J. Safra Sarasin Holding AG Takes Position in Nextpower Inc. $NXT

J. Safra Sarasin Holding AG purchased a new position in shares of Nextpower Inc. (NASDAQ:NXT) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,778 shares of the company’s stock, valued at approximately $2,378,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in Nextpower by 107.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock valued at $26,000 after acquiring an additional 155 shares in the last quarter. 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 worth $28,000 after acquiring an additional 223 shares in the last quarter. Huntington National Bank increased its position in shares of Nextpower by 480.3% in the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after purchasing an additional 317 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Nextpower by 76.5% in the 4th 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. raised its stake in shares of Nextpower by 511.1% in 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 in the last quarter. Institutional investors own 67.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NXT. The Goldman Sachs Group reiterated a “buy” rating and issued a $168.00 price target on shares of Nextpower in a research note on Wednesday, July 1st. Wolfe Research reaffirmed an “outperform” rating and set a $160.00 target price on shares of Nextpower in a report on Friday, May 29th. Susquehanna decreased their target price on Nextpower from $180.00 to $168.00 and set a “positive” rating for the company in a research report on Friday. UBS Group reissued a “buy” rating and set a $170.00 price target on shares of Nextpower in a research report on Friday, May 29th. Finally, Wells Fargo & Company raised their price objective on Nextpower from $143.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Twenty equities 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, Nextpower currently has an average rating of “Moderate Buy” and a consensus target price of $148.06.

Insider Activity

In other Nextpower 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 sale, the chief operating officer directly owned 221,533 shares of the company’s stock, valued at $28,205,581.56. This trade represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bruce Ledesma sold 3,248 shares of the firm’s stock in a transaction 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 sale, the insider owned 246,130 shares in the company, valued at $33,158,633.60. The trade was a 1.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders sold 168,574 shares of company stock worth $22,559,770 over the last 90 days. Insiders own 0.84% of the company’s stock.

Nextpower Stock Down 10.6%

Shares of NASDAQ NXT opened at $99.67 on Tuesday. The firm’s 50-day moving average price is $125.34 and its two-hundred day moving average price is $115.34. Nextpower Inc. has a 52-week low of $52.61 and a 52-week high of $163.13. The stock has a market capitalization of $14.98 billion, a P/E ratio of 26.02, a P/E/G ratio of 2.20 and a beta of 1.86.

Nextpower (NASDAQ:NXT) last posted its earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.89 by $0.16. The company had revenue of $880.52 million during the quarter, compared to analyst estimates of $826.26 million. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, equities research analysts expect that Nextpower Inc. will post 3.77 earnings per share for the current year.

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.