Viasat (NASDAQ:VSAT) Director John Stenbit Sells 705 Shares

Viasat Inc. (NASDAQ:VSAT) Director John Stenbit sold 705 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $66.75, for a total value of $47,058.75. Following the completion of the sale, the director owned 545 shares of the company’s stock, valued at approximately $36,378.75. This represents a 56.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Viasat Trading Up 2.6%

NASDAQ:VSAT opened at $71.72 on Friday. The business’s 50-day moving average is $75.82 and its two-hundred day moving average is $65.03. The firm has a market capitalization of $9.88 billion, a PE ratio of -298.83 and a beta of 1.70. Viasat Inc. has a 12 month low of $26.10 and a 12 month high of $93.03. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.68 and a quick ratio of 1.52.

Institutional Trading of Viasat

Institutional investors and hedge funds have recently modified their holdings of the business. Valued Wealth Advisors LLC acquired a new position in shares of Viasat in the 1st quarter valued at about $25,000. Aberdeen Wealth Management LLC bought a new stake in shares of Viasat during the 2nd quarter valued at about $30,000. Elevation Wealth Partners LLC raised its stake in Viasat by 935.3% during the second quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider’s stock worth $32,000 after acquiring an additional 318 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new position in Viasat in the fourth quarter worth about $36,000. Finally, Los Angeles Capital Management LLC bought a new position in Viasat in the fourth quarter worth about $38,000. 86.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $97.00 price target on shares of Viasat in a report on Monday, June 1st. Wall Street Zen lowered shares of Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Zacks Research upgraded shares of Viasat from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Oppenheimer began coverage on shares of Viasat in a research note on Monday, June 29th. They issued an “outperform” rating and a $140.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Viasat currently has an average rating of “Moderate Buy” and an average price target of $90.67.

Viasat Company Profile

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.