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Ronald L. Rubin, a director at AST SpaceMobile, Inc. (NASDAQ:ASTS), recently sold a significant portion of his holdings in the company. According to a regulatory filing, Rubin sold 7,000 shares of Class A Common Stock on March 10, 2025, at an average price of $32.46 per share. The total transaction amounted to $227,220. The sale comes as AST SpaceMobile, now valued at $9.2 billion, has seen its stock surge over 855% in the past year. According to InvestingPro analysis, the stock appears overvalued compared to its Fair Value, with analyst price targets ranging from $15 to $64.
This sale was made to cover anticipated additional tax liabilities related to the vesting of restricted stock units (RSUs) granted in 2023. Following this transaction, Rubin holds 65,628 shares of AST SpaceMobile stock directly. With the stock’s notably volatile price movements, InvestingPro subscribers can access comprehensive insider trading analysis and 10+ additional exclusive insights about ASTS’s financial health and market position.
In other recent news, AST Spacemobile reported its fourth-quarter 2024 earnings, surpassing analysts’ expectations with an earnings per share (EPS) of -$0.18, better than the projected -$0.21. The company’s revenue also exceeded forecasts, reaching $4.42 million compared to the anticipated $3.22 million. UBS analyst Chris Schoell raised the price target for AST Spacemobile shares to $38.00 from $31.00, maintaining a Buy rating due to the company’s successful satellite tests and expanded carrier agreements. AST Spacemobile has secured launch capacity for 60 satellites for 2025 and 2026 and plans to increase satellite production to six per month by the second half of 2025. The company has expanded its agreements with approximately 50 carriers, now covering nearly 3 billion subscribers, and has formed a joint venture with Vodafone (NASDAQ:VOD) in Europe. UBS anticipates that AST Spacemobile will achieve continuous coverage in its target areas by 2026, with revenue projections of $465 million and $173 million in EBITDA for that year. The company is also exploring $500 million in quasi-government funding to support its expansion efforts. These developments reflect a positive outlook for AST Spacemobile as it continues to advance its satellite technology and strategic partnerships.
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