State Street Corp Has $80.85 Million Stock Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

State Street Corp boosted its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 14.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,091,577 shares of the company’s stock after acquiring an additional 399,713 shares during the quarter. State Street Corp owned 1.15% of AST SpaceMobile worth $80,845,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Amalgamated Bank boosted its holdings in shares of AST SpaceMobile by 17.4% during the third quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock worth $120,000 after purchasing an additional 679 shares during the period. Victory Capital Management Inc. lifted its position in AST SpaceMobile by 5.5% in the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock worth $180,000 after buying an additional 814 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new stake in shares of AST SpaceMobile during the 3rd quarter valued at $26,000. Hollencrest Capital Management acquired a new stake in shares of AST SpaceMobile during the 3rd quarter valued at $26,000. Finally, Calton & Associates Inc. increased its stake in shares of AST SpaceMobile by 14.5% in the third quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock worth $329,000 after acquiring an additional 1,600 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AST SpaceMobile

In related news, COO Shanti B. Gupta sold 80,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the completion of the transaction, the chief operating officer now owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. The trade was a 16.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Scott Wisniewski sold 2,700 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $23.12, for a total value of $62,424.00. Following the sale, the president now owns 712,660 shares of the company’s stock, valued at approximately $16,476,699.20. The trade was a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,700 shares of company stock worth $3,220,524 over the last 90 days. Insiders own 41.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on ASTS shares. B. Riley lifted their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Scotiabank lowered their price target on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a research note on Friday, November 15th. UBS Group increased their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of 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 Stock Up 3.5 %

Shares of ASTS stock opened at $24.30 on Tuesday. The stock’s 50 day simple moving average is $24.65 and its 200 day simple moving average is $21.48. AST SpaceMobile, Inc. has a twelve month low of $1.97 and a twelve month high of $39.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The company has a market capitalization of $7.04 billion, a price-to-earnings ratio of -11.46 and a beta of 1.60.

AST SpaceMobile Company Profile

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.