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

by · The Markets Daily

NextNav Inc. (NASDAQ:NN – Get Free Report) CEO Mariam Sorond sold 2,830 shares of the stock in a transaction that occurred 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 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

Shares of NASDAQ NN traded down $0.33 during midday trading on Thursday, hitting $18.18. 2,771,114 shares of the stock traded hands, compared to its average volume of 2,482,124. The firm has a market capitalization of $2.48 billion, a P/E 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 firm has a 50-day moving average of $19.99 and a two-hundred day moving average of $17.54.

NextNav (NASDAQ:NN – Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.03. The firm had revenue of $0.99 million during the quarter, compared to the consensus estimate of $0.94 million. Equities analysts forecast that NextNav Inc. will post -0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Check Out Our Latest Stock Analysis on NN

Institutional Trading of NextNav

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its position in shares of NextNav by 1.2% during the 1st quarter. Bank of America Corp DE now owns 260,018 shares of the company’s stock valued at $4,165,000 after purchasing an additional 3,028 shares during the period. Amundi boosted its holdings in NextNav by 7.5% in the 1st quarter. Amundi now owns 43,703 shares of the company’s stock worth $700,000 after buying an additional 3,043 shares during the period. California State Teachers Retirement System boosted its holdings in NextNav by 41.6% in the 1st quarter. California State Teachers Retirement System now owns 97,347 shares of the company’s stock worth $1,559,000 after buying an additional 28,584 shares during the period. Quantinno Capital Management LP purchased a new stake in NextNav in the 1st quarter worth $364,000. Finally, Sona Asset Management US LLC increased its stake in NextNav by 37.9% in the 1st quarter. Sona Asset Management US LLC now owns 521,477 shares of the company’s stock worth $8,354,000 after buying an additional 143,349 shares in the last quarter. 79.16% of the stock is owned by hedge funds and other institutional investors.

NextNav Company Profile

(Get Free Report)

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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