NextNav Inc. (NASDAQ:NN – Get Free Report) CEO Mariam Sorond sold 2,830 shares of NextNav stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $18.33, for a total transaction of $51,873.90. Following the completion of the transaction, the chief executive officer owned 1,241,665 shares in the company, valued at approximately $22,759,719.45. This trade represents a 0.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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.
Mariam Sorond also recently made the following trade(s):
- On Monday, June 1st, Mariam Sorond sold 69,853 shares of NextNav stock. The stock was sold at an average price of $19.92, for a total transaction of $1,391,471.76.
NextNav Stock Performance
NN stock opened at $18.18 on Friday. NextNav Inc. has a one year low of $10.87 and a one year high of $24.42. The stock has a market capitalization of $2.48 billion, a PE ratio of -15.02 and a beta of 1.04. The company has a fifty day moving average of $19.99 and a 200-day moving average of $17.54.
Analyst Ratings Changes
Several analysts have recently commented on NN shares. B. Riley Financial reissued a “buy” rating on shares of NextNav in a report on Thursday, April 23rd. UBS Group set a $25.00 price objective on NextNav in a report on Thursday, April 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a research report on Tuesday, April 21st. Oppenheimer raised their target price on NextNav from $25.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Finally, Wall Street Zen upgraded shares of NextNav from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, NextNav presently has a consensus rating of “Hold” and a consensus price target of $37.50.
View Our Latest Analysis on NextNav
Institutional Trading of NextNav
Institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its position in NextNav by 347.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock worth $37,000 after buying an additional 1,721 shares in the last quarter. KBC Group NV purchased a new stake in shares of NextNav in the first quarter valued at $38,000. Clearstead Advisors LLC purchased a new stake in shares of NextNav in the third quarter valued at $52,000. Kemnay Advisory Services Inc. acquired a new stake in shares of NextNav during the fourth quarter valued at $97,000. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of NextNav during the fourth quarter valued at $109,000. Hedge funds and other institutional investors own 79.16% of the company’s stock.
About NextNav
NextNav, Inc is a provider of advanced 3D geolocation infrastructure and positioning services in the United States. The company operates a nationwide network designed to deliver real-time horizontal and vertical location data for consumer, enterprise and public safety applications. By leveraging spectrum holdings in the 900 MHz band, NextNav’s network offers precise altitude and position information that complements GPS and other satellite systems, particularly in urban canyons, indoors or underground environments where traditional signals struggle.
At the core of NextNav’s offering is its TerraPoiNT platform, which enables developers, carriers and emergency response centers to integrate high-accuracy vertical location into their applications and workflows.
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