Fmr LLC Purchases 12,804 Shares of NextNav Inc. (NASDAQ:NN)

Fmr LLC grew its position in shares of NextNav Inc. (NASDAQ:NN) by 354.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,418 shares of the company’s stock after buying an additional 12,804 shares during the quarter. Fmr LLC’s holdings in NextNav were worth $123,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. nVerses Capital LLC bought a new stake in NextNav during the 2nd quarter worth about $50,000. Principal Financial Group Inc. bought a new stake in shares of NextNav during the second quarter valued at approximately $82,000. Quest Partners LLC acquired a new stake in shares of NextNav in the second quarter valued at approximately $88,000. King Luther Capital Management Corp bought a new position in NextNav in the 3rd quarter worth approximately $90,000. Finally, Wolverine Asset Management LLC lifted its holdings in NextNav by 323.6% during the 2nd quarter. Wolverine Asset Management LLC now owns 12,106 shares of the company’s stock worth $98,000 after buying an additional 9,248 shares in the last quarter. Institutional investors and hedge funds own 79.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley lifted their target price on NextNav from $12.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, November 14th.

Insider Activity at NextNav

In related news, SVP Arun Raghupathy sold 3,332 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $18.32, for a total value of $61,042.24. Following the completion of the transaction, the senior vice president now directly owns 1,087,019 shares in the company, valued at approximately $19,914,188.08. The trade was a 0.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mariam Sorond sold 200,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $16.40, for a total value of $3,280,000.00. Following the sale, the chief executive officer now directly owns 1,574,117 shares of the company’s stock, valued at approximately $25,815,518.80. The trade was a 11.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,367 shares of company stock worth $3,442,705. 15.70% of the stock is owned by insiders.

NextNav Stock Performance

Shares of NASDAQ:NN opened at $15.60 on Monday. The stock has a market capitalization of $2.04 billion, a P/E ratio of -20.80 and a beta of 1.13. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. NextNav Inc. has a 1-year low of $3.55 and a 1-year high of $18.54. The business has a 50-day moving average price of $14.09 and a two-hundred day moving average price of $9.95.

About NextNav

NextNav Inc provides next generation positioning, navigation, and timing (PNT) solutions in the United States. It offers Pinnacle, a dedicated vertical positioning network to cover entire metropolitan areas including devices equipped with a barometric pressure sensor with the highest quality wide-area altitude service.