Viasat (NASDAQ:VSAT) Stock: Insider Benjamin Edward Palmer Sells 2,000 Shares

Viasat Inc. (NASDAQ:VSAT) SVP Benjamin Palmer sold 2,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $69.87, for a total value of $139,740.00. Following the completion of the sale, the senior vice president directly owned 28,087 shares in the company, valued at $1,962,438.69. The trade was a 6.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Benjamin Edward Palmer also recently made the following trade(s):

• On Tuesday, September 1st, Benjamin Palmer sold 2,000 shares of Viasat stock. The stock was sold at an average price of $66.75, for a total transaction of $133,500.00.
• On Monday, August 3rd, Benjamin Palmer sold 2,400 shares of Viasat stock. The shares were sold at an average price of $75.46, for a total value of $181,104.00.

Viasat Stock Down 3.1%

Shares of VSAT traded down $2.21 during trading hours on Monday, hitting $69.79. The company had a trading volume of 2,251,209 shares, compared to its average volume of 2,040,205. Viasat Inc. has a one year low of $29.13 and a one year high of $93.03. The company’s fifty day moving average price is $75.17 and its two-hundred day moving average price is $68.99. 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 company has a market capitalization of $9.61 billion, a PE ratio of -290.79 and a beta of 1.76.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Viasat in the 2nd quarter worth approximately $1,863,374,000. Bank of America Corp DE purchased a new position in Viasat during the 2nd quarter valued at approximately $127,283,000. Tema ETFs LLC raised its stake in shares of Viasat by 229,857.1% in the second quarter. Tema ETFs LLC now owns 965,820 shares of the communications equipment provider’s stock valued at $86,740,000 after acquiring an additional 965,400 shares during the period. Tidal Investments LLC lifted its holdings in shares of Viasat by 8,261.7% in the 2nd quarter. Tidal Investments LLC now owns 976,646 shares of the communications equipment provider’s stock worth $87,713,000 after buying an additional 964,966 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Viasat during the 2nd quarter worth approximately $80,124,000. Institutional investors own 86.05% of the company’s stock.

Wall Street Analyst Weigh In

VSAT has been the topic of a number of analyst reports. Wall Street Zen cut Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Morgan Stanley set a $95.00 price objective on Viasat in a research report on Monday, August 10th. Zacks Research upgraded Viasat from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a research report on Friday, July 17th. Finally, Oppenheimer began coverage on shares of Viasat in a report on Monday, June 29th. They issued an “outperform” rating and a $140.00 price target for the company. 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. According to data from MarketBeat.com, Viasat currently has a consensus rating of “Moderate Buy” and an average 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.