Geode Capital Management LLC Increases Holdings in NextNav Inc. (NASDAQ:NN)

Geode Capital Management LLC lifted its position in shares of NextNav Inc. (NASDAQ:NN) by 10.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,691,508 shares of the company’s stock after acquiring an additional 158,455 shares during the quarter. Geode Capital Management LLC owned 1.34% of NextNav worth $12,672,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. nVerses Capital LLC acquired a new position in shares of NextNav during the 2nd quarter worth approximately $50,000. Principal Financial Group Inc. acquired a new position in shares of NextNav during the 2nd quarter worth approximately $82,000. Quest Partners LLC acquired a new position in shares of NextNav during the 2nd quarter worth approximately $88,000. King Luther Capital Management Corp acquired a new position in shares of NextNav during the 3rd quarter worth approximately $90,000. Finally, Wolverine Asset Management LLC raised its position in shares of NextNav by 323.6% during the 2nd quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company’s stock worth $98,000 after purchasing an additional 9,248 shares during the last quarter. Hedge funds and other institutional investors own 79.16% of the company’s stock.

Wall Street Analyst Weigh In

Separately, B. Riley lifted their price objective 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 0.7 %

Shares of NextNav stock opened at $16.62 on Tuesday. The company has a fifty day moving average price of $14.98 and a 200 day moving average price of $10.30. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. NextNav Inc. has a twelve month low of $3.55 and a twelve month high of $18.54. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of -22.16 and a beta of 1.13.

Insider Buying and Selling

In other NextNav news, CFO Christian D. Gates sold 3,918 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $17.65, for a total value of $69,152.70. Following the completion of the transaction, the chief financial officer now directly owns 815,722 shares of the company’s stock, valued at $14,397,493.30. This represents a 0.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Arun Raghupathy sold 3,332 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $18.32, for a total transaction of $61,042.24. Following the completion of 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. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 209,367 shares of company stock valued at $3,442,705. Company insiders own 15.70% of the company’s stock.

About NextNav

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.