Rockefeller Capital Management L.P. Has $8.26 Million Stake in AST SpaceMobile, Inc. $ASTS

Key Points

• Rockefeller Capital Management increased its AST SpaceMobile stake by 19.6% in the fourth quarter, ending with 113,696 shares valued at about $8.26 million.
• AST SpaceMobile shares were down 3.5% in Friday trading, with the stock opening at $65.62 and remaining well below its 52-week high of $133.86.
• The company reported a wider-than-expected loss in its latest quarterly earnings, while analysts currently hold a consensus rating of "Reduce" with an average target price of $85.09.

Rockefeller Capital Management L.P. grew its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) by 19.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,696 shares of the company's stock after buying an additional 18,599 shares during the period. Rockefeller Capital Management L.P.'s holdings in AST SpaceMobile were worth $8,258,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Focus Partners Wealth increased its stake in AST SpaceMobile by 8,016.7% in the fourth quarter. Focus Partners Wealth now owns 1,269,609 shares of the company's stock valued at $92,000,000 after purchasing an additional 1,253,967 shares in the last quarter. KPP Advisory Services LLC bought a new position in shares of AST SpaceMobile during the fourth quarter worth $1,649,000. M&T Bank Corp grew its holdings in shares of AST SpaceMobile by 1,062.9% in the 4th quarter. M&T Bank Corp now owns 77,994 shares of the company's stock valued at $5,665,000 after buying an additional 71,287 shares during the period. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in shares of AST SpaceMobile in the 4th quarter valued at $2,290,000. Finally, Legal & General Group Plc increased its position in shares of AST SpaceMobile by 26.2% in the 4th quarter. Legal & General Group Plc now owns 232,436 shares of the company's stock valued at $16,882,000 after buying an additional 48,318 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

AST SpaceMobile Trading Down 3.5%

Shares of NASDAQ:ASTS opened at $65.62 on Friday. The firm has a market cap of $25.47 billion, a price-to-earnings ratio of -36.87 and a beta of 2.70. AST SpaceMobile, Inc. has a 12 month low of $36.08 and a 12 month high of $133.86. The company's fifty day simple moving average is $87.49 and its 200 day simple moving average is $89.25. The company has a quick ratio of 18.37, a current ratio of 18.47 and a debt-to-equity ratio of 1.11.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.66) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.43). The company had revenue of $14.73 million during the quarter, compared to analyst estimates of $39.01 million. AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.AST SpaceMobile's revenue for the quarter was up 1952.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.20) earnings per share. As a group, research analysts forecast that AST SpaceMobile, Inc. will post -1.47 EPS for the current fiscal year.

Insider Transactions at AST SpaceMobile

In other news, major shareholder Hiroshi Mikitani sold 1,350,000 shares of the company's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $86.22, for a total transaction of $116,397,000.00. Following the completion of the transaction, the insider directly owned 27,980,155 shares of the company's stock, valued at $2,412,448,964.10. This represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Julio A. Torres sold 15,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $76.34, for a total value of $1,145,100.00. Following the transaction, the director owned 43,239 shares of the company's stock, valued at approximately $3,300,865.26. The trade was a 25.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 3,145,809 shares of company stock valued at $280,645,292. 20.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. New Street Research set a $106.00 price objective on AST SpaceMobile in a research note on Friday, May 29th. Barclays boosted their target price on AST SpaceMobile from $60.00 to $65.00 and gave the company an "underweight" rating in a research note on Thursday, April 9th. Wall Street Zen lowered AST SpaceMobile from a "sell" rating to a "strong sell" rating in a research report on Wednesday, April 15th. B. Riley Financial lifted their price objective on AST SpaceMobile from $75.00 to $85.00 and gave the company a "neutral" rating in a report on Tuesday, May 12th. Finally, William Blair reissued a "market perform" rating on shares of AST SpaceMobile in a research note on Friday, May 29th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, AST SpaceMobile presently has a consensus rating of "Reduce" and a consensus target price of $85.09.

About AST SpaceMobile

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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