Viasat (NASDAQ:VSAT) CFO Garrett Chase Sells 4,000 Shares

Viasat Inc. (NASDAQ:VSAT) CFO Garrett Chase sold 4,000 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $74.90, for a total value of $299,600.00. Following the completion of the sale, the chief financial officer owned 26,239 shares in the company, valued at approximately $1,965,301.10. The trade was a 13.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Viasat Stock Down 3.3%

Shares of VSAT opened at $72.28 on Tuesday. The firm has a fifty day moving average price of $74.75 and a 200-day moving average price of $63.57. The company has a current ratio of 1.68, a quick ratio of 1.52 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $9.96 billion, a P/E ratio of -301.17 and a beta of 1.72. Viasat Inc. has a 12-month low of $26.10 and a 12-month high of $93.03.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.34). Viasat had a positive return on equity of 1.44% and a negative net margin of 0.64%.The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the business earned ($0.02) EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts expect that Viasat Inc. will post -0.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Valued Wealth Advisors LLC purchased a new position in Viasat in the first quarter valued at about $25,000. Aberdeen Wealth Management LLC bought a new stake in shares of Viasat in the 2nd quarter valued at about $30,000. Elevation Wealth Partners LLC boosted its holdings in shares of Viasat by 935.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider’s stock valued at $32,000 after buying an additional 318 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Viasat in the 4th quarter worth approximately $36,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Viasat during the 4th quarter worth approximately $38,000. 86.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on VSAT shares. Zacks Research upgraded Viasat from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Oppenheimer started coverage on Viasat in a research report on Monday, June 29th. They set an “outperform” rating and a $140.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a report on Friday, July 17th. Barclays set a $49.00 price target on Viasat in a research report on Friday, May 29th. Finally, New Street Research began coverage on Viasat in a report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.67.

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.