Viasat (NASDAQ:VSAT) Trading Down 7.4% – Should You Sell?

Viasat Inc. (NASDAQ:VSAT)’s stock price traded down 7.4% during trading on Friday . The stock traded as low as $48.38 and last traded at $48.2590. 714,975 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 1,705,169 shares. The stock had previously closed at $52.12.

Analysts Set New Price Targets

A number of research firms have weighed in on VSAT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a research note on Wednesday, January 21st. William Blair reiterated an “outperform” rating on shares of Viasat in a research note on Tuesday, January 13th. Morgan Stanley set a $51.00 price objective on Viasat in a research report on Friday, January 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of Viasat in a report on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded Viasat from a “hold” rating to a “buy” rating and increased their target price for the company from $36.00 to $48.00 in a research report on Friday, February 6th. Six analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $45.86.

Viasat Stock Performance

The company’s 50-day simple moving average is $45.30 and its 200-day simple moving average is $38.13. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of -17.97 and a beta of 1.44. The company has a current ratio of 2.13, a quick ratio of 1.90 and a debt-to-equity ratio of 1.35.

Insiders Place Their Bets

In related news, CAO Camellia E. Fitzgerald sold 2,810 shares of the firm’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $48.00, for a total transaction of $134,880.00. Following the completion of the transaction, the chief accounting officer directly owned 9,946 shares of the company’s stock, valued at $477,408. This trade represents a 22.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Craig Andrew Miller sold 5,260 shares of Viasat stock in a transaction dated Tuesday, March 17th. The stock was 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 in the company, valued at $1,062,600. The trade was a 19.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 140,881 shares of company stock valued at $5,973,317 over the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Viasat

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VSAT. Rockefeller Capital Management L.P. increased its holdings in Viasat by 278.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 6,427 shares of the communications equipment provider’s stock worth $221,000 after purchasing an additional 4,727 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in shares of Viasat during the 4th quarter worth approximately $277,000. Virtue Capital Management LLC acquired a new stake in shares of Viasat during the 4th quarter worth approximately $211,000. Vident Advisory LLC increased its stake in shares of Viasat by 23.2% in the 4th quarter. Vident Advisory LLC now owns 16,716 shares of the communications equipment provider’s stock valued at $576,000 after acquiring an additional 3,144 shares in the last quarter. Finally, State of Tennessee Department of Treasury lifted its position in shares of Viasat by 0.8% during the 4th 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 acquiring an additional 350 shares during the period. 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.