Charles Schwab Investment Management Inc. Purchases 135,008 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Charles Schwab Investment Management Inc. grew its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 11.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,266,713 shares of the company’s stock after purchasing an additional 135,008 shares during the period. Charles Schwab Investment Management Inc. owned about 0.44% of AST SpaceMobile worth $26,728,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in AST SpaceMobile by 9.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company’s stock worth $85,450,000 after buying an additional 281,749 shares during the last quarter. State Street Corp raised its stake in shares of AST SpaceMobile by 14.8% during the third quarter. State Street Corp now owns 3,091,577 shares of the company’s stock worth $80,845,000 after acquiring an additional 399,713 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of AST SpaceMobile by 0.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 854,063 shares of the company’s stock worth $18,021,000 after acquiring an additional 7,991 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of AST SpaceMobile by 57.6% in the 4th quarter. Bank of New York Mellon Corp now owns 641,678 shares of the company’s stock worth $13,539,000 after acquiring an additional 234,517 shares during the last quarter. Finally, Swiss National Bank purchased a new stake in shares of AST SpaceMobile in the 3rd quarter valued at $6,911,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

AST SpaceMobile Trading Down 0.5 %

Shares of ASTS opened at $28.02 on Tuesday. The firm has a fifty day simple moving average of $25.61 and a two-hundred day simple moving average of $25.25. AST SpaceMobile, Inc. has a twelve month low of $1.97 and a twelve month high of $39.08. The stock has a market capitalization of $8.87 billion, a P/E ratio of -13.22 and a beta of 1.62. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ASTS. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Scotiabank reiterated an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Finally, UBS Group increased their target price on AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $42.98.

Insider Transactions at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the transaction, the director now owns 52,628 shares in the company, valued at $1,617,258.44. This represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 41.80% of the stock is currently owned by company insiders.

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.