Viasat (NASDAQ:VSAT) SVP Sells 2,000 Shares of Stock

Viasat Inc. (NASDAQ:VSAT) SVP Benjamin Palmer sold 2,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $69.87, for a total transaction of $139,740.00. Following the completion of the sale, the senior vice president owned 28,087 shares in the company, valued at $1,962,438.69. The trade was a 6.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Benjamin Edward Palmer also recently made the following trade(s):

• On Tuesday, September 1st, Benjamin Palmer sold 2,000 shares of Viasat stock. The shares were sold at an average price of $66.75, for a total value of $133,500.00.
• On Monday, August 3rd, Benjamin Palmer sold 2,400 shares of Viasat stock. The stock was sold at an average price of $75.46, for a total value of $181,104.00.

Viasat Stock Performance

Viasat stock traded down $2.21 during mid-day trading on Monday, reaching $69.79. The company’s stock had a trading volume of 2,251,209 shares, compared to its average volume of 2,040,205. Viasat Inc. has a twelve month low of $29.13 and a twelve month high of $93.03. The company has a current ratio of 1.68, a quick ratio of 1.52 and a debt-to-equity ratio of 1.23. The firm has a market cap of $9.61 billion, a price-to-earnings ratio of -290.79 and a beta of 1.76. The business has a 50 day moving average price of $75.17 and a 200-day moving average price of $68.99.

Hedge Funds Weigh In On Viasat

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Viasat in the second quarter valued at approximately $1,863,374,000. Dimensional Fund Advisors LP increased its position in Viasat by 18.2% during the first quarter. Dimensional Fund Advisors LP now owns 4,789,539 shares of the communications equipment provider’s stock worth $219,346,000 after buying an additional 738,656 shares in the last quarter. Van ECK Associates Corp raised its stake in Viasat by 53.1% during the second quarter. Van ECK Associates Corp now owns 2,243,040 shares of the communications equipment provider’s stock worth $201,447,000 after purchasing an additional 777,761 shares during the period. Bank of America Corp DE acquired a new stake in shares of Viasat in the second quarter valued at about $127,283,000. Finally, Tidal Investments LLC grew its position in shares of Viasat by 8,261.7% in the 2nd quarter. Tidal Investments LLC now owns 976,646 shares of the communications equipment provider’s stock worth $87,713,000 after acquiring an additional 964,966 shares in the last quarter. Institutional investors and hedge funds own 86.05% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Morgan Stanley set a $95.00 price target on shares of Viasat in a report on Monday, August 10th. Oppenheimer started coverage on Viasat in a research report on Monday, June 29th. They issued an “outperform” rating and a $140.00 price objective for the company. Wall Street Zen lowered shares of Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research report on Friday, July 17th. Finally, Zacks Research upgraded shares of Viasat from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Viasat presently has a consensus rating of “Moderate Buy” and an average target price of $90.67.

Viasat Company Profile

Viasat, Inc is a communications company that provides satellite connectivity and related services to commercial, government and consumer customers. Its offerings include broadband internet, in-flight connectivity, maritime communications, enterprise networking and secure communications for government and defense applications.

The company operates a fleet of communications satellites and develops supporting ground infrastructure, network services and connectivity equipment. Viasat serves customers across North America, Europe, the Middle East, Africa, Asia-Pacific and other international markets, including airlines, shipping companies, businesses, government agencies and households in areas where terrestrial broadband is limited.

Viasat was founded in 1986 and is headquartered in Carlsbad, California.