LPL Financial LLC Trims Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

LPL Financial LLC lessened its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 12.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 354,700 shares of the company's stock after selling 51,835 shares during the quarter. LPL Financial LLC owned approximately 0.12% of AST SpaceMobile worth $7,484,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in AST SpaceMobile during the 4th quarter worth $46,000. AlphaQuest LLC purchased a new position in AST SpaceMobile during the fourth quarter worth about $67,000. SRS Capital Advisors Inc. increased its stake in AST SpaceMobile by 554.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company's stock valued at $73,000 after buying an additional 2,950 shares during the last quarter. Sunbelt Securities Inc. lifted its position in shares of AST SpaceMobile by 3,380.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company's stock worth $91,000 after buying an additional 3,380 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of AST SpaceMobile by 667.1% in the 4th quarter. Jones Financial Companies Lllp now owns 5,454 shares of the company's stock worth $115,000 after buying an additional 4,743 shares during the last quarter. Institutional investors own 60.95% of the company's stock.

Wall Street Analyst Weigh In

ASTS has been the subject of a number of research analyst reports. UBS Group increased their price target on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Scotiabank reaffirmed an "outperform" rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, AST SpaceMobile 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 dated Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the transaction, the director now owns 52,628 shares in the company, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 41.80% of the stock is owned by corporate insiders.

AST SpaceMobile Stock Performance

NASDAQ:ASTS traded up $3.84 during trading hours on Wednesday, reaching $24.14. The stock had a trading volume of 17,983,257 shares, compared to its average volume of 12,257,563. The stock has a market cap of $7.64 billion, a P/E ratio of -11.39 and a beta of 1.81. The stock has a 50 day simple moving average of $26.78 and a 200 day simple moving average of $24.74. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. AST SpaceMobile, Inc. has a 12-month low of $1.99 and a 12-month high of $39.08.

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.