Vanguard Group Inc. Buys 573,214 Shares of NextNav Inc. $NN

Vanguard Group Inc. grew its holdings in NextNav Inc. (NASDAQ:NN) by 9.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,932,757 shares of the company’s stock after purchasing an additional 573,214 shares during the quarter. Vanguard Group Inc. owned about 0.05% of NextNav worth $115,361,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of NextNav by 70.7% in the third quarter. JPMorgan Chase & Co. now owns 105,466 shares of the company’s stock valued at $1,508,000 after purchasing an additional 43,694 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in NextNav by 21.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,409 shares of the company’s stock worth $290,000 after buying an additional 3,040 shares in the last quarter. Leelyn Smith LLC acquired a new stake in NextNav during the fourth quarter worth about $339,000. DDD Partners LLC acquired a new stake in NextNav during the fourth quarter worth about $265,000. Finally, Harbor Capital Advisors Inc. grew its position in NextNav by 25.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 24,149 shares of the company’s stock worth $402,000 after buying an additional 4,866 shares in the last quarter. 79.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Sammaad Shams sold 3,945 shares of NextNav stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of $19.54, for a total value of $77,085.30. Following the completion of the transaction, the chief accounting officer owned 72,950 shares in the company, valued at approximately $1,425,443. The trade was a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mariam Sorond sold 69,853 shares of NextNav stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $16.91, for a total transaction of $1,181,214.23. Following the completion of the transaction, the chief executive officer owned 1,270,946 shares of the company’s stock, valued at $21,491,696.86. This trade represents a 5.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 101,133 shares of company stock worth $1,733,594. 7.80% of the stock is currently owned by insiders.

NextNav Trading Down 0.7%

NASDAQ NN opened at $20.08 on Wednesday. The stock’s 50 day moving average is $17.71 and its two-hundred day moving average is $15.93. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -13.04 and a beta of 1.03. NextNav Inc. has a 1-year low of $10.84 and a 1-year high of $24.19.

NextNav (NASDAQ:NN) last released its quarterly earnings data on Tuesday, March 17th. The company reported ($0.13) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.13). The company had revenue of $0.95 million for the quarter, compared to analyst estimates of $0.86 million. On average, analysts predict that NextNav Inc. will post -0.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. B. Riley Financial reissued a “buy” rating on shares of NextNav in a research report on Thursday, April 23rd. Oppenheimer raised NextNav from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a report on Thursday, April 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a report on Tuesday, April 21st. Wall Street Zen downgraded NextNav from a “hold” rating to a “strong sell” rating in a report on Saturday, March 21st. Finally, UBS Group set a $25.00 price objective on NextNav in a report on Thursday, April 16th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $25.00.

NextNav Company Profile

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.