16,799 Shares in Viasat Inc. $VSAT Bought by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new position in shares of Viasat Inc. (NASDAQ:VSAT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 16,799 shares of the communications equipment provider’s stock, valued at approximately $583,000.

A number of other institutional investors and hedge funds have also made changes to their positions in VSAT. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Viasat during the fourth quarter worth about $36,000. Los Angeles Capital Management LLC acquired a new position in Viasat in the 4th quarter valued at about $38,000. EFG International AG purchased a new stake in Viasat during the 4th quarter valued at approximately $41,000. Danske Bank A S acquired a new stake in Viasat during the 4th quarter worth approximately $47,000. Finally, Larson Financial Group LLC lifted its position in Viasat by 7,380.0% during the 3rd quarter. Larson Financial Group LLC now owns 2,244 shares of the communications equipment provider’s stock worth $66,000 after acquiring an additional 2,214 shares during the period. 86.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on VSAT. Zacks Research lowered Viasat from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. B. Riley Financial increased their price target on Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a report on Friday, May 29th. New Street Research assumed coverage on shares of Viasat in a research report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 price objective on the stock. Barclays set a $49.00 price objective on shares of Viasat in a research note on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $97.00 price objective on shares of Viasat in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $84.11.

Viasat Trading Up 0.9%

Shares of VSAT stock opened at $70.44 on Thursday. The business’s fifty day moving average price is $71.86 and its 200 day moving average price is $56.47. Viasat Inc. has a 1-year low of $14.00 and a 1-year high of $93.03. The firm has a market capitalization of $9.62 billion, a PE ratio of -242.90 and a beta of 1.70. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.41 and a quick ratio of 2.19.

Viasat (NASDAQ:VSAT) last released its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.20 billion. Viasat had a negative net margin of 0.73% and a positive return on equity of 1.58%. Viasat’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted ($0.02) EPS. As a group, sell-side analysts forecast that Viasat Inc. will post -0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Garrett L. Chase sold 4,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $62.41, for a total value of $249,640.00. Following the completion of the sale, the chief financial officer owned 34,239 shares in the company, valued at $2,136,855.99. This trade represents a 10.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard A. Baldridge sold 27,122 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $71.74, for a total transaction of $1,945,732.28. Following the sale, the director directly owned 213,355 shares in the company, valued at approximately $15,306,087.70. This represents a 11.28% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 438,803 shares of company stock worth $28,655,600. Insiders own 2.20% 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.