NextNav Inc. (NASDAQ:NN (NASDAQ:NNBR)), a leader in search, detection, navigation, and guidance systems, has reported a significant transaction by a top executive in a recent filing. Christian D. Gates, the company's Chief Financial Officer, sold shares worth over $123,000. The transaction took place on March 18, 2024, and involved the sale of 29,208 shares at a price of $4.23 each.
The sale came shortly after Gates received a considerable number of shares through two separate bonus grants. On March 15, 2024, Gates was awarded 24,091 shares as a bonus grant, which vested immediately. Another grant of 88,235 shares, intended to vest over time, was also reported on the same day. The latter grant is subject to Gates's continued service to the company, with a quarter of the shares set to vest on the one-year anniversary of March 15, 2025, and 1/16th of the shares to vest every three months thereafter.
In addition to the non-derivative securities transactions, Gates was also granted derivative securities in the form of stock options. A total of 138,761 stock options were granted on March 15, 2024, with a conversion or exercise price of $4.68. These options are set to vest under similar terms as the restricted stock units, with a quarter vesting on the one-year anniversary and the remainder vesting quarterly over time.
The recent transactions underscore significant activity by NextNav's CFO in the company's stock, reflecting changes in his investment in the company. Following the sale, Gates's ownership in NextNav stands at 849,816 shares of common stock, as per the latest SEC filing.
Investors and market watchers often look to insider buying and selling as a signal of a company's health and the confidence that executives have in the business's future prospects. The transactions reported by NextNav will likely be of interest to those following the company's financial movements and executive decisions.
NextNav Inc. has its headquarters in McLean, Virginia, and operates under the industrial classification of search, detection, navigation, guidance, and aeronautical systems. The company's stock is publicly traded on the NASDAQ stock exchange under the ticker symbol NN .
InvestingPro Insights
In light of the recent transactions by NextNav Inc.'s CFO, Christian D. Gates, investors may find the following InvestingPro data and tips helpful in assessing the company's financial health and stock performance.
InvestingPro Data indicates that NextNav Inc. has a market capitalization of $532.58 million, with a notably high Price / Book ratio of 6.76 as of the last twelve months ending Q4 2023. This suggests that the stock is trading at a premium compared to the company's book value. The company's revenue for the same period was $3.86 million, which shows a substantial quarterly revenue growth of 50.06% in Q4 2023. Despite this growth, the company has a negative gross profit margin of -229.96%, indicating that it incurs more costs than revenue in producing its goods or services.
InvestingPro Tips for NextNav Inc. reveal that analysts are not expecting the company to be profitable this year, which aligns with the negative earnings metrics from the previous year. However, the stock has experienced a strong return over the last year, with a 127.4% price total return, highlighting the potential for significant gains for investors willing to take on the associated risks.
For those interested in further insights and metrics, there are additional InvestingPro Tips available for NextNav Inc. at https://www.investing.com/pro/NN. These tips could provide more in-depth analysis and guidance for potential investors. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, ensuring you have the latest data and insights to inform your investment decisions.
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