Viasat Inc. (NASDAQ:VSAT – Get Free Report) has been given an average rating of “Moderate Buy” by the nine brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $77.1250.
VSAT has been the subject of a number of analyst reports. Needham & Company LLC increased their price objective on shares of Viasat from $58.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday. Raymond James Financial set a $74.00 price objective on shares of Viasat and gave the stock an “outperform” rating in a research note on Friday, April 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a research note on Monday, April 20th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $97.00 price objective on shares of Viasat in a research note on Monday. Finally, New Street Research initiated coverage on shares of Viasat in a research note on Wednesday, May 13th. They issued a “buy” rating and a $100.00 price objective for the company.
Read Our Latest Research Report on VSAT
Viasat Stock Down 4.1%
Insider Transactions at Viasat
In other news, SVP Benjamin Edward Palmer sold 2,400 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $46.21, for a total value of $110,904.00. Following the completion of the sale, the senior vice president directly owned 25,431 shares of the company’s stock, valued at $1,175,166.51. This represents a 8.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Robert James Blair sold 30,411 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $47.04, for a total transaction of $1,430,533.44. Following the completion of the sale, the senior vice president directly owned 38,108 shares of the company’s stock, 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. Insiders sold a total of 38,071 shares of company stock valued at $1,804,437 over the last three months. 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. Royal Bank of Canada grew its stake in Viasat by 483.2% during the first quarter. Royal Bank of Canada now owns 109,448 shares of the communications equipment provider’s stock valued at $1,140,000 after acquiring an additional 90,680 shares in the last quarter. AQR Capital Management LLC grew its stake in Viasat by 189.7% during the first quarter. AQR Capital Management LLC now owns 452,933 shares of the communications equipment provider’s stock valued at $4,692,000 after acquiring an additional 296,612 shares in the last quarter. Millennium Management LLC grew its stake in Viasat by 673.7% during the first quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider’s stock valued at $14,443,000 after acquiring an additional 1,206,935 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Viasat by 64.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider’s stock valued at $29,866,000 after acquiring an additional 1,128,338 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in Viasat by 6.9% during the first quarter. Empowered Funds LLC now owns 226,184 shares of the communications equipment provider’s stock valued at $2,357,000 after acquiring an additional 14,575 shares in the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.
About Viasat
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.
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