Charles Schwab Investment Management Inc. Has $29.59 Million Stake in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Charles Schwab Investment Management Inc. grew its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 228.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,131,705 shares of the company’s stock after buying an additional 787,566 shares during the period. Charles Schwab Investment Management Inc. owned 0.42% of AST SpaceMobile worth $29,594,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Fairfield Financial Advisors LTD acquired a new stake in AST SpaceMobile during the 3rd quarter worth approximately $26,000. Hollencrest Capital Management acquired a new stake in AST SpaceMobile during the 3rd quarter worth approximately $26,000. Rakuten Securities Inc. acquired a new stake in AST SpaceMobile during the 3rd quarter worth approximately $68,000. KBC Group NV acquired a new stake in AST SpaceMobile during the 3rd quarter worth approximately $104,000. Finally, Future Financial Wealth Managment LLC bought a new position in AST SpaceMobile during the 3rd quarter worth $105,000. 60.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ASTS shares. B. Riley raised their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Scotiabank decreased their price target on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a research note on Friday, November 15th. UBS Group lifted their price target on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, 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 research note on Wednesday, September 4th.

Insider Activity

In related news, CTO Huiwen Yao sold 45,000 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the sale, the chief technology officer now owns 55,000 shares in the company, valued at $1,334,300. The trade was a 45.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Adriana Cisneros acquired 4,934 shares of AST SpaceMobile stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the transaction, the director now directly owns 774,772 shares in the company, valued at $20,391,999.04. The trade was a 0.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 127,700 shares of company stock worth $3,220,524. Insiders own 41.80% of the company’s stock.

AST SpaceMobile Trading Down 1.2 %

Shares of ASTS opened at $22.64 on Thursday. AST SpaceMobile, Inc. has a 52-week low of $1.97 and a 52-week high of $39.08. The business’s fifty day moving average is $24.78 and its 200-day moving average is $20.32. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of -10.85 and a beta of 1.60.

AST SpaceMobile 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.