Viasat (NASDAQ:VSAT) Director Sells $46,846.22 in Stock

Viasat Inc. (NASDAQ:VSAT) Director John Stenbit sold 653 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total value of $46,846.22. Following the sale, the director directly owned 29,597 shares of the company’s stock, valued at $2,123,288.78. The trade was a 2.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Viasat Stock Performance

Shares of VSAT opened at $67.18 on Monday. The stock has a 50 day moving average of $64.38 and a 200 day moving average of $49.40. Viasat Inc. has a 12 month low of $9.01 and a 12 month high of $89.79. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of -231.66 and a beta of 1.70. The company has a current ratio of 2.41, a quick ratio of 2.19 and a debt-to-equity ratio of 1.35.

Hedge Funds Weigh In On Viasat

A number of large investors have recently made changes to their positions in VSAT. Royal Bank of Canada boosted its holdings in shares of Viasat by 483.2% in the first quarter. Royal Bank of Canada now owns 109,448 shares of the communications equipment provider’s stock worth $1,140,000 after acquiring an additional 90,680 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Viasat by 189.7% in the first quarter. AQR Capital Management LLC now owns 452,933 shares of the communications equipment provider’s stock worth $4,692,000 after acquiring an additional 296,612 shares during the period. Millennium Management LLC boosted its holdings in shares of Viasat by 673.7% in the first quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider’s stock worth $14,443,000 after acquiring an additional 1,206,935 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Viasat by 64.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider’s stock worth $29,866,000 after acquiring an additional 1,128,338 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of Viasat by 6.9% in the first quarter. Empowered Funds LLC now owns 226,184 shares of the communications equipment provider’s stock worth $2,357,000 after acquiring an additional 14,575 shares during the period. 86.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on VSAT shares. B. Riley Financial increased their price objective on Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a report on Friday, May 29th. New Street Research started coverage on Viasat in a report on Wednesday, May 13th. They set a “buy” rating and a $100.00 price objective for the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $97.00 price objective on shares of Viasat in a report on Monday, June 1st. Needham & Company LLC increased their price objective on Viasat from $58.00 to $90.00 and gave the company a “buy” rating in a report on Monday, June 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.