AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Acquired by DnB Asset Management AS

DnB Asset Management AS lifted its position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 73.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 178,268 shares of the company's stock after purchasing an additional 75,442 shares during the quarter. DnB Asset Management AS owned about 0.06% of AST SpaceMobile worth $3,761,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ASTS. Vanguard Group Inc. grew its holdings in AST SpaceMobile by 49.4% in the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock valued at $316,233,000 after purchasing an additional 4,955,941 shares during the period. Geode Capital Management LLC lifted its position in shares of AST SpaceMobile by 9.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company's stock valued at $85,450,000 after buying an additional 281,749 shares in the last quarter. State Street Corp grew its stake in AST SpaceMobile by 14.8% in the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company's stock valued at $80,845,000 after acquiring an additional 399,713 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in AST SpaceMobile by 11.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock worth $26,728,000 after acquiring an additional 135,008 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in AST SpaceMobile by 0.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 854,063 shares of the company's stock worth $18,021,000 after acquiring an additional 7,991 shares during the period. Institutional investors and hedge funds own 60.95% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ASTS shares. Cantor Fitzgerald restated an "overweight" rating and issued a $30.00 price objective on shares of AST SpaceMobile in a report on Tuesday, March 4th. Scotiabank reissued an "outperform" rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Finally, UBS Group boosted their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $42.98.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the completion of the transaction, the director now owns 52,628 shares in the company, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 41.80% of the company's stock.

AST SpaceMobile Stock Performance

ASTS traded down $1.47 on Friday, hitting $20.11. 5,894,547 shares of the company traded hands, compared to its average volume of 12,061,228. The company has a 50 day moving average of $26.49 and a 200-day moving average of $25.00. AST SpaceMobile, Inc. has a 12-month low of $1.99 and a 12-month high of $39.08. The stock has a market capitalization of $6.36 billion, a PE ratio of -9.42 and a beta of 1.62. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

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.