NextNav Inc. (NASDAQ:NN (NASDAQ:NNBR)), a leader in search, detection, navigation, and guidance systems, has reported transactions by its General Counsel, Robert Lantz, according to a recent filing with the Securities and Exchange Commission. The transactions included both the acquisition of shares as bonuses and the sale of shares primarily to satisfy tax obligations.
Robert Lantz, serving as General Counsel for NextNav, acquired a total of 54,866 shares of common stock at no cost. These shares were granted as restricted stock units (RSUs), with 20,626 of them vesting immediately on March 15, 2024. The remaining 34,240 RSUs are set to vest over time, contingent on Lantz's continued service with the company.
On the selling side, Lantz disposed of 10,808 shares of NextNav common stock on March 18 and March 19, with the total transaction value exceeding $46,774. The shares were sold at prices ranging from $4.23 to $4.75 per share. These sales were conducted to cover tax obligations arising from the vesting of RSUs.
Following these transactions, Lantz holds a total of 88,401 shares of NextNav Inc. common stock, reflecting his continued investment in the company's future.
Investors often monitor insider buying and selling as it can provide insights into a company's internal perspective. Transactions by executives can be influenced by personal financial decisions but can also reflect their confidence in the company's prospects.
NextNav's stock performance and the actions of its executives are closely watched by the market, and this latest filing will likely be of interest to current and potential investors.
InvestingPro Insights
NextNav Inc. (NASDAQ:NN) has recently been in the spotlight due to insider transactions by its General Counsel, Robert Lantz. For investors looking to understand the broader context of NextNav's financial health and market performance, InvestingPro provides valuable insights.
One of the InvestingPro Tips highlights that analysts do not anticipate the company will be profitable this year, which might be a concern for investors considering the company's future earnings potential. Additionally, the stock is known to trade with high price volatility, suggesting that investors should be prepared for potentially significant price swings in the short term.
From the real-time data provided by InvestingPro, NextNav's market capitalization stands at $532.58 million, indicating the company's size in the market. The company is trading at a high Price / Book multiple of 6.76 as of the last twelve months ending Q4 2023, which may imply that the stock is valued richly compared to its book value. Moreover, NextNav's revenue growth for the last quarter of 2023 was an impressive 50.06%, signaling a potential turnaround or growth phase despite a negative growth rate of -1.63% over the last twelve months.
Investors interested in a deeper dive into NextNav's financials and market outlook can explore additional InvestingPro Tips by visiting https://www.investing.com/pro/NN. There, you will find a comprehensive list of metrics and insights, including an additional 10 tips. And for those ready to take their investment analysis to the next level, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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