Pictet Asset Management Holding SA Sells 20,954 Shares of Nextpower Inc. $NXT

Pictet Asset Management Holding SA trimmed its stake in Nextpower Inc. (NASDAQ:NXT) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,760,792 shares of the company’s stock after selling 20,954 shares during the period. Pictet Asset Management Holding SA’s holdings in Nextpower were worth $332,532,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of NXT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Nextpower by 19.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company’s stock valued at $18,436,000 after buying an additional 71,842 shares during the period. M&T Bank Corp purchased a new stake in Nextpower in the second quarter worth about $223,000. EverSource Wealth Advisors LLC boosted its position in Nextpower by 179.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock valued at $61,000 after acquiring an additional 724 shares in the last quarter. Cerity Partners LLC boosted its position in Nextpower by 154.0% during the 2nd quarter. Cerity Partners LLC now owns 18,539 shares of the company’s stock valued at $1,008,000 after acquiring an additional 11,239 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Nextpower by 36.5% during the 2nd quarter. California Public Employees Retirement System now owns 222,960 shares of the company’s stock worth $12,122,000 after acquiring an additional 59,573 shares during the period. Institutional investors own 67.41% of the company’s stock.

Nextpower Stock Performance

Shares of NASDAQ NXT opened at $106.95 on Friday. The firm’s 50 day moving average price is $126.10 and its 200-day moving average price is $113.41. The company has a market cap of $16.07 billion, a PE ratio of 27.92, a P/E/G ratio of 2.52 and a beta of 1.73. Nextpower Inc. has a 52-week low of $51.69 and a 52-week high of $163.13.

Nextpower (NASDAQ:NXT) last posted 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. The firm had revenue of $880.52 million for the quarter, compared to analysts’ expectations of $826.26 million. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, analysts forecast that Nextpower Inc. will post 3.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NXT has been the subject of several research reports. Weiss Ratings lowered Nextpower from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday. JPMorgan Chase & Co. lifted their price target on Nextpower from $155.00 to $174.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. Wells Fargo & Company upped their price target on Nextpower from $143.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Needham & Company LLC reiterated a “buy” rating and issued a $149.00 price objective on shares of Nextpower in a report on Friday, May 29th. Finally, Royal Bank Of Canada raised their price objective on Nextpower from $146.00 to $149.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Twenty investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.52.

Insiders Place Their Bets

In other news, President Howard Wenger sold 62,670 shares of the company’s stock in a transaction 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 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 document filed with the SEC, which is available 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, insider Bruce Ledesma sold 3,248 shares of the 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 sale, the insider directly owned 246,130 shares in the company, valued at $33,158,633.60. This trade represents a 1.30% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 168,574 shares of company stock worth $22,559,770. 0.56% of the stock is owned by corporate insiders.

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.