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Julio A. Torres, a director at AST SpaceMobile, Inc. (NASDAQ:ASTS), recently sold a significant portion of his holdings in the company. On March 10, 2025, Torres sold 20,000 shares of Class A Common Stock, generating a total of $614,600. The shares were sold at a weighted average price of $30.73, with individual transaction prices ranging from $30.62 to $30.94 per share. The sale comes as ASTS shares have shown remarkable performance, delivering an 855% return over the past year. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $15 to $64.
This transaction was executed to cover anticipated additional tax liabilities related to the vesting of restricted stock units (RSUs) granted in 2023. Following the sale, Torres retains ownership of 52,628 shares in AST SpaceMobile, currently valued at approximately $1.5 million based on the market price of $29.14. InvestingPro analysis indicates the stock is trading near its Fair Value, with 8 additional exclusive insights available to subscribers.
In other recent news, AST SpaceMobile reported its fourth-quarter 2024 earnings, exceeding analysts’ expectations with a narrower-than-expected loss. The company’s earnings per share came in at -$0.18, beating the forecast of -$0.21, while revenue reached $4.42 million, surpassing the anticipated $3.22 million. UBS analyst Chris Schoell lifted the price target for AST SpaceMobile shares to $38.00, up from $31.00, maintaining a Buy rating. Schoell’s optimism is driven by the company’s recent progress, including successful satellite tests and expanded carrier agreements. AST SpaceMobile has secured launch capacity for 60 satellites for 2025-2026 and plans to increase satellite production to six per month by the second half of 2025. The company has formed a joint venture with Vodafone (NASDAQ:VOD), potentially expanding its reach to an additional 500 million subscribers in Europe. AST SpaceMobile is also exploring $500 million in quasi-government funding and non-dilutive financing options to support its expansion.
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