Viasat (NASDAQ:VSAT) Hits New 52-Week High – Here’s Why

Viasat Inc. (NASDAQ:VSAT)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $50.24 and last traded at $47.3140, with a volume of 279594 shares traded. The stock had previously closed at $47.92.

Analyst Upgrades and Downgrades

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

Viasat Stock Performance

The company has a 50 day moving average of $42.12 and a two-hundred day moving average of $36.17. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.90. The company has a market capitalization of $6.26 billion, a PE ratio of -17.79 and a beta of 1.47.

Insider Activity at Viasat

In other Viasat news, CEO Mark D. Dankberg sold 200,000 shares of the company’s stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Camellia E. Fitzgerald sold 2,810 shares of Viasat stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $48.00, for a total transaction of $134,880.00. Following the transaction, the chief accounting officer owned 9,946 shares of the company’s stock, valued at $477,408. The trade was a 22.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 354,290 shares of company stock valued at $13,059,722 in the last three months. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Viasat

Several institutional investors and hedge funds have recently modified their holdings of VSAT. Corient Private Wealth LLC bought a new position in Viasat in the 4th quarter worth about $277,000. Virtue Capital Management LLC purchased a new position in Viasat in the fourth quarter worth about $211,000. Vident Advisory LLC lifted its stake in shares of Viasat by 23.2% in the fourth quarter. Vident Advisory LLC now owns 16,716 shares of the communications equipment provider’s stock worth $576,000 after buying an additional 3,144 shares in the last quarter. State of Tennessee Department of Treasury grew its holdings in shares of Viasat by 0.8% during the fourth 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 buying an additional 350 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in shares of Viasat during the fourth quarter valued at approximately $279,000. 86.05% of the stock is currently owned by 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.