AST SpaceMobile, Inc. (NASDAQ:ASTS) is Broad Run Investment Management LLC’s Largest Position

Broad Run Investment Management LLC cut its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,773,407 shares of the company’s stock after selling 25,679 shares during the period. AST SpaceMobile accounts for 10.8% of Broad Run Investment Management LLC’s portfolio, making the stock its biggest position. Broad Run Investment Management LLC’s holdings in AST SpaceMobile were worth $79,619,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in AST SpaceMobile by 49.4% in the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company’s stock valued at $316,233,000 after acquiring an additional 4,955,941 shares in the last quarter. Geode Capital Management LLC increased its position in shares of AST SpaceMobile by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company’s stock valued at $73,801,000 after buying an additional 229,759 shares during the period. T. Rowe Price Investment Management Inc. bought a new position in AST SpaceMobile in the fourth quarter worth about $59,523,000. Charles Schwab Investment Management Inc. raised its stake in AST SpaceMobile by 11.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company’s stock worth $26,728,000 after buying an additional 135,008 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in AST SpaceMobile by 0.9% during the 4th quarter. Oppenheimer & Co. Inc. now owns 854,063 shares of the company’s stock valued at $18,021,000 after acquiring an additional 7,991 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ASTS shares. Scotiabank restated an “outperform” rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Roth Capital assumed coverage on shares of AST SpaceMobile in a report on Thursday, April 10th. They set a “buy” rating and a $42.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price objective on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Finally, UBS Group raised their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, AST SpaceMobile presently has an average rating of “Buy” and a consensus target price of $42.82.

Insider Transactions at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $30.73, for a total value of $614,600.00. Following the completion of the transaction, the director now directly owns 52,628 shares in the company, valued at $1,617,258.44. The trade was a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 41.80% of the company’s stock.

AST SpaceMobile Price Performance

ASTS opened at $23.76 on Friday. AST SpaceMobile, Inc. has a 1 year low of $2.12 and a 1 year high of $39.08. The stock has a 50-day moving average price of $25.55 and a 200-day moving average price of $24.59. The firm has a market cap of $7.52 billion, a PE ratio of -11.21 and a beta of 1.81. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

AST SpaceMobile Profile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.