Marshall Wace LLP Purchases Shares of 207,583 AST SpaceMobile, Inc. (NASDAQ:ASTS)

Marshall Wace LLP bought a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 207,583 shares of the company's stock, valued at approximately $4,380,000. Marshall Wace LLP owned approximately 0.07% of AST SpaceMobile at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in AST SpaceMobile by 49.4% during the 4th quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock valued at $316,233,000 after acquiring an additional 4,955,941 shares during the period. Bank of New York Mellon Corp raised its holdings in AST SpaceMobile by 57.6% in the fourth quarter. Bank of New York Mellon Corp now owns 641,678 shares of the company's stock worth $13,539,000 after buying an additional 234,517 shares during the last quarter. Geode Capital Management LLC raised its holdings in AST SpaceMobile by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company's stock worth $73,801,000 after buying an additional 229,759 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in AST SpaceMobile by 235.9% in the third quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company's stock worth $6,479,000 after buying an additional 174,007 shares during the last quarter. Finally, ExodusPoint Capital Management LP raised its holdings in AST SpaceMobile by 237.1% in the fourth quarter. ExodusPoint Capital Management LP now owns 227,566 shares of the company's stock worth $4,802,000 after buying an additional 160,068 shares during the last quarter. Institutional investors own 60.95% of the company's stock.

AST SpaceMobile Price Performance

Shares of ASTS stock traded down $0.69 on Wednesday, hitting $23.21. 5,412,960 shares of the stock traded hands, compared to its average volume of 12,543,202. AST SpaceMobile, Inc. has a 52 week low of $2.12 and a 52 week high of $39.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The firm has a market cap of $7.35 billion, a price-to-earnings ratio of -10.95 and a beta of 1.81. The firm has a 50 day simple moving average of $25.15 and a two-hundred day simple moving average of $24.59.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ASTS shares. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 price objective on shares of AST SpaceMobile in a report on Tuesday, March 4th. Scotiabank reissued an "outperform" rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. UBS Group boosted their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Finally, Roth Capital assumed coverage on shares of AST SpaceMobile in a research report on Thursday, April 10th. They set a "buy" rating and a $42.00 target price for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $42.82.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.73, for a total transaction of $614,600.00. Following the sale, the director now directly owns 52,628 shares of the company's stock, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 41.80% of the company's stock.

AST SpaceMobile Profile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.