AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Sold by Stifel Financial Corp

Stifel Financial Corp reduced its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 53.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,967 shares of the company’s stock after selling 125,619 shares during the quarter. Stifel Financial Corp’s holdings in AST SpaceMobile were worth $2,902,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Privium Fund Management B.V. acquired a new stake in AST SpaceMobile in the third quarter valued at $21,476,000. Oppenheimer & Co. Inc. purchased a new stake in AST SpaceMobile during the second quarter worth about $9,270,000. Charles Schwab Investment Management Inc. grew its position in AST SpaceMobile by 228.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock worth $29,594,000 after buying an additional 787,566 shares during the period. Renaissance Technologies LLC acquired a new position in AST SpaceMobile during the second quarter worth about $4,757,000. Finally, Seven Eight Capital LP purchased a new position in AST SpaceMobile in the second quarter valued at about $3,387,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

NASDAQ ASTS opened at $24.78 on Wednesday. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile, Inc. has a fifty-two week low of $1.97 and a fifty-two week high of $39.08. The business has a fifty day moving average of $24.66 and a 200-day moving average of $21.60. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of -11.69 and a beta of 1.60.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ASTS shares. Scotiabank lowered their price target on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft raised their price target on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. UBS Group lifted their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, B. Riley increased their price objective on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 29th.

Insider Buying and Selling

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $25.83, for a total value of $2,066,400.00. Following the completion of the sale, the chief operating officer now directly owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. The trade was a 16.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Huiwen Yao sold 45,000 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total value of $1,091,700.00. Following the transaction, the chief technology officer now directly owns 55,000 shares in the company, valued at approximately $1,334,300. This represents a 45.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,700 shares of company stock worth $3,220,524. 41.80% of the stock is owned by corporate insiders.

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.