Viasat (NASDAQ:VSAT) Director Sells $46,881.12 in Stock

Viasat Inc. (NASDAQ:VSAT) Director John Stenbit sold 528 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $88.79, for a total value of $46,881.12. Following the sale, the director directly owned 722 shares of the company’s stock, valued at $64,106.38. This represents a 42.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Viasat Stock Up 0.9%

Viasat stock traded up $0.74 during trading on Monday, hitting $83.80. 2,325,090 shares of the company were exchanged, compared to its average volume of 2,115,540. Viasat Inc. has a 52 week low of $14.00 and a 52 week high of $93.03. The company has a current ratio of 2.41, a quick ratio of 2.19 and a debt-to-equity ratio of 1.35. The business’s 50 day moving average is $70.08 and its 200 day moving average is $54.27. The company has a market capitalization of $11.44 billion, a P/E ratio of -288.97 and a beta of 1.70.

Viasat (NASDAQ:VSAT) last posted its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.34). Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the business earned ($0.02) EPS. Viasat’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts predict that Viasat Inc. will post -0.39 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on VSAT shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $97.00 price objective on shares of Viasat in a research report on Monday, June 1st. B. Riley Financial increased their price target on shares of Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a research report on Friday, May 29th. New Street Research initiated coverage on shares of Viasat in a report on Wednesday, May 13th. They set a “buy” rating and a $100.00 price objective for the company. Needham & Company LLC lifted their price objective on shares of Viasat from $58.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Finally, Raymond James Financial set a $74.00 target price on shares of Viasat and gave the company an “outperform” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Viasat has a consensus rating of “Moderate Buy” and a consensus price target of $84.11.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VSAT. Disciplined Growth Investors Inc. MN raised its holdings in Viasat by 15.8% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,845,100 shares of the communications equipment provider’s stock valued at $85,338,000 after acquiring an additional 796,349 shares during the period. Dimensional Fund Advisors LP increased its holdings in Viasat by 18.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,789,539 shares of the communications equipment provider’s stock worth $219,346,000 after acquiring an additional 738,656 shares during the period. Geode Capital Management LLC lifted its stake in Viasat by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 3,328,854 shares of the communications equipment provider’s stock worth $115,266,000 after purchasing an additional 273,369 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Viasat by 2,821.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,222,981 shares of the communications equipment provider’s stock valued at $111,065,000 after purchasing an additional 3,112,670 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Viasat by 64.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider’s stock valued at $29,866,000 after purchasing an additional 1,128,338 shares in the last quarter. 86.05% of the stock is currently owned by hedge funds and other institutional investors.

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.