Viasat (NASDAQ:VSAT) Director Richard Baldridge Sells 27,122 Shares

Viasat Inc. (NASDAQ:VSAT) Director Richard Baldridge sold 27,122 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total value of $1,945,732.28. Following the completion of the transaction, the director directly owned 213,355 shares of the company’s stock, valued at $15,306,087.70. The trade was a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Viasat Price Performance

NASDAQ VSAT traded down $5.75 during mid-day trading on Friday, hitting $67.18. The stock had a trading volume of 2,554,460 shares, compared to its average volume of 1,865,434. Viasat Inc. has a 52-week low of $9.01 and a 52-week high of $89.79. The company has a market cap of $9.17 billion, a price-to-earnings ratio of -231.66 and a beta of 1.71. The company has a 50 day simple moving average of $64.03 and a 200 day simple moving average of $49.16. The company has a quick ratio of 2.19, a current ratio of 2.41 and a debt-to-equity ratio of 1.35.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Raymond James Financial set a $74.00 price objective on Viasat and gave the company an “outperform” rating in a research note on Friday, April 24th. Barclays set a $49.00 price target on Viasat in a research report on Friday, May 29th. Needham & Company LLC raised their price target on Viasat from $58.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday. B. Riley Financial raised their price target on Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $97.00 price target on shares of Viasat in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.13.

Institutional Investors Weigh In On Viasat

Hedge funds and other institutional investors have recently made changes to their positions in the business. Valued Wealth Advisors LLC purchased a new stake in shares of Viasat in the first quarter valued at $25,000. Hantz Financial Services Inc. grew its position in shares of Viasat by 6,815.4% in the third quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 886 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Viasat in the fourth quarter valued at $36,000. Los Angeles Capital Management LLC purchased a new stake in shares of Viasat in the fourth quarter valued at $38,000. Finally, EFG International AG purchased a new stake in shares of Viasat in the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.

About Viasat

Viasat, Inc (NASDAQ: VSAT) provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat’s product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.