Vanguard Group Inc. Raises Stock Position in NextNav Inc. $NN

Vanguard Group Inc. grew its holdings in shares of NextNav Inc. (NASDAQ:NN) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,359,543 shares of the company’s stock after purchasing an additional 40,814 shares during the period. Vanguard Group Inc.’s holdings in NextNav were worth $90,941,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in NextNav by 6.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,933,030 shares of the company’s stock valued at $29,385,000 after buying an additional 115,261 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of NextNav by 34.5% in the first quarter. Goldman Sachs Group Inc. now owns 468,748 shares of the company’s stock worth $5,705,000 after acquiring an additional 120,123 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of NextNav by 159.9% during the second quarter. Bank of America Corp DE now owns 373,817 shares of the company’s stock valued at $5,682,000 after acquiring an additional 229,988 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of NextNav in the 2nd quarter worth about $4,726,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in NextNav by 2.8% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 219,911 shares of the company’s stock worth $3,343,000 after purchasing an additional 6,050 shares in the last quarter. Hedge funds and other institutional investors own 79.16% of the company’s stock.

NextNav Stock Up 1.2%

Shares of NN stock opened at $16.56 on Friday. The company’s 50 day moving average is $15.80 and its 200 day moving average is $15.19. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -12.74 and a beta of 0.96. NextNav Inc. has a 52-week low of $9.48 and a 52-week high of $18.25.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NN shares. Wall Street Zen lowered shares of NextNav from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Weiss Ratings restated a “sell (d-)” rating on shares of NextNav in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, NextNav has a consensus rating of “Reduce”.

Insider Buying and Selling at NextNav

In other NextNav news, CEO Mariam Sorond sold 69,853 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $16.91, for a total value of $1,181,214.23. Following the completion of the transaction, the chief executive officer directly owned 1,270,946 shares in the company, valued at approximately $21,491,696.86. The trade was a 5.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Sammaad Shams sold 1,576 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $16.24, for a total value of $25,594.24. Following the completion of the transaction, the chief accounting officer owned 65,995 shares of the company’s stock, valued at approximately $1,071,758.80. The trade was a 2.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 71,544 shares of company stock valued at $1,208,753. Corporate insiders own 7.70% of the company’s stock.

NextNav 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.