JPMorgan Chase & Co. Reduces Position in Viasat Inc. $VSAT

JPMorgan Chase & Co. trimmed its holdings in Viasat Inc. (NASDAQ:VSAT) by 9.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 452,064 shares of the communications equipment provider’s stock after selling 48,723 shares during the period. JPMorgan Chase & Co.’s holdings in Viasat were worth $13,245,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Quent Capital LLC acquired a new stake in Viasat in the 3rd quarter valued at about $25,000. Hantz Financial Services Inc. increased its holdings in shares of Viasat by 6,815.4% in the third quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 886 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in Viasat during the third quarter worth approximately $28,000. Activest Wealth Management acquired a new position in Viasat during the third quarter worth $44,000. Finally, Delos Wealth Advisors LLC purchased a new stake in Viasat in the 2nd quarter valued at $45,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Viasat

In other Viasat news, CAO Shawn Lynn Duffy sold 51,480 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $36.38, for a total value of $1,872,842.40. Following the completion of the transaction, the chief accounting officer owned 6,021 shares in the company, valued at $219,043.98. The trade was a 89.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark D. Dankberg sold 200,000 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $35.09, for a total value of $7,018,000.00. Following the sale, the chief executive officer directly owned 1,534,993 shares in the company, valued at $53,862,904.37. This represents a 11.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 354,290 shares of company stock valued at $13,059,722 in the last 90 days. Company insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on VSAT shares. JPMorgan Chase & Co. upgraded Viasat from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $23.00 to $50.00 in a report on Tuesday, November 11th. Raymond James Financial raised shares of Viasat from a “market perform” rating to an “outperform” rating and set a $52.00 target price on the stock in a research note on Monday, November 10th. William Blair reiterated an “outperform” rating on shares of Viasat in a report on Tuesday, January 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a report on Wednesday, January 21st. Finally, 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. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Viasat presently has a consensus rating of “Moderate Buy” and an average price target of $45.86.

Viasat Trading Up 4.4%

NASDAQ VSAT opened at $47.84 on Thursday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.90 and a current ratio of 2.13. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of -18.47 and a beta of 1.44. The firm has a 50 day simple moving average of $43.02 and a 200-day simple moving average of $36.79. Viasat Inc. has a one year low of $7.36 and a one year high of $50.24.

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.