AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 9.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,267,066 shares of the company's stock after buying an additional 281,749 shares during the period. Geode Capital Management LLC owned 1.21% of AST SpaceMobile worth $85,450,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Fairfield Financial Advisors LTD acquired a new position in AST SpaceMobile in the 3rd quarter valued at about $26,000. Hollencrest Capital Management purchased a new stake in shares of AST SpaceMobile during the third quarter worth about $26,000. Rakuten Securities Inc. acquired a new position in shares of AST SpaceMobile in the third quarter valued at approximately $68,000. KBC Group NV acquired a new position in shares of AST SpaceMobile in the third quarter valued at approximately $104,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of AST SpaceMobile during the third quarter valued at approximately $105,000. 60.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. B. Riley lifted their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. UBS Group increased their target price on AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Finally, Scotiabank decreased their price target on AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating on the stock in a research note on Friday, November 15th.

Insider Buying and Selling

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the business's stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $23.12, for a total transaction of $62,424.00. Following the completion of the sale, the president now directly owns 712,660 shares in the company, valued at $16,476,699.20. The trade was a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Huiwen Yao sold 45,000 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the completion of the sale, the chief technology officer now directly owns 55,000 shares of the company's stock, valued at $1,334,300. The trade was a 45.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,700 shares of company stock valued at $3,220,524. 41.80% of the stock is currently owned by company insiders.

AST SpaceMobile Trading Down 0.5 %

Shares of ASTS traded down $0.12 during mid-day trading on Friday, reaching $22.88. The company had a trading volume of 9,506,310 shares, compared to its average volume of 10,425,780. AST SpaceMobile, Inc. has a fifty-two week low of $1.97 and a fifty-two week high of $39.08. The firm has a fifty day simple moving average of $24.65 and a 200-day simple moving average of $21.72. The stock has a market cap of $6.63 billion, a price-to-earnings ratio of -10.79 and a beta of 1.60. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

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.