William Blair Investment Management LLC Has $118.71 Million Position in Nextpower Inc. $NXT

Key Points

• William Blair Investment Management trimmed its Nextpower stake by 7.3% in the fourth quarter, but still held 1.36 million shares worth about $118.7 million at quarter-end.
• Analysts remain generally bullish on NXT, with several firms raising price targets; the stock’s consensus rating is “Moderate Buy” and the average target price is $136.54.
• Nextpower reported a strong quarter, posting $1.05 EPS versus the $0.89 estimate and revenue of $880.5 million, while insider selling has continued, including recent sales by the COO and CEO.

William Blair Investment Management LLC lowered its stake in shares of Nextpower Inc. (NASDAQ:NXT - Free Report) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,362,794 shares of the company's stock after selling 106,844 shares during the quarter. William Blair Investment Management LLC owned about 0.92% of Nextpower worth $118,713,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. grew its position in Nextpower by 268.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company's stock worth $28,000 after buying an additional 223 shares in the last quarter. Baillie Gifford & Co. grew 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 buying an additional 182 shares in the last quarter. Foster Dykema Cabot & Partners LLC bought a new stake in Nextpower during the third quarter worth $36,000. Northwestern Mutual Wealth Management Co. lifted its stake 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. Finally, Rakuten Securities Inc. lifted its stake in Nextpower by 324.8% during the fourth quarter. Rakuten Securities Inc. now owns 514 shares of the company's stock worth $45,000 after purchasing an additional 393 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NXT shares. Weiss Ratings upgraded Nextpower from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on Nextpower from $125.00 to $155.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 13th. TD Cowen upped their target price on Nextpower from $105.00 to $135.00 and gave the stock a "hold" rating in a research note on Wednesday, May 13th. Glj Research restated a "buy" rating and set a $147.33 target price on shares of Nextpower in a research note on Monday, March 16th. Finally, Needham & Company LLC upped their target price on Nextpower from $103.00 to $138.00 and gave the stock a "buy" rating in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $136.54.

Nextpower Stock Performance

Shares of NXT opened at $130.50 on Friday. Nextpower Inc. has a 52 week low of $51.69 and a 52 week high of $156.78. The stock has a market capitalization of $19.38 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 3.21 and a beta of 1.60. The stock has a fifty day moving average of $119.89 and a 200-day moving average of $107.28.

Nextpower (NASDAQ:NXT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, beating 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 company had revenue of $880.52 million during the quarter, compared to analysts' expectations of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, equities analysts forecast that Nextpower Inc. will post 3.76 EPS for the current year.

Insider Activity

In other news, COO Nicholas Marco Miller sold 24,511 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $127.32, for a total value of $3,120,740.52. Following the completion of the transaction, the chief operating officer directly owned 221,533 shares in the company, valued at approximately $28,205,581.56. This represents a 9.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel S. Shugar sold 59,456 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer owned 746,339 shares of the company's stock, valued at $78,492,472.63. The trade was a 7.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 139,949 shares of company stock worth $15,452,995. Insiders own 0.56% of the company's stock.

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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