Viasat (NASDAQ:VSAT) Director John Stenbit Sells 653 Shares

Viasat Inc. (NASDAQ:VSAT) Director John Stenbit sold 653 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was 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. This represents a 2.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Viasat Stock Down 7.9%

Shares of Viasat stock traded down $5.75 during trading on Friday, reaching $67.18. 2,554,589 shares of the company traded hands, compared to its average volume of 1,865,434. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.41 and a quick ratio of 2.19. Viasat Inc. has a 1-year low of $9.01 and a 1-year high of $89.79. The company has a 50 day moving average price of $64.03 and a 200-day moving average price of $49.16. The firm has a market capitalization of $9.17 billion, a PE ratio of -231.66 and a beta of 1.71.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays set a $49.00 target price on shares of Viasat in a research report on Friday, May 29th. Needham & Company LLC raised their target price on Viasat from $58.00 to $90.00 and gave the company a “buy” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $97.00 target price on shares of Viasat in a research note on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a research note on Monday, April 20th. Finally, Raymond James Financial set a $74.00 price objective on Viasat and gave the company an “outperform” rating in a research note on Friday, April 24th. One research 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. Based on data from MarketBeat.com, Viasat presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.13.

Institutional Investors Weigh In On Viasat

Hedge funds have recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC acquired a new stake in Viasat in the first quarter valued at approximately $25,000. Hantz Financial Services Inc. boosted its position in shares of Viasat by 6,815.4% during the third quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock valued at $26,000 after buying an additional 886 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Viasat during the fourth quarter valued at approximately $36,000. Los Angeles Capital Management LLC bought a new stake in Viasat during the fourth quarter worth $38,000. Finally, International Assets Investment Management LLC purchased a new stake in Viasat in the 1st quarter valued at $51,000. 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.