Viasat Target of Unusually High Options Trading (NASDAQ:VSAT)

Viasat Inc. (NASDAQ:VSAT) saw unusually large options trading on Friday. Stock traders purchased 66,045 call options on the stock. This represents an increase of approximately 1,566% compared to the average daily volume of 3,965 call options.

Viasat Stock Up 3.8%

Shares of NASDAQ:VSAT traded up $1.78 during trading on Friday, reaching $48.41. The stock had a trading volume of 1,204,040 shares, compared to its average volume of 1,934,230. The firm’s 50-day simple moving average is $39.81 and its 200 day simple moving average is $34.29. The company has a market capitalization of $6.58 billion, a P/E ratio of -18.68 and a beta of 1.47. The company has a current ratio of 2.13, a quick ratio of 1.90 and a debt-to-equity ratio of 1.35. Viasat has a one year low of $7.36 and a one year high of $49.68.

Wall Street Analysts Forecast Growth

VSAT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upgraded shares of Viasat from a “neutral” rating to an “overweight” rating and raised their target price for the company from $23.00 to $50.00 in a research report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft upgraded Viasat from a “hold” rating to a “buy” rating and upped their price objective for the company from $36.00 to $48.00 in a research note on Friday, February 6th. William Blair reaffirmed an “outperform” rating on shares of Viasat in a report on Tuesday, January 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price on shares of Viasat in a research note on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.86.

Insider Buying and Selling

In other news, CEO Mark D. Dankberg sold 200,000 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $35.09, for a total value of $7,018,000.00. Following the completion of the transaction, the chief executive officer owned 1,534,993 shares in the company, valued at approximately $53,862,904.37. This represents a 11.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Shawn Lynn Duffy sold 51,480 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $36.38, for a total value of $1,872,842.40. Following the completion of the transaction, the chief accounting officer directly owned 6,021 shares in the company, valued at $219,043.98. The trade was a 89.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 356,559 shares of company stock worth $13,140,521. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of VSAT. Public Sector Pension Investment Board lifted its position in Viasat by 23.7% during the 4th quarter. Public Sector Pension Investment Board now owns 647,841 shares of the communications equipment provider’s stock worth $22,325,000 after acquiring an additional 124,137 shares during the period. Police & Firemen s Retirement System of New Jersey increased its stake in shares of Viasat by 2.3% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 33,411 shares of the communications equipment provider’s stock worth $1,151,000 after acquiring an additional 743 shares during the period. Van ECK Associates Corp raised its holdings in Viasat by 44.9% during the fourth quarter. Van ECK Associates Corp now owns 1,026,364 shares of the communications equipment provider’s stock worth $35,369,000 after purchasing an additional 317,936 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Viasat in the fourth quarter valued at about $240,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Viasat by 1.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 261,434 shares of the communications equipment provider’s stock valued at $9,009,000 after purchasing an additional 3,069 shares in the last quarter. 86.05% of the stock is currently owned by hedge funds and other institutional investors.

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.