Garrett Chase Sells 4,000 Shares of Viasat (NASDAQ:VSAT) Stock

Viasat Inc. (NASDAQ:VSAT – Get Free Report) CFO Garrett Chase sold 4,000 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $62.41, for a total transaction of $249,640.00. Following the sale, the chief financial officer owned 34,239 shares of the company’s stock, valued at $2,136,855.99. This trade represents a 10.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Viasat Stock Down 2.6%

Shares of Viasat stock traded down $1.65 during trading hours on Wednesday, reaching $62.23. The company’s stock had a trading volume of 1,966,165 shares, compared to its average volume of 1,986,453. Viasat Inc. has a one year low of $13.04 and a one year high of $89.79. The company has a market capitalization of $8.50 billion, a P/E ratio of -214.57 and a beta of 1.71. The stock’s fifty day simple moving average is $67.83 and its two-hundred day simple moving average is $52.09. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.19 and a current ratio of 2.41.

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Viasat (NASDAQ:VSAT – Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.20 billion. Viasat had a negative net margin of 0.73% and a positive return on equity of 1.58%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) earnings per share. On average, research analysts forecast that Viasat Inc. will post -0.35 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. New Street Research initiated coverage on Viasat in a research note on Wednesday, May 13th. They issued a “buy” rating and a $100.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research note on Monday, April 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $97.00 price objective on shares of Viasat in a report on Monday, June 1st. Needham & Company LLC upped their target price on shares of Viasat from $58.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Finally, Raymond James Financial set a $74.00 target price on shares of Viasat and gave the company an “outperform” rating in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $77.12.

Check Out Our Latest Stock Report on VSAT

Hedge Funds Weigh In On Viasat

Institutional investors have recently modified their holdings of the business. BankChampaign National Association bought a new stake in Viasat during the first quarter worth $437,000. Edgestream Partners L.P. grew its stake in Viasat by 88.4% in the 1st quarter. Edgestream Partners L.P. now owns 29,825 shares of the communications equipment provider’s stock valued at $1,366,000 after purchasing an additional 13,998 shares during the period. Janus Henderson Group PLC grew its stake in Viasat by 11.4% in the 1st quarter. Janus Henderson Group PLC now owns 52,637 shares of the communications equipment provider’s stock valued at $2,412,000 after purchasing an additional 5,400 shares during the period. South Dakota Investment Council increased its position in shares of Viasat by 92.6% during the 1st quarter. South Dakota Investment Council now owns 336,056 shares of the communications equipment provider’s stock valued at $15,391,000 after purchasing an additional 161,552 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Viasat by 78.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,026 shares of the communications equipment provider’s stock worth $184,000 after purchasing an additional 1,766 shares during the period. 86.05% of the stock is owned by institutional investors.

About Viasat

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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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