Goldman Sachs Group Inc. Has $112.22 Million Stock Position in Nextpower Inc. $NXT

Goldman Sachs Group Inc. raised its holdings in Nextpower Inc. (NASDAQ:NXT) by 47.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,288,280 shares of the company’s stock after acquiring an additional 412,816 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.87% of Nextpower worth $112,222,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fielder Capital Group LLC acquired a new position in Nextpower in the 4th quarter valued at approximately $230,000. BW Gestao de Investimentos Ltda. acquired a new position in Nextpower in the 4th quarter valued at approximately $13,580,000. Impact Partnership Wealth LLC acquired a new position in Nextpower in the 4th quarter valued at approximately $210,000. Norges Bank acquired a new position in Nextpower in the 4th quarter valued at approximately $170,918,000. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Nextpower in the 4th quarter valued at approximately $233,000. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wolfe Research restated an “outperform” rating and issued a $160.00 price target on shares of Nextpower in a research report on Friday, May 29th. The Goldman Sachs Group set a $140.00 price objective on shares of Nextpower and gave the company a “buy” rating in a research note on Tuesday, April 14th. Northland Securities upped their price objective on shares of Nextpower from $148.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Robert W. Baird upped their price objective on shares of Nextpower from $133.00 to $156.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Susquehanna upped their price objective on shares of Nextpower from $161.00 to $180.00 and gave the company a “positive” rating in a research note on Monday, June 1st. Twenty research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.77.

Insider Buying and Selling at Nextpower

In related news, President Howard Wenger sold 62,670 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $130.25, for a total transaction of $8,162,767.50. Following the transaction, the president directly owned 426,467 shares of the company’s stock, valued at $55,547,326.75. This represents a 12.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 transaction of $3,120,740.52. Following 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 168,574 shares of company stock valued at $22,559,770 over the last 90 days. Insiders own 0.56% of the company’s stock.

Nextpower Stock Performance

NASDAQ:NXT opened at $125.65 on Tuesday. The firm’s fifty day moving average is $124.41 and its 200-day moving average is $110.47. Nextpower Inc. has a 52 week low of $51.69 and a 52 week high of $163.13. The firm has a market cap of $18.88 billion, a P/E ratio of 32.81, a P/E/G ratio of 3.12 and a beta of 1.73.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings data 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 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. As a group, sell-side analysts anticipate that Nextpower Inc. will post 3.69 earnings per share for the current year.

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.