Rockefeller Capital Management L.P. Decreases Stock Position in NextNav Inc. $NN

Rockefeller Capital Management L.P. trimmed its stake in shares of NextNav Inc. (NASDAQ:NN) by 51.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,053 shares of the company’s stock after selling 112,706 shares during the quarter. Rockefeller Capital Management L.P. owned 0.08% of NextNav worth $1,781,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of NextNav by 9.0% during the fourth quarter. Vanguard Group Inc. now owns 6,932,757 shares of the company’s stock worth $115,361,000 after buying an additional 573,214 shares in the last quarter. Susquehanna Advisors Group Inc. raised its holdings in NextNav by 1.4% in the fourth quarter. Susquehanna Advisors Group Inc. now owns 5,482,340 shares of the company’s stock valued at $91,226,000 after acquiring an additional 74,995 shares in the last quarter. Geode Capital Management LLC raised its holdings in NextNav by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 2,268,473 shares of the company’s stock valued at $37,754,000 after acquiring an additional 100,058 shares in the last quarter. State Street Corp lifted its stake in NextNav by 1.9% in the fourth quarter. State Street Corp now owns 2,171,877 shares of the company’s stock worth $36,140,000 after acquiring an additional 40,762 shares during the last quarter. Finally, Plustick Management LLC lifted its stake in NextNav by 1.3% in the fourth quarter. Plustick Management LLC now owns 2,065,818 shares of the company’s stock worth $34,375,000 after acquiring an additional 25,818 shares during the last quarter. Institutional investors and hedge funds own 79.16% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on NN. Wall Street Zen raised shares of NextNav from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. B. Riley Financial reaffirmed a “buy” rating on shares of NextNav in a research report on Thursday, April 23rd. UBS Group set a $25.00 target price on shares of NextNav in a research note on Thursday, April 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a report on Tuesday, April 21st. Finally, Oppenheimer raised their price target on NextNav from $25.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, NextNav presently has a consensus rating of “Hold” and a consensus price target of $37.50.

Insider Transactions at NextNav

In other news, General Counsel James S. Black sold 1,878 shares of NextNav stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $22.96, for a total transaction of $43,118.88. Following the sale, the general counsel owned 91,688 shares in the company, valued at approximately $2,105,156.48. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mariam Sorond sold 2,830 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $18.33, for a total value of $51,873.90. Following the completion of the sale, the chief executive officer directly owned 1,241,665 shares of the company’s stock, valued at $22,759,719.45. The trade was a 0.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 76,567 shares of company stock worth $1,522,252. Corporate insiders own 7.80% of the company’s stock.

NextNav Price Performance

Shares of NextNav stock opened at $17.83 on Wednesday. NextNav Inc. has a 52 week low of $10.87 and a 52 week high of $24.42. The firm’s 50 day moving average is $19.99 and its two-hundred day moving average is $17.65. The firm has a market capitalization of $2.43 billion, a P/E ratio of -14.74 and a beta of 1.04.

NextNav (NASDAQ:NN) last issued its earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.03. The company had revenue of $0.99 million during the quarter, compared to analyst estimates of $0.94 million. As a group, research analysts expect that NextNav Inc. will post -0.48 earnings per share for the current fiscal year.

About NextNav

NextNav, Inc is a provider of advanced 3D geolocation infrastructure and positioning services in the United States. The company operates a nationwide network designed to deliver real-time horizontal and vertical location data for consumer, enterprise and public safety applications. By leveraging spectrum holdings in the 900 MHz band, NextNav’s network offers precise altitude and position information that complements GPS and other satellite systems, particularly in urban canyons, indoors or underground environments where traditional signals struggle.

At the core of NextNav’s offering is its TerraPoiNT platform, which enables developers, carriers and emergency response centers to integrate high-accuracy vertical location into their applications and workflows.