Globalstar (NASDAQ:GSAT) CFO Sells $322,354.45 in Stock

Key Points

• Rebecca Clary sold 4,037 shares on April 15 at an average price of $79.85 for $322,354.45 to cover tax withholding from vested equity, reducing her stake by 3.37% to 115,741 shares.
• Amazon agreed to buy Globalstar for about $11.57 billion, positioning Globalstar’s spectrum and satellites for Amazon’s direct‑to‑device strategy (with reported Apple tie‑ins), while multiple shareholder‑rights firms have opened investigations into the fairness of the deal.
• GSAT shares traded near $80.64 on heavy volume, valuing the company at roughly $10.37 billion; analysts hold a mixed view with a MarketBeat consensus rating of Hold and an average target of $69.

Globalstar, Inc. (NASDAQ:GSAT - Get Free Report) CFO Rebecca Clary sold 4,037 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $79.85, for a total value of $322,354.45. Following the completion of the transaction, the chief financial officer owned 115,741 shares of the company's stock, valued at $9,241,918.85. The trade was a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rebecca Clary also recently made the following trade(s):

• On Wednesday, March 11th, Rebecca Clary sold 762 shares of Globalstar stock. The stock was sold at an average price of $57.31, for a total value of $43,670.22.
• On Tuesday, March 10th, Rebecca Clary sold 351 shares of Globalstar stock. The stock was sold at an average price of $55.38, for a total value of $19,438.38.

Globalstar Price Performance

GSAT stock traded up $0.73 during midday trading on Wednesday, hitting $80.64. The company's stock had a trading volume of 4,101,775 shares, compared to its average volume of 1,026,535. Globalstar, Inc. has a 12 month low of $17.24 and a 12 month high of $81.07. The company has a quick ratio of 2.37, a current ratio of 2.42 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $10.37 billion, a price-to-earnings ratio of -537.56, a price-to-earnings-growth ratio of 119.00 and a beta of 1.46. The company has a 50 day moving average of $62.86 and a two-hundred day moving average of $58.99.

Globalstar (NASDAQ:GSAT - Get Free Report) last posted its earnings results on Friday, February 27th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.12). The firm had revenue of $71.96 million for the quarter, compared to the consensus estimate of $71.80 million. Globalstar had a negative net margin of 6.10% and a negative return on equity of 1.02%. The company's quarterly revenue was up 17.6% on a year-over-year basis.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Zacks Research upgraded Globalstar from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 1st. Deutsche Bank Aktiengesellschaft assumed coverage on Globalstar in a research report on Tuesday, December 16th. They set a "hold" rating and a $62.00 target price for the company. Craig Hallum reiterated a "buy" rating and set a $70.00 target price on shares of Globalstar in a research report on Monday, March 2nd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Globalstar in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $69.00.

Institutional Trading of Globalstar

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in Globalstar in the third quarter worth $713,000. Essex Investment Management Co. LLC bought a new stake in Globalstar in the third quarter worth $7,072,000. JT Stratford LLC bought a new stake in Globalstar in the third quarter worth $2,678,000. Vanguard Group Inc. lifted its position in Globalstar by 2.8% in the third quarter. Vanguard Group Inc. now owns 5,233,721 shares of the company's stock worth $190,455,000 after buying an additional 141,451 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Globalstar by 24.3% in the third quarter. American Century Companies Inc. now owns 1,260,459 shares of the company's stock worth $45,868,000 after buying an additional 246,123 shares during the last quarter. 18.89% of the stock is currently owned by institutional investors.

Key Globalstar News

Here are the key news stories impacting Globalstar this week:

• Positive Sentiment: Amazon agreed to buy Globalstar in a roughly $11.57B deal that positions GSAT’s spectrum and satellite assets at the center of Amazon’s direct‑to‑device connectivity strategy — a clear strategic exit/valuation event for shareholders. Amazon to buy Globalstar for $11.57B in bid to flesh out its satellite biz
• Positive Sentiment: Coverage highlights an Apple tie‑in (iPhone/iWatch satellite features powered by Globalstar capacity) that increases the strategic value and revenue opportunity of Globalstar’s assets under Amazon ownership. Amazon and Apple vs. Starlink: Globalstar satellite acquisition comes with a big iPhone bonus
• Positive Sentiment: Analysts (e.g., Jefferies) frame the deal as a long‑duration strategic bet that accelerates Amazon’s roadmap to offer satellite‑to‑phone services and strengthens competitive positioning versus SpaceX/Starlink. Amazon's $12.5B Globalstar deal seen as long-term strategic bet, Jefferies says
• Positive Sentiment: Market flows and sentiment show heavy interest — unusually large call option volume and sharp intraday moves — consistent with takeover premium dynamics and speculation.
• Neutral Sentiment: Analysts caution the acquisition doesn’t solve industry constraints such as rocket‑launch bottlenecks and the long lead time required to build out a competing LEO network; that tempers how fast new services can scale. Amazon's $11.6 billion Globalstar deal will not fix rocket launch bottleneck, analysts say
• Negative Sentiment: Multiple shareholder‑rights firms have opened investigations into whether the $90 per‑share deal (or the stock‑option alternative) is fair and whether the sale process was adequate — these actions could lead to litigation, disclosure demands or delays to closing. Globalstar Stock Jumps on Amazon Buyout: What Lies Ahead? Globalstar Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Globalstar, Inc. - GSAT

About Globalstar

Globalstar, Inc is a leading provider of mobile satellite voice and data communications services. Through a network of low Earth orbit (LEO) satellites, the company delivers reliable satellite connectivity to users in remote or underserved regions where terrestrial networks are unavailable or unreliable. Its product portfolio includes satellite phones, two-way satellite data modems and Internet of Things (IoT) devices designed for tracking, monitoring and emergency notification.

Founded in 1991 as a joint venture between Loral and Qualcomm, Globalstar launched its first fleet of 48 satellites between 1998 and 2000.

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