Insider Selling: Viasat (NASDAQ:VSAT) SVP Sells 11,893 Shares of Stock

Viasat Inc. (NASDAQ:VSAT) SVP Craig Miller sold 11,893 shares of the business’s stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $71.61, for a total value of $851,657.73. Following the sale, the senior vice president owned 41,570 shares in the company, valued at approximately $2,976,827.70. This represents a 22.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Viasat Stock Performance

Shares of NASDAQ VSAT traded down $0.76 during trading hours on Tuesday, reaching $66.90. The stock had a trading volume of 1,494,317 shares, compared to its average volume of 2,041,932. The company has a market cap of $9.22 billion, a price-to-earnings ratio of -278.75 and a beta of 1.76. Viasat Inc. has a twelve month low of $29.13 and a twelve month high of $93.03. The business’s fifty day moving average is $74.51 and its two-hundred day moving average is $69.89. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.68 and a quick ratio of 1.52.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings results on Tuesday, August 4th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.07. Viasat had a negative net margin of 0.64% and a positive return on equity of 1.44%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm posted $0.17 EPS. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, research analysts expect that Viasat Inc. will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aberdeen Wealth Management LLC acquired a new stake in Viasat in the 2nd quarter valued at about $30,000. Elevation Wealth Partners LLC grew its stake in shares of Viasat by 935.3% during the second quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider’s stock valued at $32,000 after purchasing an additional 318 shares during the last quarter. Bullseye Investment Management LLC bought a new stake in shares of Viasat during the second quarter valued at approximately $37,000. Rakuten Securities Inc. acquired a new stake in shares of Viasat in the second quarter valued at approximately $43,000. Finally, Trust Co. of Vermont acquired a new stake in shares of Viasat in the second quarter valued at approximately $46,000. Institutional investors and hedge funds own 86.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VSAT. Oppenheimer started coverage on Viasat in a research note on Monday, June 29th. They issued an “outperform” rating and a $140.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research report on Friday, July 17th. Zacks Research raised Viasat from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Wall Street Zen cut Viasat from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Needham & Company LLC increased their price objective on Viasat from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Viasat currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.67.

Viasat Company Profile

Viasat, Inc is a communications company that provides satellite connectivity and related services to commercial, government and consumer customers. Its offerings include broadband internet, in-flight connectivity, maritime communications, enterprise networking and secure communications for government and defense applications.

The company operates a fleet of communications satellites and develops supporting ground infrastructure, network services and connectivity equipment. Viasat serves customers across North America, Europe, the Middle East, Africa, Asia-Pacific and other international markets, including airlines, shipping companies, businesses, government agencies and households in areas where terrestrial broadband is limited.

Viasat was founded in 1986 and is headquartered in Carlsbad, California.