Geode Capital Management LLC Increases Stock Holdings in NextNav Inc. (NASDAQ:NN)

Geode Capital Management LLC increased its holdings in NextNav Inc. (NASDAQ:NN - Free Report) by 10.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,691,508 shares of the company's stock after buying an additional 158,455 shares during the quarter. Geode Capital Management LLC owned about 1.34% of NextNav worth $12,672,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Raymond James & Associates grew its holdings in NextNav by 1.0% during the second quarter. Raymond James & Associates now owns 156,000 shares of the company's stock worth $1,265,000 after acquiring an additional 1,500 shares during the period. Van ECK Associates Corp lifted its stake in shares of NextNav by 10.0% in the 3rd quarter. Van ECK Associates Corp now owns 21,412 shares of the company's stock valued at $160,000 after purchasing an additional 1,948 shares during the period. CIBC Asset Management Inc boosted its holdings in NextNav by 19.0% during the second quarter. CIBC Asset Management Inc now owns 19,652 shares of the company's stock worth $159,000 after buying an additional 3,140 shares in the last quarter. nVerses Capital LLC acquired a new stake in NextNav during the second quarter valued at $50,000. Finally, The Manufacturers Life Insurance Company increased its holdings in NextNav by 39.6% in the second quarter. The Manufacturers Life Insurance Company now owns 29,857 shares of the company's stock valued at $242,000 after buying an additional 8,466 shares in the last quarter. 79.16% of the stock is currently owned by institutional investors and hedge funds.

NextNav Price Performance

Shares of NASDAQ:NN traded down $1.06 during midday trading on Tuesday, hitting $15.56. The company's stock had a trading volume of 1,675,242 shares, compared to its average volume of 906,993. The company has a market cap of $2.03 billion, a P/E ratio of -20.75 and a beta of 1.13. NextNav Inc. has a 12-month low of $3.55 and a 12-month high of $18.54. The business's 50 day simple moving average is $15.09 and its 200 day simple moving average is $10.36. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.01 and a current ratio of 5.01.

Analysts Set New Price Targets

Separately, B. Riley raised their price objective on NextNav from $12.00 to $20.00 and gave the company a "buy" rating in a report on Thursday, November 14th.

Insider Buying and Selling

In related news, SVP Arun Raghupathy sold 3,332 shares of the company'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 transaction, the senior vice president now directly owns 1,087,019 shares in the company, valued at approximately $19,914,188.08. This represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 completion of the transaction, the chief executive officer now owns 1,574,117 shares of the company's stock, valued at $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 90 days, insiders have sold 209,367 shares of company stock worth $3,442,705. 15.70% of the stock is owned by corporate insiders.

NextNav Company Profile

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.