NextNav Inc. (NASDAQ:NN – Get Free Report) CEO Mariam Sorond sold 69,853 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $19.92, for a total transaction of $1,391,471.76. Following the sale, the chief executive officer owned 1,244,495 shares of the company’s stock, valued at approximately $24,790,340.40. This represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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.
Mariam Sorond also recently made the following trade(s):
- On Tuesday, March 17th, Mariam Sorond sold 11,322 shares of NextNav stock. The stock was sold at an average price of $16.85, for a total transaction of $190,775.70.
NextNav Stock Down 8.4%
NN opened at $21.60 on Friday. NextNav Inc. has a 52-week low of $10.87 and a 52-week high of $24.42. The company has a 50 day moving average of $19.30 and a two-hundred day moving average of $17.05. The company has a market cap of $2.95 billion, a P/E ratio of -17.85 and a beta of 1.04.
Analyst Ratings Changes
Several equities research analysts have issued reports on NN shares. B. Riley Financial reiterated a “buy” rating on shares of NextNav in a research note on Thursday, April 23rd. Wall Street Zen upgraded shares of NextNav from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. UBS Group set a $25.00 target price on shares of NextNav in a research note on Thursday, April 16th. Oppenheimer upped their target price on shares of NextNav from $25.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a research note on Tuesday, April 21st. 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, the stock currently has an average rating of “Hold” and an average target price of $37.50.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its holdings in NextNav by 347.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock valued at $37,000 after acquiring an additional 1,721 shares in the last quarter. KBC Group NV acquired a new stake in NextNav in the first quarter valued at $38,000. Clearstead Advisors LLC acquired a new stake in NextNav in the third quarter valued at $52,000. Kemnay Advisory Services Inc. acquired a new stake in NextNav in the fourth quarter valued at $97,000. Finally, Osterweis Capital Management Inc. acquired a new stake in NextNav in the fourth quarter valued at $109,000. 79.16% of the stock is currently owned by hedge funds and other institutional investors.
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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