Viasat (NASDAQ:VSAT) Director Sells $46,881.12 in Stock

Viasat Inc. (NASDAQ:VSAT) Director John Stenbit sold 528 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $88.79, for a total transaction of $46,881.12. Following the completion of the transaction, the director owned 722 shares in the company, valued at $64,106.38. This represents a 42.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Viasat Trading Up 0.9%

Shares of Viasat stock traded up $0.74 on Monday, hitting $83.80. 2,325,090 shares of the company’s stock traded hands, compared to its average volume of 2,115,540. The firm’s 50-day moving average price is $70.08 and its two-hundred day moving average price is $54.27. The stock has a market capitalization of $11.44 billion, a PE ratio of -288.97 and a beta of 1.70. Viasat Inc. has a one year low of $14.00 and a one year high of $93.03. 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 (NASDAQ:VSAT) last posted its quarterly earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.34). The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.20 billion. Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) earnings per share. On average, research analysts expect that Viasat Inc. will post -0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VSAT. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $97.00 price objective on shares of Viasat in a research report on Monday, June 1st. Raymond James Financial set a $74.00 price target on Viasat and gave the stock an “outperform” rating in a research report on Friday, April 24th. New Street Research assumed coverage on Viasat in a report on Wednesday, May 13th. They set a “buy” rating and a $100.00 price target for the company. Zacks Research cut Viasat from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.11.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of VSAT. Versant Capital Management Inc boosted its holdings in Viasat by 4.4% in the second quarter. Versant Capital Management Inc now owns 4,940 shares of the communications equipment provider’s stock worth $444,000 after acquiring an additional 207 shares in the last quarter. Cetera Investment Advisers raised its holdings in Viasat by 2.6% during the first quarter. Cetera Investment Advisers now owns 8,605 shares of the communications equipment provider’s stock worth $394,000 after buying an additional 217 shares during the last quarter. Vise Technologies Inc. lifted its stake in shares of Viasat by 4.8% in the fourth quarter. Vise Technologies Inc. now owns 7,446 shares of the communications equipment provider’s stock valued at $257,000 after buying an additional 342 shares in the last quarter. CWM LLC lifted its stake in shares of Viasat by 1.8% in the fourth quarter. CWM LLC now owns 19,360 shares of the communications equipment provider’s stock valued at $667,000 after buying an additional 349 shares in the last quarter. Finally, 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. 86.05% of the stock is 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.