AST SpaceMobile, Inc. (NASDAQ:ASTS) Stock Position Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 19.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,345 shares of the company’s stock after selling 2,222 shares during the period. Principal Financial Group Inc.’s holdings in AST SpaceMobile were worth $244,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Janus Henderson Group PLC raised its holdings in AST SpaceMobile by 209.9% during the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock worth $21,606,000 after buying an additional 5,046,667 shares during the period. Vanguard Group Inc. increased its position in shares of AST SpaceMobile by 49.9% in the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock worth $19,325,000 after acquiring an additional 2,217,531 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of AST SpaceMobile during the second quarter valued at approximately $9,270,000. Renaissance Technologies LLC purchased a new stake in shares of AST SpaceMobile in the 2nd quarter valued at approximately $4,757,000. Finally, Seven Eight Capital LP purchased a new stake in shares of AST SpaceMobile in the 2nd quarter valued at approximately $3,387,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AST SpaceMobile

In related news, Director Adriana Cisneros bought 4,934 shares of the business’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the acquisition, the director now directly owns 774,772 shares in the company, valued at approximately $20,391,999.04. This represents a 0.64 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $23.12, for a total value of $62,424.00. Following the sale, the president now directly owns 712,660 shares of the company’s stock, valued at $16,476,699.20. The trade was a 0.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,700 shares of company stock valued at $3,220,524. 41.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ASTS has been the topic of several research analyst reports. UBS Group lifted their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Scotiabank lowered their price target on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a report on Friday, November 15th. B. Riley increased their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th.

AST SpaceMobile Trading Up 0.5 %

NASDAQ ASTS opened at $24.21 on Tuesday. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile, Inc. has a 1-year low of $1.97 and a 1-year high of $39.08. The firm’s fifty day simple moving average is $25.26 and its 200-day simple moving average is $19.46. The company has a market capitalization of $7.01 billion, a PE ratio of -11.42 and a beta of 1.64.

About AST SpaceMobile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.