Rockefeller Capital Management L.P. Acquires 18,599 Shares of AST SpaceMobile, Inc. $ASTS

Rockefeller Capital Management L.P. grew its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 19.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,696 shares of the company’s stock after buying an additional 18,599 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in AST SpaceMobile were worth $8,258,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Crewe Advisors LLC acquired a new stake in shares of AST SpaceMobile in the fourth quarter valued at about $25,000. Laurel Wealth Advisors LLC acquired a new position in AST SpaceMobile during the fourth quarter valued at approximately $25,000. Byrne Asset Management LLC acquired a new position in AST SpaceMobile during the fourth quarter valued at approximately $29,000. Acumen Wealth Advisors LLC bought a new position in AST SpaceMobile in the fourth quarter valued at approximately $29,000. Finally, Harvest Fund Management Co. Ltd bought a new position in AST SpaceMobile in the third quarter valued at approximately $29,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ASTS shares. Zacks Research upgraded AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Friday, March 27th. William Blair reaffirmed a “market perform” rating on shares of AST SpaceMobile in a research report on Friday, May 29th. B. Riley Financial increased their price target on shares of AST SpaceMobile from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Finally, New Street Research set a $106.00 price objective on shares of AST SpaceMobile in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $85.09.

AST SpaceMobile Stock Performance

ASTS opened at $65.62 on Friday. AST SpaceMobile, Inc. has a 12-month low of $36.08 and a 12-month high of $133.86. The stock has a market cap of $25.47 billion, a price-to-earnings ratio of -36.87 and a beta of 2.70. The business has a 50 day moving average of $87.49 and a 200-day moving average of $89.25. The company has a quick ratio of 18.37, a current ratio of 18.47 and a debt-to-equity ratio of 1.11.

AST SpaceMobile (NASDAQ:ASTS) last issued its earnings results on Monday, May 11th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.43). AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.The business had revenue of $14.73 million for the quarter, compared to the consensus estimate of $39.01 million. During the same quarter in the prior year, the firm posted ($0.20) earnings per share. The business’s revenue was up 1952.2% compared to the same quarter last year. On average, equities research analysts expect that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current year.

Insider Activity at AST SpaceMobile

In other news, Director Julio A. Torres sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $76.34, for a total transaction of $1,145,100.00. Following the completion of the sale, the director owned 43,239 shares in the company, valued at approximately $3,300,865.26. This trade represents a 25.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $96.37, for a total transaction of $3,854,800.00. Following the sale, the chief technology officer directly owned 34,750 shares of the company’s stock, valued at $3,348,857.50. The trade was a 53.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 3,145,809 shares of company stock worth $280,645,292. 20.89% of the stock is owned by corporate insiders.

About AST SpaceMobile

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company’s core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.