Deutsche Bank AG acquired a new stake in shares of Viasat Inc. (NASDAQ:VSAT – Free Report) during the second quarter, Holdings Channel.com reports. The fund acquired 401,562 shares of the communications equipment provider’s stock, valued at approximately $36,064,000.
A number of other institutional investors have also made changes to their positions in VSAT. Price T Rowe Associates Inc. MD raised its holdings in Viasat by 2,821.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,222,981 shares of the communications equipment provider’s stock valued at $111,065,000 after acquiring an additional 3,112,670 shares in the last quarter. Millennium Management LLC grew its holdings in Viasat by 673.7% during the 1st quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider’s stock worth $14,443,000 after acquiring an additional 1,206,935 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Viasat by 64.9% in the 1st 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 last quarter. Dimensional Fund Advisors LP increased its position in shares of Viasat by 43.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,307,187 shares of the communications equipment provider’s stock worth $96,890,000 after purchasing an additional 1,002,737 shares during the last quarter. Finally, Tema ETFs LLC raised its stake in shares of Viasat by 229,857.1% in the 2nd quarter. Tema ETFs LLC now owns 965,820 shares of the communications equipment provider’s stock valued at $86,740,000 after purchasing an additional 965,400 shares in the last quarter. 86.05% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Zacks Research upgraded Viasat from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Morgan Stanley set a $95.00 price objective on Viasat in a research note on Monday, August 10th. B. Riley Financial increased their target price on Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $97.00 target price on shares of Viasat in a research report on Monday, June 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Viasat presently has a consensus rating of “Moderate Buy” and an average target price of $90.67.
Insider Activity
In related news, Director Theresa Wise sold 2,500 shares of Viasat stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $69.00, for a total transaction of $172,500.00. Following the transaction, the director directly owned 11,000 shares of the company’s stock, valued at $759,000. The trade was a 18.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard A. Baldridge sold 223,542 shares of Viasat stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $80.62, for a total transaction of $18,021,956.04. The SEC filing for this sale provides additional information. Insiders have sold 671,861 shares of company stock worth $47,405,788 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.
Viasat Price Performance
Shares of VSAT opened at $74.72 on Friday. The company has a market cap of $10.29 billion, a P/E ratio of -311.33 and a beta of 1.72. The stock has a fifty day moving average price of $74.62 and a 200 day moving average price of $63.23. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.68 and a quick ratio of 1.52. Viasat Inc. has a 12 month low of $26.10 and a 12 month high of $93.03.
Viasat (NASDAQ:VSAT – Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.34). The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.20 billion. Viasat had a negative net margin of 0.64% and a positive return on equity of 1.44%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.02) EPS. On average, research analysts forecast that Viasat Inc. will post -0.36 earnings per share for the current year.
About Viasat
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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