Meeder Asset Management Inc. boosted its position in Viasat Inc. (NASDAQ:VSAT – Free Report) by 87.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 35,279 shares of the communications equipment provider’s stock after purchasing an additional 16,470 shares during the period. Meeder Asset Management Inc.’s holdings in Viasat were worth $1,616,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of VSAT. Royal Bank of Canada raised its position in shares of Viasat by 483.2% in the 1st quarter. Royal Bank of Canada now owns 109,448 shares of the communications equipment provider’s stock worth $1,140,000 after acquiring an additional 90,680 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Viasat by 189.7% during the 1st quarter. AQR Capital Management LLC now owns 452,933 shares of the communications equipment provider’s stock valued at $4,692,000 after purchasing 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 worth $14,443,000 after purchasing an additional 1,206,935 shares during the period. 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 worth $29,866,000 after purchasing an additional 1,128,338 shares during the period. Finally, Empowered Funds LLC increased its holdings in Viasat by 6.9% in the first quarter. Empowered Funds LLC now owns 226,184 shares of the communications equipment provider’s stock worth $2,357,000 after purchasing an additional 14,575 shares in the last quarter. Institutional investors own 86.05% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the company. Barclays set a $49.00 price target on Viasat in a research note on Friday, May 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a research note on Friday. Zacks Research lowered shares of Viasat from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 30th. Needham & Company LLC boosted their target price on shares of Viasat from $58.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Finally, Raymond James Financial set a $74.00 target price on shares of Viasat and gave the stock an “outperform” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Viasat has an average rating of “Moderate Buy” and a consensus price target of $84.11.
Viasat Stock Down 2.8%
VSAT stock opened at $69.51 on Tuesday. The stock’s 50 day simple moving average is $71.87 and its 200 day simple moving average is $57.21. The company has a market cap of $9.49 billion, a P/E ratio of -239.69 and a beta of 1.70. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.19 and a current ratio of 2.41. Viasat Inc. has a fifty-two week low of $14.00 and a fifty-two week high of $93.03.
Viasat (NASDAQ:VSAT – Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). The firm had revenue of $1.17 billion during 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 company’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted ($0.02) EPS. On average, research analysts expect that Viasat Inc. will post -0.39 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Viasat news, CFO Garrett L. Chase sold 4,000 shares of the company’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 transaction, the chief financial officer owned 34,239 shares in the company, valued at approximately $2,136,855.99. This represents a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark D. Dankberg sold 400,000 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $64.76, for a total transaction of $25,904,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,082,196 shares in the company, valued at $70,083,012.96. This trade represents a 26.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 438,803 shares of company stock worth $28,655,600 over the last quarter. Corporate insiders own 2.20% of the company’s stock.
Viasat Company Profile
Viasat, Inc (NASDAQ: VSAT) provides highâcapacity 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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