Granahan Investment Management LLC Sells 30,456 Shares of Nextpower Inc. $NXT

Granahan Investment Management LLC reduced its position in shares of Nextpower Inc. (NASDAQ:NXT) by 7.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 384,710 shares of the company’s stock after selling 30,456 shares during the quarter. Nextpower makes up about 1.4% of Granahan Investment Management LLC’s portfolio, making the stock its 21st largest position. Granahan Investment Management LLC’s holdings in Nextpower were worth $33,512,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Nextpower by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 14,167,845 shares of the company’s stock worth $1,048,279,000 after purchasing an additional 283,981 shares during the last quarter. State Street Corp raised its holdings in Nextpower by 0.6% during the 3rd quarter. State Street Corp now owns 5,391,696 shares of the company’s stock worth $398,932,000 after purchasing an additional 31,689 shares during the last quarter. Geode Capital Management LLC raised its holdings in Nextpower by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 4,021,741 shares of the company’s stock worth $350,385,000 after purchasing an additional 236,593 shares during the last quarter. Invesco Ltd. increased its stake in shares of Nextpower by 9.9% in the 3rd quarter. Invesco Ltd. now owns 2,725,449 shares of the company’s stock valued at $201,656,000 after acquiring an additional 245,412 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Nextpower by 2.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,357,523 shares of the company’s stock valued at $174,459,000 after acquiring an additional 67,362 shares during the last quarter. 67.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. BMO Capital Markets upped their price target on Nextpower from $113.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Wells Fargo & Company upped their price target on Nextpower from $143.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. BNP Paribas Exane upped their price target on Nextpower from $177.00 to $182.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Wolfe Research reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Nextpower in a research note on Friday, May 29th. Finally, Jefferies Financial Group increased their target price on Nextpower from $145.00 to $159.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Twenty analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Nextpower has a consensus rating of “Moderate Buy” and a consensus price target of $147.77.

Nextpower Stock Performance

NASDAQ NXT opened at $125.62 on Wednesday. Nextpower Inc. has a 52-week low of $51.69 and a 52-week high of $163.13. The business has a 50 day simple moving average of $124.90 and a 200 day simple moving average of $111.84. The stock has a market cap of $18.88 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 2.98 and a beta of 1.73.

Nextpower (NASDAQ:NXT) last released its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share 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 during the quarter, compared to the consensus estimate of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, analysts predict that Nextpower Inc. will post 3.69 EPS for the current year.

Insider Activity

In other Nextpower news, President Howard Wenger sold 62,670 shares of the company’s 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 completion of the transaction, the president owned 426,467 shares of the company’s stock, valued at $55,547,326.75. This represents a 12.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 the company’s 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 directly owned 246,130 shares of the company’s stock, valued at approximately $33,158,633.60. This trade represents a 1.30% decrease in their position. 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. Over the last quarter, insiders have sold 168,574 shares of company stock worth $22,559,770. 0.56% of the stock is currently owned by insiders.

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.