Nextpower Inc. $NXT Shares Sold by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP trimmed its stake in Nextpower Inc. (NASDAQ:NXT) by 22.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,090,300 shares of the company’s stock after selling 307,757 shares during the period. Westfield Capital Management Co. LP owned approximately 0.73% of Nextpower worth $94,976,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Nextpower by 2.0% in the third quarter. Vanguard Group Inc. now owns 14,167,845 shares of the company’s stock valued at $1,048,279,000 after acquiring an additional 283,981 shares in the last quarter. State Street Corp boosted its stake in Nextpower by 0.6% in the third quarter. State Street Corp now owns 5,391,696 shares of the company’s stock valued at $398,932,000 after acquiring an additional 31,689 shares in the last quarter. Geode Capital Management LLC boosted its stake in Nextpower by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 4,021,741 shares of the company’s stock valued at $350,385,000 after acquiring an additional 236,593 shares in the last quarter. Invesco Ltd. boosted its stake in Nextpower by 9.9% in the third 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 in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Nextpower by 2.9% in the third 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 in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NXT. Wells Fargo & Company upped their price objective on shares of Nextpower from $143.00 to $151.00 and gave the company an “overweight” rating in a research note 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. Barclays upped their price objective on shares of Nextpower from $123.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Roth Mkm restated a “buy” rating and issued a $155.00 price objective on shares of Nextpower in a research note on Wednesday, May 13th. Finally, Wolfe Research restated an “outperform” rating and issued a $160.00 price objective on shares of Nextpower 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’s stock. Based on data from MarketBeat.com, Nextpower currently has a consensus rating of “Moderate Buy” and an average target price of $147.27.

Key Headlines Impacting Nextpower

Here are the key news stories impacting Nextpower this week:

• Positive Sentiment: Northland Securities raised several forward earnings estimates for Nextpower and reiterated an Outperform rating with a $162 price target, signaling confidence in the company’s earnings growth trajectory.
• Positive Sentiment: Glj Research lifted its price target to $149.44 and maintained a buy rating, adding to the overall bullish analyst tone around the stock.
• Positive Sentiment: Nextpower’s patent infringement lawsuit against GameChange Solar may be viewed as a strategic move to protect its technology and market share in solar tracking systems. Nextpower sues GameChange over IP breach as GameChange announces rebranding
• Neutral Sentiment: GameChange said it will vigorously defend against the claims, which creates litigation uncertainty and could limit the near-term impact of the lawsuit.
• Negative Sentiment: Recent insider selling by the CFO and COO may slightly temper enthusiasm, though the trades were reported under pre-arranged 10b5-1 plans and do not necessarily signal a change in fundamentals.
• Negative Sentiment: Broader market weakness tied to China banking concerns and falling oil prices could weigh on sentiment across the renewable-energy and industrial space, even if company-specific news remains positive.

Nextpower Stock Performance

Shares of Nextpower stock opened at $150.32 on Friday. Nextpower Inc. has a 1 year low of $51.69 and a 1 year high of $163.13. The company has a market capitalization of $22.59 billion, a P/E ratio of 39.25, a PEG ratio of 3.47 and a beta of 1.73. The company’s fifty day moving average is $124.27 and its two-hundred day moving average is $109.93.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, equities analysts expect that Nextpower Inc. will post 3.69 earnings per share for the current year.

Insider Activity at Nextpower

In other Nextpower news, President Howard Wenger sold 62,670 shares of the firm’s 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 approximately $55,547,326.75. This trade represents a 12.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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, CFO Charles D. Boynton sold 4,500 shares of Nextpower stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $151.79, for a total transaction of $683,055.00. Following the completion of the sale, the chief financial officer directly owned 358,500 shares in the company, valued at approximately $54,416,715. The trade was a 1.24% 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. Insiders sold a total of 228,030 shares of company stock worth $28,812,757 in the last three months. Company 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.