Key Points
- CEO Mariam Sorond sold 69,853 shares on March 3 at an average price of $16.91 for proceeds of about $1.18M, reducing her stake by 5.21% to 1,270,946 shares (valued at roughly $21.49M).
- The stock traded down 0.6% to $16.46, sits near its 52‑week high of $18.25 (1‑year low $9.48), has a market cap of $2.22B and a negative P/E of -12.66.
- Institutional holders own 79.16% of NextNav with firms like Vanguard and State Street increasing positions, while analysts' consensus is an average "Reduce" rating after recent downgrades to "Sell."
NextNav Inc. (NASDAQ:NN - Get Free Report) CEO Mariam Sorond sold 69,853 shares of the company's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $16.91, for a total transaction of $1,181,214.23. Following the completion of the sale, the chief executive officer directly owned 1,270,946 shares in the company, valued at $21,491,696.86. This represents a 5.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
NextNav Trading Down 0.6%
NASDAQ:NN traded down $0.10 during trading hours on Friday, reaching $16.46. 144,999 shares of the company traded hands, compared to its average volume of 1,235,418. The business's 50-day moving average price is $15.80 and its two-hundred day moving average price is $15.19. NextNav Inc. has a 1 year low of $9.48 and a 1 year high of $18.25. The stock has a market capitalization of $2.22 billion, a P/E ratio of -12.66 and a beta of 0.96.
Hedge Funds Weigh In On NextNav
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew 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 valued at $115,361,000 after buying an additional 573,214 shares in the last quarter. Susquehanna Advisors Group Inc. grew its holdings in shares of NextNav by 1.4% in the fourth quarter. Susquehanna Advisors Group Inc. now owns 5,482,340 shares of the company's stock valued at $91,226,000 after purchasing an additional 74,995 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of NextNav by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 2,268,473 shares of the company's stock valued at $37,754,000 after purchasing an additional 100,058 shares in the last quarter. State Street Corp increased its position in NextNav by 1.9% in the fourth quarter. State Street Corp now owns 2,171,877 shares of the company's stock worth $36,140,000 after purchasing an additional 40,762 shares during the last quarter. Finally, Plustick Management LLC raised its stake in NextNav by 1.3% during the fourth quarter. Plustick Management LLC now owns 2,065,818 shares of the company's stock valued at $34,375,000 after purchasing an additional 25,818 shares in the last quarter. Hedge funds and other institutional investors own 79.16% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on NN. Wall Street Zen lowered shares of NextNav from a "hold" rating to a "sell" rating in a research note on Saturday, January 31st. Weiss Ratings reiterated a "sell (d-)" rating on shares of NextNav in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, NextNav has an average rating of "Reduce".
View Our Latest Report on NN
About NextNav
(
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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