State Street Corp Buys 22,152 Shares of NextNav Inc. (NASDAQ:NN)

State Street Corp increased its holdings in NextNav Inc. (NASDAQ:NN) by 1.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,010,131 shares of the company’s stock after buying an additional 22,152 shares during the period. State Street Corp owned 1.59% of NextNav worth $15,056,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. nVerses Capital LLC purchased a new stake in NextNav in the second quarter worth $50,000. Principal Financial Group Inc. bought a new position in NextNav during the 2nd quarter valued at about $82,000. Quest Partners LLC purchased a new stake in NextNav in the second quarter worth approximately $88,000. King Luther Capital Management Corp purchased a new stake in NextNav during the third quarter valued at $90,000. Finally, Wolverine Asset Management LLC grew its position in NextNav by 323.6% during the second quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company’s stock valued at $98,000 after buying an additional 9,248 shares during the period. 79.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NextNav news, CEO Mariam Sorond sold 200,000 shares of NextNav stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $16.40, for a total transaction of $3,280,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,574,117 shares in the company, valued at $25,815,518.80. This trade represents a 11.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Arun Raghupathy sold 3,332 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $18.32, for a total transaction of $61,042.24. Following the sale, the senior vice president now owns 1,087,019 shares in the company, valued at approximately $19,914,188.08. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,367 shares of company stock worth $3,442,705. 15.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, B. Riley upped their target price on shares of NextNav from $12.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th.

NextNav Stock Performance

NN opened at $14.92 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.01 and a quick ratio of 5.01. NextNav Inc. has a 1 year low of $3.55 and a 1 year high of $18.54. The firm has a fifty day moving average price of $14.23 and a 200 day moving average price of $10.00. The stock has a market cap of $1.95 billion, a P/E ratio of -19.89 and a beta of 1.13.

NextNav Company Profile

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.