P Schoenfeld Asset Management LP reduced its position in Viasat Inc. (NASDAQ:VSAT – Free Report) by 61.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 96,632 shares of the communications equipment provider’s stock after selling 153,368 shares during the quarter. Viasat comprises about 1.2% of P Schoenfeld Asset Management LP’s holdings, making the stock its 20th largest position. P Schoenfeld Asset Management LP’s holdings in Viasat were worth $3,330,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Viasat by 8.2% in the 3rd quarter. Vanguard Group Inc. now owns 16,962,958 shares of the communications equipment provider’s stock valued at $497,015,000 after buying an additional 1,289,024 shares during the period. Disciplined Growth Investors Inc. MN increased its stake in Viasat by 15.8% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,845,100 shares of the communications equipment provider’s stock valued at $85,338,000 after buying an additional 796,349 shares during the period. Dimensional Fund Advisors LP increased its stake in Viasat by 22.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,050,883 shares of the communications equipment provider’s stock valued at $139,601,000 after buying an additional 743,696 shares during the period. American Century Companies Inc. increased its stake in Viasat by 38.5% in the 3rd quarter. American Century Companies Inc. now owns 3,713,581 shares of the communications equipment provider’s stock valued at $108,808,000 after buying an additional 1,033,194 shares during the period. Finally, Geode Capital Management LLC increased its stake in Viasat by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 3,328,854 shares of the communications equipment provider’s stock valued at $115,266,000 after buying an additional 273,369 shares during the period. 86.05% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have recently weighed in on VSAT. Barclays set a $49.00 price target on shares of Viasat in a research note on Friday, May 29th. Raymond James Financial set a $74.00 price target on shares of Viasat and gave the company an “outperform” rating in a report on Friday, April 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a report on Monday, April 20th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $97.00 price target on shares of Viasat in a report on Monday, June 1st. Finally, New Street Research initiated coverage on shares of Viasat in a report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.13.
Insider Transactions at Viasat
In related news, CEO Mark D. Dankberg sold 400,000 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $64.76, for a total value of $25,904,000.00. Following the sale, the chief executive officer directly owned 1,082,196 shares of the company’s stock, valued at approximately $70,083,012.96. This represents a 26.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Garrett L. Chase sold 4,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $72.50, for a total transaction of $290,000.00. Following the completion of the sale, the chief financial officer directly owned 38,239 shares in the company, valued at approximately $2,772,327.50. The trade was a 9.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 439,535 shares of company stock worth $28,622,079 in the last 90 days. Insiders own 2.20% of the company’s stock.
Viasat Stock Performance
Shares of VSAT opened at $70.17 on Monday. The company has a 50-day simple moving average of $66.47 and a 200-day simple moving average of $50.60. The company has a quick ratio of 2.19, a current ratio of 2.41 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $9.58 billion, a PE ratio of -241.97 and a beta of 1.70. Viasat Inc. has a 52-week low of $11.44 and a 52-week high of $89.79.
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 analysts’ consensus estimates of $0.32 by ($0.34). The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Viasat had a negative net margin of 0.73% and a positive return on equity of 1.58%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) EPS. Equities research analysts predict that Viasat Inc. will post -0.35 earnings per share for the current fiscal year.
Viasat Profile
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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