NextNav Inc. $NN Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. decreased its holdings in NextNav Inc. (NASDAQ:NN) by 51.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,053 shares of the company’s stock after selling 112,706 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in NextNav were worth $1,781,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NN. Caitong International Asset Management Co. Ltd grew its position in NextNav by 732.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,127 shares of the company’s stock worth $69,000 after purchasing an additional 3,631 shares during the last quarter. Corient Private Wealth LLC increased its stake in NextNav by 104.7% in the fourth quarter. Corient Private Wealth LLC now owns 35,042 shares of the company’s stock valued at $583,000 after purchasing an additional 17,921 shares during the period. Tudor Investment Corp ET AL raised its holdings in shares of NextNav by 57.7% in the fourth quarter. Tudor Investment Corp ET AL now owns 99,942 shares of the company’s stock valued at $1,663,000 after buying an additional 36,563 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new stake in shares of NextNav in the fourth quarter valued at about $481,000. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of NextNav during the fourth quarter worth about $109,000. Institutional investors and hedge funds own 79.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NN. Wall Street Zen raised NextNav from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextNav in a research report on Tuesday, April 21st. Oppenheimer lifted their target price on NextNav from $25.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. B. Riley Financial reissued a “buy” rating on shares of NextNav in a report on Thursday, April 23rd. Finally, UBS Group set a $25.00 price target on NextNav in a research note on Thursday, April 16th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, NextNav currently has an average rating of “Hold” and an average price target of $37.50.

NextNav Stock Performance

NN stock opened at $17.83 on Wednesday. The stock has a market capitalization of $2.43 billion, a PE ratio of -14.74 and a beta of 1.04. The company has a fifty day moving average of $19.99 and a 200-day moving average of $17.65. NextNav Inc. has a one year low of $10.87 and a one year high of $24.42.

NextNav (NASDAQ:NN) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.03. The firm had revenue of $0.99 million for the quarter, compared to analyst estimates of $0.94 million. Equities analysts forecast that NextNav Inc. will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at NextNav

In other news, General Counsel James S. Black sold 1,878 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $22.96, for a total transaction of $43,118.88. Following the completion of the transaction, the general counsel directly owned 91,688 shares of the company’s stock, valued at approximately $2,105,156.48. This represents a 2.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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. Also, CAO Sammaad Shams sold 2,006 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $17.84, for a total value of $35,787.04. Following the completion of the sale, the chief accounting officer directly owned 70,944 shares of the company’s stock, valued at $1,265,640.96. This represents a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last 90 days, insiders have sold 76,567 shares of company stock valued at $1,522,252. 7.80% of the stock is owned by corporate insiders.

NextNav Company Profile

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.