Cypress Point Wealth Management LLC Makes New Investment in AST SpaceMobile, Inc. $ASTS

Key Points

• Cypress Point Wealth Management acquired a new position of 8,000 shares (~$581,000) in AST SpaceMobile during Q4, joining other institutional moves that leave institutions owning about 60.95% of the stock.
• Corporate insiders sold a total of 3,080,000 shares worth roughly $274.45 million in the last quarter — including CTO Huiwen Yao and major shareholder Hiroshi Mikitani — though insiders still hold about 30.90% of the company.
• Analyst coverage is mixed with a MarketBeat consensus of "Reduce" (average target $82.51); ASTS missed quarterly EPS (loss of $0.26 vs. -$0.18 est.) despite revenue rising 2731% YoY and the company carrying negative margins and an expected -0.99 EPS for the year.

Cypress Point Wealth Management LLC acquired a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,000 shares of the company's stock, valued at approximately $581,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Strs Ohio increased its stake in AST SpaceMobile by 14.6% during the 4th quarter. Strs Ohio now owns 5,272 shares of the company's stock worth $383,000 after acquiring an additional 670 shares during the period. Composition Wealth LLC increased its stake in AST SpaceMobile by 2.4% during the 4th quarter. Composition Wealth LLC now owns 11,603 shares of the company's stock worth $843,000 after acquiring an additional 273 shares during the period. Fifth Third Bancorp increased its stake in AST SpaceMobile by 607.0% during the 4th quarter. Fifth Third Bancorp now owns 707 shares of the company's stock worth $51,000 after acquiring an additional 607 shares during the period. Activest Wealth Management increased its stake in AST SpaceMobile by 107.2% during the 4th quarter. Activest Wealth Management now owns 1,210 shares of the company's stock worth $88,000 after acquiring an additional 626 shares during the period. Finally, Laurel Wealth Advisors LLC bought a new position in AST SpaceMobile during the 4th quarter worth $25,000. Institutional investors own 60.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ASTS. UBS Group raised their price objective on AST SpaceMobile from $43.00 to $85.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 4th. Zacks Research upgraded AST SpaceMobile from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 4th. Scotiabank lowered AST SpaceMobile from a "sector perform" rating to a "sector underperform" rating and set a $45.60 price target on the stock. in a research note on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft set a $117.00 price target on AST SpaceMobile in a research note on Wednesday, April 15th. Finally, Barclays lifted their price target on AST SpaceMobile from $60.00 to $65.00 and gave the company an "underweight" rating in a research note on Thursday, April 9th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $82.51.

AST SpaceMobile Stock Performance

NASDAQ ASTS opened at $70.89 on Monday. The business's 50-day moving average price is $86.85 and its two-hundred day moving average price is $83.37. AST SpaceMobile, Inc. has a 12 month low of $22.47 and a 12 month high of $129.89. The firm has a market capitalization of $27.08 billion, a PE ratio of -53.70 and a beta of 2.60. The company has a current ratio of 16.35, a quick ratio of 16.27 and a debt-to-equity ratio of 0.92.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last released its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.08). AST SpaceMobile had a negative net margin of 482.16% and a negative return on equity of 23.02%. The company had revenue of $54.31 million during the quarter, compared to the consensus estimate of $39.53 million. The company's revenue was up 2731.3% on a year-over-year basis. On average, analysts expect that AST SpaceMobile, Inc. will post -0.99 EPS for the current year.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, CTO Huiwen Yao sold 40,000 shares of the company's stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $88.88, for a total value of $3,555,200.00. Following the sale, the chief technology officer owned 4,750 shares in the company, valued at approximately $422,180. The trade was a 89.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Hiroshi Mikitani sold 1,350,000 shares of the company's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $86.22, for a total value of $116,397,000.00. Following the completion of the sale, the insider owned 27,980,155 shares in the company, valued at $2,412,448,964.10. This trade represents a 4.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,080,000 shares of company stock worth $274,452,000 in the last quarter. Corporate insiders own 30.90% of the company's stock.

AST SpaceMobile Profile

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company's core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.

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