Wells Fargo & Company MN Has $592,000 Holdings in NextNav Inc. (NASDAQ:NN)

Wells Fargo & Company MN raised its position in NextNav Inc. (NASDAQ:NN) by 52.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 38,031 shares of the company’s stock after purchasing an additional 13,066 shares during the period. Wells Fargo & Company MN’s holdings in NextNav were worth $592,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. US Bancorp DE bought a new stake in NextNav in the fourth quarter worth approximately $28,000. Golden State Wealth Management LLC acquired a new stake in shares of NextNav during the 4th quarter worth approximately $78,000. Mission Wealth Management LP acquired a new stake in shares of NextNav during the 4th quarter worth approximately $156,000. Wharton Business Group LLC bought a new stake in shares of NextNav in the 4th quarter valued at $156,000. Finally, Whitaker Myers Wealth Managers LTD. acquired a new position in shares of NextNav during the 4th quarter valued at $157,000. 79.16% of the stock is owned by institutional investors.

NextNav Trading Up 3.4 %

NASDAQ:NN opened at $13.20 on Friday. NextNav Inc. has a 12 month low of $6.47 and a 12 month high of $18.54. The company has a current ratio of 5.01, a quick ratio of 5.01 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -17.60 and a beta of 1.03. The firm has a fifty day simple moving average of $11.70 and a two-hundred day simple moving average of $13.03.

NextNav (NASDAQ:NN) last issued its earnings results on Wednesday, March 12th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.10). NextNav had a negative net margin of 1,732.92% and a negative return on equity of 128.95%. The firm had revenue of $1.91 million during the quarter, compared to analyst estimates of $1.73 million. Analysts expect that NextNav Inc. will post -0.74 EPS for the current fiscal year.

Insider Activity

In other news, CFO Christian D. Gates sold 5,730 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $11.24, for a total value of $64,405.20. Following the transaction, the chief financial officer now owns 857,206 shares in the company, valued at $9,634,995.44. This trade represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mariam Sorond sold 62,868 shares of NextNav stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $11.23, for a total value of $706,007.64. Following the transaction, the chief executive officer now directly owns 1,550,358 shares in the company, valued at approximately $17,410,520.34. The trade was a 3.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,705 shares of company stock worth $816,495 over the last quarter. 7.70% of the stock is currently owned by corporate insiders.

About NextNav

NextNav Inc provides next generation positioning, navigation, and timing (PNT) solutions in the United States. It offers Pinnacle, a dedicated vertical positioning network to cover entire metropolitan areas including devices equipped with a barometric pressure sensor with the highest quality wide-area altitude service.