Nextpower Inc. $NXT Shares Purchased by Geode Capital Management LLC

Key Points

• Geode Capital Management boosted its Nextpower stake by 6.3% in the fourth quarter, ending with 4.02 million shares worth about $350.4 million. Institutional investors now own roughly 67.4% of the company.
• Several company insiders sold shares recently, including President Howard Wenger and insider Bruce Ledesma, with total insider sales over the past 90 days reaching 263,422 shares. The sales were made under pre-arranged 10b5-1 plans and to cover tax withholding tied to equity awards.
• Nextpower reported strong quarterly results, posting EPS of $1.05 versus the $0.89 estimate and revenue of $880.5 million above expectations. Analysts remain broadly positive, with a consensus rating of Moderate Buy and a target price of $147.18.

Geode Capital Management LLC increased its stake in shares of Nextpower Inc. (NASDAQ:NXT - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,021,741 shares of the company's stock after acquiring an additional 236,593 shares during the period. Geode Capital Management LLC owned about 2.71% of Nextpower worth $350,385,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Nextpower by 2.0% during the third quarter. Vanguard Group Inc. now owns 14,167,845 shares of the company's stock worth $1,048,279,000 after acquiring an additional 283,981 shares during the period. State Street Corp grew its holdings in Nextpower by 0.6% during the third quarter. State Street Corp now owns 5,391,696 shares of the company's stock worth $398,932,000 after acquiring an additional 31,689 shares during the period. Invesco Ltd. grew its holdings in Nextpower by 9.9% during the third quarter. Invesco Ltd. now owns 2,725,449 shares of the company's stock worth $201,656,000 after acquiring an additional 245,412 shares during the period. Dimensional Fund Advisors LP grew its holdings in Nextpower by 2.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,357,523 shares of the company's stock worth $174,459,000 after acquiring an additional 67,362 shares during the period. Finally, Amundi grew its holdings in Nextpower by 156.1% in the third quarter. Amundi now owns 2,111,628 shares of the company's stock valued at $161,600,000 after purchasing an additional 1,287,071 shares during the period. 67.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, President Howard Wenger sold 62,670 shares of Nextpower stock in a transaction that occurred 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 transaction, the president owned 426,467 shares in the company, valued at approximately $55,547,326.75. This trade represents a 12.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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, insider Bruce Ledesma sold 3,248 shares of Nextpower stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total value of $437,570.56. Following the transaction, the insider owned 246,130 shares in the company, valued at approximately $33,158,633.60. The trade was 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. In the last ninety days, insiders have sold 263,422 shares of company stock worth $32,160,390. 0.56% of the stock is owned by corporate insiders.

Nextpower Price Performance

Shares of NASDAQ:NXT opened at $145.02 on Tuesday. Nextpower Inc. has a 1 year low of $51.69 and a 1 year high of $163.13. The firm has a market capitalization of $21.53 billion, a PE ratio of 37.86, a P/E/G ratio of 4.05 and a beta of 1.60. The business's 50 day moving average price is $122.42 and its 200-day moving average price is $108.73.

Nextpower (NASDAQ:NXT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.16. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.The firm had revenue of $880.52 million for 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 expect that Nextpower Inc. will post 3.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on NXT. Susquehanna raised their price objective on Nextpower from $161.00 to $180.00 and gave the company a "positive" rating in a report on Monday. Royal Bank Of Canada raised their price objective on Nextpower from $146.00 to $149.00 and gave the company an "outperform" rating in a report on Friday. Citigroup raised their price objective on Nextpower from $114.00 to $145.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. BMO Capital Markets raised their price objective on Nextpower from $113.00 to $125.00 and gave the company a "market perform" rating in a report on Wednesday, May 13th. Finally, The Goldman Sachs Group set a $140.00 price objective on Nextpower and gave the company a "buy" rating in a report on Tuesday, April 14th. Twenty research 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 has a consensus rating of "Moderate Buy" and a consensus target price of $147.18.

Nextpower 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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