Horizon Investments LLC Sells 38,858 Shares of Nextpower Inc. $NXT

Key Points

• Horizon Investments LLC trimmed its stake in Nextpower by 53.9% in Q4, selling 38,858 shares and leaving the firm with 33,243 shares valued at $2.896 million.
• CEO Daniel S. Shugar sold 59,456 shares on March 9 at an average price of $105.17 for about $6.25 million, reducing his direct stake by 7.38% to 746,339 shares.
• Nextpower (NXT) opened near $116.93 with a market cap of $17.36 billion, a P/E of 29.91 and a one‑year range of $40.85–$131.72, while analysts hold a “Moderate Buy” consensus and an average price target of $117.79.

Horizon Investments LLC trimmed its position in shares of Nextpower Inc. (NASDAQ:NXT - Free Report) by 53.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,243 shares of the company's stock after selling 38,858 shares during the period. Horizon Investments LLC's holdings in Nextpower were worth $2,896,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NXT. Whittier Trust Co. of Nevada Inc. grew its holdings in Nextpower by 268.7% during the 4th 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 last quarter. Foster Dykema Cabot & Partners LLC bought a new position in Nextpower during the 3rd quarter valued at about $36,000. Baillie Gifford & Co. grew its holdings in Nextpower by 76.5% during the 4th quarter. Baillie Gifford & Co. now owns 420 shares of the company's stock valued at $37,000 after purchasing an additional 182 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Nextpower by 511.1% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 495 shares of the company's stock valued at $37,000 after purchasing an additional 414 shares during the last quarter. Finally, BOKF NA grew its holdings in Nextpower by 1,135.7% during the 3rd quarter. BOKF NA now owns 519 shares of the company's stock valued at $38,000 after purchasing an additional 477 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors.

Nextpower Price Performance

Shares of NXT stock opened at $116.93 on Tuesday. The company has a market capitalization of $17.36 billion, a P/E ratio of 29.91, a P/E/G ratio of 5.70 and a beta of 1.60. The company's 50-day simple moving average is $114.44 and its two-hundred day simple moving average is $103.89. Nextpower Inc. has a one year low of $40.85 and a one year high of $131.72.

Insider Buying and Selling

In other Nextpower news, CEO Daniel S. Shugar sold 59,456 shares of the company's 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 directly owned 746,339 shares in the company, valued at $78,492,472.63. This represents a 7.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. The Goldman Sachs Group set a $140.00 price target on shares of Nextpower and gave the company a "buy" rating in a report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft set a $129.00 target price on shares of Nextpower and gave the stock a "buy" rating in a research note on Thursday, April 9th. Wells Fargo & Company upped their target price on shares of Nextpower from $109.00 to $127.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 28th. Robert W. Baird upped their target price on shares of Nextpower from $126.00 to $133.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 28th. Finally, Susquehanna upped their target price on shares of Nextpower from $133.00 to $136.00 and gave the stock a "positive" rating in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $117.79.

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.

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