Mariam Sorond Sells 2,830 Shares of NextNav (NASDAQ:NN) Stock

NextNav Inc. (NASDAQ:NN) CEO Mariam Sorond sold 2,830 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $18.33, for a total value of $51,873.90. Following the completion of the transaction, the chief executive officer directly owned 1,241,665 shares in the company, valued at approximately $22,759,719.45. This represents a 0.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 shares were sold at an average price of $19.92, for a total value of $1,391,471.76.

NextNav Price Performance

NASDAQ NN opened at $18.18 on Friday. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -15.02 and a beta of 1.04. NextNav Inc. has a one year low of $10.87 and a one year high of $24.42. The business’s fifty day moving average is $20.06 and its 200-day moving average is $17.54.

NextNav (NASDAQ:NN) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.03. The company had revenue of $0.99 million for the quarter, compared to the consensus estimate of $0.94 million. Research analysts expect that NextNav Inc. will post -0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a report on Tuesday, April 21st. UBS Group set a $25.00 target price on NextNav in a research report on Thursday, April 16th. Oppenheimer raised their target price on NextNav from $25.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Wall Street Zen raised NextNav from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, B. Riley Financial reiterated a “buy” rating on shares of NextNav in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $37.50.

Institutional Investors Weigh In On NextNav

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp boosted its holdings in shares of NextNav by 79.5% in the fourth quarter. Van ECK Associates Corp now owns 1,379,524 shares of the company’s stock worth $22,955,000 after acquiring an additional 611,179 shares during the period. Susquehanna Advisors Group Inc. raised its stake in shares of NextNav by 12.1% during the 3rd quarter. Susquehanna Advisors Group Inc. now owns 5,407,345 shares of the company’s stock valued at $77,325,000 after purchasing an additional 584,804 shares during the period. Vanguard Group Inc. lifted its holdings in NextNav by 9.0% during the 4th quarter. Vanguard Group Inc. now owns 6,932,757 shares of the company’s stock worth $115,361,000 after purchasing an additional 573,214 shares in the last quarter. Philosophy Capital Management LLC purchased a new stake in NextNav during the 3rd quarter worth about $7,791,000. Finally, UBS Group AG boosted its stake in NextNav by 35.0% in the 4th quarter. UBS Group AG now owns 1,991,825 shares of the company’s stock worth $33,144,000 after purchasing an additional 516,045 shares during the period. Institutional investors own 79.16% of the company’s stock.

NextNav Company Profile

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.