Everett Harris & Co. CA purchased a new stake in Viasat Inc. (NASDAQ:VSAT – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 60,380 shares of the communications equipment provider’s stock, valued at approximately $5,423,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Viasat by 2,821.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,222,981 shares of the communications equipment provider’s stock worth $111,065,000 after purchasing an additional 3,112,670 shares during the period. Millennium Management LLC lifted its stake in Viasat by 673.7% in 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 buying an additional 1,206,935 shares during the period. Goldman Sachs Group Inc. lifted its stake in Viasat by 64.9% in 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 buying an additional 1,128,338 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Viasat by 43.5% during the third quarter. Dimensional Fund Advisors LP now owns 3,307,187 shares of the communications equipment provider’s stock worth $96,890,000 after buying an additional 1,002,737 shares during the last quarter. Finally, Tema ETFs LLC boosted its holdings in Viasat by 229,857.1% during the second quarter. Tema ETFs LLC now owns 965,820 shares of the communications equipment provider’s stock worth $86,740,000 after buying an additional 965,400 shares during the last quarter. 86.05% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have recently commented on VSAT shares. Barclays set a $49.00 price target on Viasat in a research note on Friday, May 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a research note on Friday, July 17th. Needham & Company LLC boosted their price objective on shares of Viasat from $90.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Wall Street Zen downgraded shares of Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Zacks Research upgraded shares of Viasat from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Viasat has an average rating of “Moderate Buy” and a consensus target price of $90.67.
Insiders Place Their Bets
In related news, Director Richard A. Baldridge sold 223,542 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Benjamin Edward Palmer sold 2,400 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $75.46, for a total transaction of $181,104.00. Following the sale, the senior vice president owned 21,159 shares in the company, valued at $1,596,658.14. This trade represents a 10.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 671,861 shares of company stock worth $47,405,788 in the last three months. 1.40% of the stock is owned by corporate insiders.
Viasat Stock Down 0.0%
NASDAQ:VSAT opened at $82.87 on Friday. Viasat Inc. has a 1 year low of $25.50 and a 1 year high of $93.03. The stock has a 50-day moving average price of $73.64 and a two-hundred day moving average price of $62.14. The stock has a market cap of $11.42 billion, a price-to-earnings ratio of -345.29 and a beta of 1.72. The company has a current ratio of 1.68, a quick ratio of 1.52 and a debt-to-equity ratio of 1.23.
Viasat (NASDAQ:VSAT – Get Free Report) last released its quarterly earnings results 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). Viasat had a positive return on equity of 1.44% and a negative net margin of 0.64%.The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the business earned ($0.02) EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts expect that Viasat Inc. will post -0.36 earnings per share for the current year.
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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