State Street Corp Acquires 399,713 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

State Street Corp increased its holdings in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 14.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,091,577 shares of the company's stock after buying an additional 399,713 shares during the period. State Street Corp owned about 1.15% of AST SpaceMobile worth $80,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of ASTS. Amalgamated Bank boosted its holdings in AST SpaceMobile by 17.4% in the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company's stock valued at $120,000 after purchasing an additional 679 shares in the last quarter. Victory Capital Management Inc. increased its position in AST SpaceMobile by 5.5% during the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company's stock worth $180,000 after purchasing an additional 814 shares in the last quarter. Fairfield Financial Advisors LTD purchased a new position in AST SpaceMobile in the 3rd quarter worth approximately $26,000. Hollencrest Capital Management purchased a new position in shares of AST SpaceMobile during the 3rd quarter valued at approximately $26,000. Finally, Calton & Associates Inc. grew its position in shares of AST SpaceMobile by 14.5% in the 3rd quarter. Calton & Associates Inc. now owns 12,600 shares of the company's stock worth $329,000 after acquiring an additional 1,600 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AST SpaceMobile

In other news, COO Shanti B. Gupta sold 80,000 shares of the business's stock in a transaction on Monday, September 30th. The shares were sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the sale, the chief operating officer now owns 393,232 shares in the company, valued at approximately $10,157,182.56. The trade was a 16.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Huiwen Yao sold 45,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the sale, the chief technology officer now directly owns 55,000 shares of the company's stock, valued at $1,334,300. This trade represents a 45.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,700 shares of company stock worth $3,220,524 in the last ninety days. Company insiders own 41.80% of the company's stock.

AST SpaceMobile Price Performance

NASDAQ ASTS traded up $0.48 during midday trading on Tuesday, hitting $24.78. The company had a trading volume of 6,983,073 shares, compared to its average volume of 10,457,845. The company has a market capitalization of $7.18 billion, a PE ratio of -11.69 and a beta of 1.60. AST SpaceMobile, Inc. has a twelve month low of $1.97 and a twelve month high of $39.08. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $24.66 and a 200-day moving average price of $21.60.

Analyst Ratings Changes

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

AST SpaceMobile 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.