Union Bancaire Privee UBP SA Has $2.68 Million Stock Holdings in Nextpower Inc. $NXT

Union Bancaire Privee UBP SA raised its stake in Nextpower Inc. (NASDAQ:NXT) by 147.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,671 shares of the company’s stock after purchasing an additional 19,493 shares during the period. Union Bancaire Privee UBP SA’s holdings in Nextpower were worth $2,677,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Foster Dykema Cabot & Partners LLC bought a new stake in Nextpower in the 3rd quarter valued at about $36,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Nextpower by 511.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 495 shares of the company’s stock worth $37,000 after acquiring an additional 414 shares in the last quarter. BOKF NA grew its stake in Nextpower by 1,135.7% in the third quarter. BOKF NA now owns 519 shares of the company’s stock valued at $38,000 after acquiring an additional 477 shares during the period. MAI Capital Management grew its stake in Nextpower by 309.4% in the second quarter. MAI Capital Management now owns 831 shares of the company’s stock valued at $45,000 after acquiring an additional 628 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Nextpower by 179.7% during the second 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. Institutional investors and hedge funds own 67.41% of the company’s stock.

Insider Activity

In other news, CEO Daniel S. Shugar sold 59,456 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $105.17, for a total value of $6,252,987.52. Following the completion of the transaction, the chief executive officer directly owned 746,339 shares of the company’s stock, valued at $78,492,472.63. This represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William D. Watkins sold 5,000 shares of Nextpower stock in a transaction on Friday, January 30th. The stock was sold at an average price of $118.57, for a total value of $592,850.00. Following the sale, the director owned 11,777 shares in the company, valued at $1,396,398.89. This trade represents a 29.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 104,348 shares of company stock valued at $10,876,525. Company insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wall Street Zen lowered Nextpower from a “strong-buy” rating to a “buy” rating in a research report on Sunday, January 25th. Wells Fargo & Company boosted their price target on shares of Nextpower from $109.00 to $127.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. KeyCorp restated an “overweight” rating on shares of Nextpower in a report on Friday, March 13th. Northland Securities set a $111.00 price objective on shares of Nextpower in a research note on Tuesday, January 6th. Finally, Barclays set a $115.00 price objective on shares of Nextpower in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Nextpower currently has a consensus rating of “Moderate Buy” and an average price target of $111.49.

Nextpower Price Performance

NXT opened at $114.39 on Friday. Nextpower Inc. has a 1 year low of $36.06 and a 1 year high of $131.59. The company has a market capitalization of $16.98 billion, a price-to-earnings ratio of 29.26, a P/E/G ratio of 2.82 and a beta of 2.41. The firm’s fifty day moving average price is $111.66 and its two-hundred day moving average price is $94.90.

Nextpower (NASDAQ:NXT) last announced its earnings results on Tuesday, January 27th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.93 by $0.17. Nextpower had a net margin of 16.43% and a return on equity of 32.01%. The company had revenue of $909.35 million during the quarter, compared to the consensus estimate of $812.43 million. As a group, equities analysts anticipate that Nextpower Inc. will post 3.29 EPS 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.