NextNav (NASDAQ:NN) CEO Mariam Sorond Sells 69,853 Shares of Stock

NextNav Inc. (NASDAQ:NN) CEO Mariam Sorond sold 69,853 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $19.92, for a total value of $1,391,471.76. Following the sale, the chief executive officer directly owned 1,244,495 shares in the company, valued at approximately $24,790,340.40. This trade represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Mariam Sorond also recently made the following trade(s):

• On Tuesday, March 17th, Mariam Sorond sold 11,322 shares of NextNav stock. The stock was sold at an average price of $16.85, for a total value of $190,775.70.

NextNav Stock Performance

Shares of NASDAQ NN opened at $21.57 on Thursday. NextNav Inc. has a 52 week low of $10.87 and a 52 week high of $24.19. The stock has a market capitalization of $2.94 billion, a P/E ratio of -17.83 and a beta of 1.04. The stock’s fifty day moving average is $19.16 and its 200 day moving average is $16.94.

NextNav (NASDAQ:NN) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.03. The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.94 million. Equities research analysts forecast that NextNav Inc. will post -0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NN shares. B. Riley Financial restated a “buy” rating on shares of NextNav in a research report on Thursday, April 23rd. Wall Street Zen upgraded NextNav from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Oppenheimer raised their price target on NextNav from $25.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a research report on Tuesday, April 21st. Finally, UBS Group set a $25.00 price objective on NextNav in a research report on Thursday, April 16th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, NextNav currently has a consensus rating of “Hold” and a consensus price target of $37.50.

Hedge Funds Weigh In On NextNav

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in NextNav by 1.2% in the 1st quarter. Bank of America Corp DE now owns 260,018 shares of the company’s stock worth $4,165,000 after purchasing an additional 3,028 shares in the last quarter. Amundi increased its holdings in NextNav by 7.5% in the 1st quarter. Amundi now owns 43,703 shares of the company’s stock worth $700,000 after purchasing an additional 3,043 shares in the last quarter. California State Teachers Retirement System increased its holdings in NextNav by 41.6% in the 1st quarter. California State Teachers Retirement System now owns 97,347 shares of the company’s stock worth $1,559,000 after purchasing an additional 28,584 shares in the last quarter. Quantinno Capital Management LP acquired a new position in NextNav in the 1st quarter worth about $364,000. Finally, Sona Asset Management US LLC increased its stake in shares of NextNav by 37.9% in the first quarter. Sona Asset Management US LLC now owns 521,477 shares of the company’s stock valued at $8,354,000 after buying an additional 143,349 shares during the period. Institutional investors and hedge funds own 79.16% of the company’s stock.

About NextNav

NextNav, Inc is a provider of advanced 3D geolocation infrastructure and positioning services in the United States. The company operates a nationwide network designed to deliver real-time horizontal and vertical location data for consumer, enterprise and public safety applications. By leveraging spectrum holdings in the 900 MHz band, NextNav’s network offers precise altitude and position information that complements GPS and other satellite systems, particularly in urban canyons, indoors or underground environments where traditional signals struggle.

At the core of NextNav’s offering is its TerraPoiNT platform, which enables developers, carriers and emergency response centers to integrate high-accuracy vertical location into their applications and workflows.