NextNav Inc. $NN Holdings Lifted by California State Teachers Retirement System

California State Teachers Retirement System raised its position in NextNav Inc. (NASDAQ:NN) by 41.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 97,347 shares of the company’s stock after acquiring an additional 28,584 shares during the quarter. California State Teachers Retirement System’s holdings in NextNav were worth $1,559,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Caitong International Asset Management Co. Ltd grew its holdings in NextNav by 347.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,217 shares of the company’s stock worth $37,000 after buying an additional 1,721 shares in the last quarter. KBC Group NV bought a new stake in NextNav during the 1st quarter valued at $38,000. Kemnay Advisory Services Inc. acquired a new position in NextNav during the 4th quarter worth $97,000. Osterweis Capital Management Inc. acquired a new position in NextNav during the 4th quarter worth $109,000. Finally, Kestra Advisory Services LLC bought a new position in shares of NextNav in the fourth quarter worth $116,000. 79.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NN shares. B. Riley Financial reissued a “buy” rating on shares of NextNav in a report on Thursday, April 23rd. Zacks Research upgraded shares of NextNav from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of NextNav in a research note on Friday, July 17th. Odeon Capital Group began coverage on shares of NextNav in a research note on Monday, July 20th. They set a “buy” rating and a $22.00 target price on the stock. Finally, Oppenheimer boosted their price target on shares of NextNav from $25.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.33.

Insiders Place Their Bets

In other news, General Counsel James S. Black sold 1,878 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $22.96, for a total transaction of $43,118.88. Following the completion of the transaction, the general counsel owned 91,688 shares in the company, valued at approximately $2,105,156.48. This trade represents a 2.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 NextNav stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $18.33, for a total transaction of $51,873.90. Following the completion of the transaction, the chief executive officer directly owned 1,241,665 shares in the company, valued at $22,759,719.45. This represents a 0.23% decrease in their position. The SEC filing for this sale provides additional information. 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 three months, insiders have sold 76,567 shares of company stock worth $1,522,252. 7.80% of the stock is owned by corporate insiders.

NextNav Stock Performance

Shares of NN stock opened at $19.51 on Friday. NextNav Inc. has a 1 year low of $10.87 and a 1 year high of $24.42. The business’s fifty day moving average is $16.50 and its 200-day moving average is $17.43. The stock has a market cap of $3.29 billion, a PE ratio of -20.11 and a beta of 1.10.

NextNav (NASDAQ:NN) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.08). The firm had revenue of $1.15 million during the quarter, compared to analyst estimates of $0.92 million. Equities research analysts predict that NextNav Inc. will post -0.44 earnings per share for the current year.

NextNav Company Profile

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.