Viasat (NASDAQ:VSAT) Sets New 1-Year High – Here’s Why

Shares of Viasat Inc. (NASDAQ:VSATGet Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $74.25 and last traded at $73.07, with a volume of 1942147 shares. The stock had previously closed at $70.01.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Needham & Company LLC increased their price target on Viasat from $45.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, March 27th. New Street Research began coverage on Viasat in a research note on Wednesday. They set a “buy” rating and a $100.00 price target for the company. Deutsche Bank Aktiengesellschaft raised Viasat from a “hold” rating to a “buy” rating and raised their price objective for the stock from $36.00 to $48.00 in a research note on Friday, February 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a research note on Monday, April 20th. Finally, Raymond James Financial set a $74.00 price objective on Viasat and gave the stock an “outperform” rating in a research note on Friday, April 24th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.50.

Read Our Latest Research Report on VSAT

Viasat Trading Down 0.6%

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 fifty day moving average of $55.09 and a 200-day moving average of $44.93. The firm has a market capitalization of $9.59 billion, a PE ratio of -27.25 and a beta of 1.66.

Insider Buying and Selling

In related news, SVP Craig Andrew Miller sold 5,260 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $50.00, for a total transaction of $263,000.00. Following the completion of the sale, the senior vice president directly owned 21,252 shares in the company, valued at approximately $1,062,600. This trade represents a 19.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert James Blair sold 30,411 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $47.04, for a total value of $1,430,533.44. Following the transaction, the senior vice president owned 38,108 shares in the company, valued at approximately $1,792,600.32. This trade represents a 44.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 38,071 shares of company stock worth $1,804,437. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Viasat

Several institutional investors have recently bought and sold shares of VSAT. Quent Capital LLC acquired a new stake in shares of Viasat in the third quarter valued at about $25,000. Valued Wealth Advisors LLC acquired a new stake in shares of Viasat in the first quarter valued at about $25,000. Hantz Financial Services Inc. grew its position 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. Pilgrim Partners Asia Pte Ltd acquired a new stake in Viasat during the fourth quarter worth about $36,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Viasat during the fourth quarter worth about $38,000. 86.05% of the stock is currently owned by institutional investors.

About Viasat

(Get Free Report)

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.

Further Reading

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