Vanguard Group Inc. Has $90.94 Million Stake in NextNav Inc. $NN

Vanguard Group Inc. lifted its position in shares of NextNav Inc. (NASDAQ:NN) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,359,543 shares of the company’s stock after buying an additional 40,814 shares during the quarter. Vanguard Group Inc. owned about 4.72% of NextNav worth $90,941,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NN. JPMorgan Chase & Co. grew its holdings in NextNav by 70.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 105,466 shares of the company’s stock worth $1,508,000 after acquiring an additional 43,694 shares during the period. Traynor Capital Management Inc. acquired a new stake in NextNav during the third quarter worth approximately $446,000. KLP Kapitalforvaltning AS grew its stake in NextNav by 41.6% during the third quarter. KLP Kapitalforvaltning AS now owns 21,100 shares of the company’s stock worth $302,000 after purchasing an additional 6,200 shares during the period. Perigon Wealth Management LLC lifted its stake in NextNav by 14.0% in the third quarter. Perigon Wealth Management LLC now owns 43,335 shares of the company’s stock valued at $620,000 after buying an additional 5,335 shares during the period. Finally, Harbor Capital Advisors Inc. grew its stake in NextNav by 180.0% in the third quarter. Harbor Capital Advisors Inc. now owns 19,283 shares of the company’s stock valued at $276,000 after acquiring an additional 12,395 shares during the period. Institutional investors and hedge funds own 79.16% of the company’s stock.

NextNav Price Performance

Shares of NextNav stock opened at $16.56 on Friday. The stock has a fifty day moving average price of $15.80 and a 200-day moving average price of $15.19. NextNav Inc. has a 1 year low of $9.48 and a 1 year high of $18.25. The firm has a market cap of $2.23 billion, a PE ratio of -12.74 and a beta of 0.96.

Analyst Ratings Changes

NN has been the topic of a number of research reports. Wall Street Zen lowered NextNav from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextNav in a research note on Thursday, January 22nd. One 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, NextNav presently has an average rating of “Reduce”.

Insider Buying and Selling

In related news, CAO Sammaad Shams sold 1,576 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $16.24, for a total value of $25,594.24. Following the transaction, the chief accounting officer owned 65,995 shares of the company’s stock, valued at $1,071,758.80. This represents a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mariam Sorond sold 69,853 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $16.91, for a total transaction of $1,181,214.23. Following the transaction, the chief executive officer owned 1,270,946 shares in the company, valued at $21,491,696.86. The trade was a 5.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In 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 Company 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.