AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 19.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,345 shares of the company’s stock after selling 2,222 shares during the period. Principal Financial Group Inc.’s holdings in AST SpaceMobile were worth $244,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ASTS. Fairfield Financial Advisors LTD bought a new position in AST SpaceMobile in the third quarter worth about $26,000. Future Financial Wealth Managment LLC bought a new stake in shares of AST SpaceMobile in the 3rd quarter worth approximately $105,000. Amalgamated Bank boosted its position in AST SpaceMobile by 17.4% during the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after purchasing an additional 679 shares during the period. Calton & Associates Inc. bought a new position in AST SpaceMobile during the 2nd quarter worth $128,000. Finally, Price T Rowe Associates Inc. MD increased its position in AST SpaceMobile by 71.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 55,335 shares of the company’s stock worth $161,000 after buying an additional 22,987 shares during the period. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

Shares of ASTS opened at $24.21 on Tuesday. The firm has a market capitalization of $7.01 billion, a PE ratio of -11.42 and a beta of 1.64. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $25.26 and a 200 day moving average price of $19.46. AST SpaceMobile, Inc. has a 52-week low of $1.97 and a 52-week high of $39.08.

Insider Transactions at AST SpaceMobile

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ASTS shares. Scotiabank reduced their price target on shares of AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a report on Friday, November 15th. UBS Group upped their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft lifted their price target on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, B. Riley increased their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 29th.

AST SpaceMobile Company Profile

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.