Globalstar (NASDAQ:GSAT) General Counsel Sells $140,368.32 in Stock

September 23, 2026 by InsiderTrades.com

Key Points

Globalstar’s general counsel sold 1,692 shares worth $140,368 at an average price of $82.96 to cover tax withholding tied to vested equity awards, reducing his position by 1.3%.
GSAT shares opened at $82.52, near their 12-month high of $84.85, while the company recently missed quarterly EPS estimates and reported a 3.5% year-over-year revenue decline.
Analyst sentiment remains cautious, with an average rating of “Hold” and a $75.67 price target—below the recent share price—amid valuation concerns despite progress on its satellite-ground infrastructure expansion.

Globalstar, Inc. (NASDAQ:GSAT - Get Free Report) General Counsel L. Ponder, IV sold 1,692 shares of Globalstar stock in a transaction on Monday, September 21st. The stock was sold at an average price of $82.96, for a total transaction of $140,368.32. Following the transaction, the general counsel owned 128,891 shares in the company, valued at approximately $10,692,797.36. This trade represents a 1.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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L Barbee Iv Ponder also recently made the following trade(s):

On Tuesday, August 11th, L. Ponder, IV sold 4,720 shares of Globalstar stock. The shares were sold at an average price of $83.52, for a total value of $394,214.40.
On Friday, August 7th, L. Ponder, IV sold 12,045 shares of Globalstar stock. The stock was sold at an average price of $83.21, for a total value of $1,002,264.45.

Globalstar Stock Down 0.6%

Shares of GSAT opened at $82.52 on Wednesday. The stock's 50-day moving average price is $81.77 and its two-hundred day moving average price is $78.19. Globalstar, Inc. has a 12 month low of $33.90 and a 12 month high of $84.85. The company has a market capitalization of $10.69 billion, a PE ratio of -161.80 and a beta of 1.51. The company has a current ratio of 1.55, a quick ratio of 1.51 and a debt-to-equity ratio of 1.05.

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Globalstar (NASDAQ:GSAT - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.14). Globalstar had a negative net margin of 22.25% and a negative return on equity of 16.66%. The firm had revenue of $64.77 million for the quarter. Globalstar's quarterly revenue was down 3.5% on a year-over-year basis. On average, analysts anticipate that Globalstar, Inc. will post -0.62 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GSAT. PNC Financial Services Group Inc. lifted its holdings in shares of Globalstar by 0.6% during the first quarter. PNC Financial Services Group Inc. now owns 26,090 shares of the company's stock valued at $1,733,000 after purchasing an additional 144 shares during the last quarter. Clay Northam Wealth Management LLC raised its stake in Globalstar by 4.6% during the first quarter. Clay Northam Wealth Management LLC now owns 3,626 shares of the company's stock valued at $241,000 after buying an additional 160 shares during the last quarter. TD Waterhouse Canada Inc. boosted its holdings in Globalstar by 3.0% in the second quarter. TD Waterhouse Canada Inc. now owns 8,047 shares of the company's stock worth $652,000 after acquiring an additional 234 shares in the last quarter. Arizona State Retirement System boosted its holdings in Globalstar by 1.9% in the second quarter. Arizona State Retirement System now owns 14,193 shares of the company's stock worth $1,154,000 after acquiring an additional 258 shares in the last quarter. Finally, Clearstead Trust LLC grew its stake in shares of Globalstar by 20.7% in the fourth quarter. Clearstead Trust LLC now owns 2,131 shares of the company's stock worth $130,000 after acquiring an additional 366 shares during the last quarter. Institutional investors own 18.89% of the company's stock.

More Globalstar News

Globalstar: The Next Big Satellite Winner After Deal With Apple?

Here are the key news stories impacting Globalstar this week:

Positive Sentiment: Globalstar completed construction of an expanded ground station in Nemea, Greece. Three new six-meter antennas doubled the site’s capacity and moved the project into commissioning, supporting the company’s next-generation C-3 mobile satellite network. The broader buildout includes approximately 90 antennas across 35 stations in 25 countries. Globalstar Completes Expansion of Greece Ground Station
Positive Sentiment: Director James Monroe purchased 361,600 shares at $82.52, increasing his direct ownership by approximately 775%. The purchase provides a notable insider-confidence signal, although it was the same number of shares and price reported in a separate filing involving director James Lynch’s sale. Globalstar Director Insider Trading
Neutral Sentiment: General Counsel L. Barbee Ponder sold 1,692 shares worth approximately $140,000 to cover tax withholding obligations from vested equity awards. Because the sale was tax-related and reduced his position by only 1.3%, it is less concerning than discretionary selling. Globalstar SEC Insider Filing
Negative Sentiment: Director James Lynch sold 361,600 shares for approximately $29.8 million, cutting his ownership by 50.74%. The large sale may encourage profit-taking concerns, particularly because Globalstar’s stock has already experienced a substantial rally. Globalstar Director Sells Shares
Negative Sentiment: Valuation concerns are prominent after the sharp run-up. Analysts’ average price target is approximately $75.67, below the recent trading level, while ratings are concentrated around Hold with one Sell rating. The company also recently missed quarterly EPS expectations, posted a net loss, and reported revenue down 3.5% year over year. Globalstar Stock Looks Fully Priced

Analysts Set New Price Targets

GSAT has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Globalstar in a research report on Wednesday, September 2nd. Craig Hallum downgraded Globalstar from a "buy" rating to a "hold" rating and set a $90.00 price objective for the company. in a research note on Tuesday, August 18th. Wall Street Zen raised Globalstar to a "sell" rating in a research report on Saturday, August 8th. Finally, Zacks Research lowered shares of Globalstar from a "hold" rating to a "strong sell" rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $75.67.

Read Our Latest Stock Report on Globalstar

About Globalstar

(Get Free Report)

Globalstar, Inc (NASDAQ: GSAT) provides mobile satellite communications and related connectivity services. The company operates a low-Earth-orbit satellite network that supports two-way voice and data communications, satellite messaging, asset tracking, and Internet of Things (IoT) applications in areas where terrestrial wireless networks are limited or unavailable.

Its product portfolio includes SPOT satellite messengers and tracking devices, which are used for personal safety, emergency communications, location tracking, and field operations.