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MIDLAND, Texas—Shanti B. Gupta, Chief Operating Officer of AST SpaceMobile, Inc. (NASDAQ:ASTS), sold 24,425 shares of the company’s Class A Common Stock on March 17, according to a recent SEC filing. The shares were sold at a price of $28.00 each, totaling approximately $683,900. The sale occurred near the stock’s recent trading levels, with ASTS currently valued at $26.25 per share and showing remarkable momentum with an 843% return over the past year. Following this transaction, Gupta retains ownership of 368,807 shares in the company.
This transaction comes as part of routine insider trading disclosures, providing investors with insights into the executive’s current stake in AST SpaceMobile.
In other recent news, AST SpaceMobile reported its fourth-quarter 2024 earnings, surpassing analysts’ expectations with an earnings per share (EPS) of -$0.18, compared to the forecasted -$0.21. The company’s revenue also exceeded expectations, reaching $4.42 million against the anticipated $3.22 million. UBS analyst Chris Schoell recently increased the price target for AST Spacemobile shares to $38.00, up from $31.00, while maintaining a Buy rating. This upgrade is attributed to AST SpaceMobile’s successful satellite tests, new carrier agreements, and advancements in scaling production and funding. The company has expanded its agreements to approximately 50 carriers, covering nearly 3 billion subscribers, and plans to increase satellite production to six per month by the second half of 2025. AST SpaceMobile has secured launch capacity for 60 satellites between 2025 and 2026, with the first Block 2 satellite set to be shipped by the end of April. Analysts from UBS project AST SpaceMobile to achieve approximately $465 million in revenue and $173 million in EBITDA by 2026, with expectations of growth to $2.0 billion in revenue and $1.4 billion in EBITDA by 2028. These developments reflect a strong investor confidence in AST SpaceMobile’s strategic direction and financial health.
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