nextpower Stock Down 10.6%

Shares of NASDAQ NXT opened at $99.67 on Tuesday. The business's 50 day moving average is $125.34 and its two-hundred day moving average is $115.34. Nextpower Inc. has a 52-week low of $52.61 and a 52-week high of $163.13. The firm has a market cap of $14.98 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 2.20 and a beta of 1.86.

Nextpower (NASDAQ:NXT - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.89 by $0.16. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.The business had revenue of $880.52 million during the quarter, compared to analyst estimates of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Analysts anticipate that Nextpower Inc. will post 3.77 EPS for the current fiscal year.

Insider Activity at Nextpower

In other Nextpower news, insider Bruce Ledesma sold 3,248 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total value of $437,570.56. Following the completion of the transaction, 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. The sale was disclosed in a filing with the SEC, which is available at this link. 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. Also, COO Nicholas Marco Miller sold 22,427 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $156.00, for a total transaction of $3,498,612.00. Following the completion of the transaction, the chief operating officer directly owned 186,194 shares of the company's stock, valued at $29,046,264. This represents a 10.75% 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. Over the last three months, insiders sold 168,574 shares of company stock valued at $22,559,770. 0.84% of the stock is owned by company insiders.

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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