Viasat (NASDAQ:VSAT) CFO Sells $290,000.00 in Stock

Viasat Inc. (NASDAQ:VSAT) CFO Garrett Chase sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $72.50, for a total transaction of $290,000.00. Following the transaction, the chief financial officer directly owned 38,239 shares in the company, valued at approximately $2,772,327.50. This represents a 9.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Viasat Price Performance

NASDAQ:VSAT opened at $67.18 on Monday. Viasat Inc. has a 52 week low of $9.01 and a 52 week high of $89.79. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of -231.66 and a beta of 1.70. The firm’s 50-day simple moving average is $64.38 and its 200 day simple moving average is $49.40. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.19 and a current ratio of 2.41.

Institutional Investors Weigh In On Viasat

Hedge funds have recently made changes to their positions in the stock. Brightline Capital Management LLC boosted its stake in shares of Viasat by 1.8% in the 3rd quarter. Brightline Capital Management LLC now owns 2,036,000 shares of the communications equipment provider’s stock valued at $59,655,000 after purchasing an additional 36,000 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Viasat in the 4th quarter valued at approximately $830,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Viasat in the 3rd quarter valued at approximately $4,230,000. Hudson Bay Capital Management LP acquired a new stake in shares of Viasat in the 3rd quarter valued at approximately $7,325,000. Finally, Legacy Capital Group California Inc. acquired a new stake in shares of Viasat in the 3rd quarter valued at approximately $1,241,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Needham & Company LLC increased their price objective on shares of Viasat from $58.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $97.00 target price on shares of Viasat in a report on Monday, June 1st. Barclays set a $49.00 target price on shares of Viasat in a report on Friday, May 29th. B. Riley Financial raised their target price on shares of Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a report on Friday, May 29th. Finally, New Street Research began coverage on shares of Viasat in a report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Viasat presently has a consensus rating of “Moderate Buy” and an average price target of $77.13.

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.