Penserra Capital Management LLC Sells 89,485 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Penserra Capital Management LLC decreased its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 60.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 58,417 shares of the company’s stock after selling 89,485 shares during the period. Penserra Capital Management LLC’s holdings in AST SpaceMobile were worth $1,527,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its position in shares of AST SpaceMobile by 209.9% during the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after acquiring an additional 5,046,667 shares during the last quarter. Vanguard Group Inc. raised its position in shares of AST SpaceMobile by 49.9% during the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after buying an additional 2,217,531 shares in the last quarter. Privium Fund Management B.V. bought a new stake in shares of AST SpaceMobile during the 3rd quarter worth $21,476,000. Oppenheimer & Co. Inc. purchased a new position in AST SpaceMobile in the second quarter worth $9,270,000. Finally, Charles Schwab Investment Management Inc. raised 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 valued at $29,594,000 after purchasing an additional 787,566 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Adriana Cisneros bought 4,934 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $26.32 per share, with a total value of $129,862.88. Following the completion of the purchase, the director now directly owns 774,772 shares in the company, valued at $20,391,999.04. This represents a 0.64 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, COO Shanti B. Gupta sold 80,000 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the sale, the chief operating officer now owns 393,232 shares of the company’s stock, valued at $10,157,182.56. This represents a 16.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,700 shares of company stock valued at $3,220,524 in the last ninety days. Company insiders own 41.80% of the company’s stock.

AST SpaceMobile Trading Down 3.4 %

NASDAQ ASTS opened at $23.39 on Wednesday. The firm has a market cap of $6.78 billion, a PE ratio of -11.03 and a beta of 1.64. AST SpaceMobile, Inc. has a 1-year low of $1.97 and a 1-year high of $39.08. The stock has a 50-day moving average of $25.26 and a 200-day moving average of $19.46. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

Analysts Set New Price Targets

ASTS has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upped their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Scotiabank cut their target price on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a research note on Friday, November 15th. UBS Group lifted their price target on shares of 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 boosted their price objective on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 29th.

About AST SpaceMobile

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.