Viasat (NASDAQ:VSAT) Shares Up 8.5% – Should You Buy?

Viasat Inc. (NASDAQ:VSAT)’s share price shot up 8.5% on Thursday . The stock traded as high as $66.43 and last traded at $66.7380. 740,209 shares changed hands during trading, a decline of 61% from the average session volume of 1,895,895 shares. The stock had previously closed at $61.50.

Analyst Ratings Changes

A number of analysts have recently commented on VSAT shares. Raymond James Financial set a $74.00 target price on Viasat and gave the stock an “outperform” rating in a research note on Friday, April 24th. Needham & Company LLC upped their target price on Viasat from $58.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. New Street Research started coverage on Viasat in a research note on Wednesday, May 13th. They issued a “buy” rating and a $100.00 target price on the stock. Barclays set a $49.00 target price on Viasat in a research note on Friday, May 29th. Finally, B. Riley Financial upped their target price on Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $77.13.

Viasat Stock Up 13.5%

The company has a market cap of $9.53 billion, a price-to-earnings ratio of -238.98 and a beta of 1.71. The company has a current ratio of 2.41, a quick ratio of 2.19 and a debt-to-equity ratio of 1.35. The business has a fifty day moving average of $65.43 and a two-hundred day moving average of $50.03.

Insider Buying and Selling

In related news, CEO Mark D. Dankberg sold 400,000 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $64.76, for a total value of $25,904,000.00. Following the completion of the transaction, the chief executive officer owned 1,082,196 shares of the company’s stock, valued at approximately $70,083,012.96. This represents a 26.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Craig Andrew Miller sold 5,260 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $50.00, for a total value of $263,000.00. Following the transaction, the senior vice president directly owned 21,252 shares of the company’s stock, valued at $1,062,600. The trade was a 19.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 469,946 shares of company stock worth $30,052,612 in the last ninety days. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Viasat

A number of hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers raised its holdings in shares of Viasat by 2.6% during the first quarter. Cetera Investment Advisers now owns 8,605 shares of the communications equipment provider’s stock valued at $394,000 after acquiring an additional 217 shares during the last quarter. Vise Technologies Inc. increased its holdings in shares of Viasat by 4.8% in the fourth quarter. Vise Technologies Inc. now owns 7,446 shares of the communications equipment provider’s stock valued at $257,000 after purchasing an additional 342 shares during the last quarter. CWM LLC increased its holdings in shares of Viasat by 1.8% in the fourth quarter. CWM LLC now owns 19,360 shares of the communications equipment provider’s stock valued at $667,000 after purchasing an additional 349 shares during the last quarter. State of Tennessee Department of Treasury increased its holdings in shares of Viasat by 0.8% in the fourth quarter. State of Tennessee Department of Treasury now owns 46,952 shares of the communications equipment provider’s stock valued at $1,618,000 after purchasing an additional 350 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Viasat by 1.9% in the third quarter. Victory Capital Management Inc. now owns 19,145 shares of the communications equipment provider’s stock valued at $561,000 after purchasing an additional 361 shares during the last quarter. Institutional investors and hedge funds own 86.05% 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.