State Street Corp Increases Holdings in NextNav Inc. (NASDAQ:NN)

State Street Corp raised its stake in NextNav Inc. (NASDAQ:NN) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,010,131 shares of the company’s stock after acquiring an additional 22,152 shares during the quarter. State Street Corp’s holdings in NextNav were worth $15,056,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Raymond James & Associates boosted its holdings in NextNav by 1.0% in the 2nd quarter. Raymond James & Associates now owns 156,000 shares of the company’s stock worth $1,265,000 after acquiring an additional 1,500 shares during the period. Van ECK Associates Corp increased its position in shares of NextNav by 10.0% in the 3rd quarter. Van ECK Associates Corp now owns 21,412 shares of the company’s stock worth $160,000 after purchasing an additional 1,948 shares during the last quarter. CIBC Asset Management Inc grew its stake in NextNav by 19.0% in the second quarter. CIBC Asset Management Inc now owns 19,652 shares of the company’s stock worth $159,000 after purchasing an additional 3,140 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of NextNav in the 2nd quarter worth approximately $50,000. Finally, The Manufacturers Life Insurance Company lifted its stake in NextNav by 39.6% during the second quarter. The Manufacturers Life Insurance Company now owns 29,857 shares of the company’s stock worth $242,000 after purchasing an additional 8,466 shares during the last quarter. Hedge funds and other institutional investors own 79.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley increased their target price on NextNav from $12.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th.

NextNav Stock Down 0.2 %

Shares of NextNav stock opened at $14.92 on Wednesday. The stock’s fifty day moving average is $14.23 and its 200-day moving average is $10.00. The firm has a market capitalization of $1.95 billion, a PE ratio of -19.89 and a beta of 1.13. NextNav Inc. has a 12-month low of $3.55 and a 12-month high of $18.54. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.81.

Insider Buying and Selling at NextNav

In related news, SVP Arun Raghupathy sold 3,332 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $18.32, for a total value of $61,042.24. Following the transaction, the senior vice president now directly owns 1,087,019 shares of the company’s stock, valued at approximately $19,914,188.08. This trade represents a 0.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mariam Sorond sold 200,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $16.40, for a total transaction of $3,280,000.00. Following the completion of the transaction, the chief executive officer now owns 1,574,117 shares in the company, valued at $25,815,518.80. The trade was a 11.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 209,367 shares of company stock valued at $3,442,705 in the last three months. 15.70% of the stock is currently owned by company insiders.

NextNav Company Profile

NextNav Inc provides next generation positioning, navigation, and timing (PNT) solutions in the United States. It offers Pinnacle, a dedicated vertical positioning network to cover entire metropolitan areas including devices equipped with a barometric pressure sensor with the highest quality wide-area altitude service.