Key Points
- CEO Mark Dankberg sold 100,000 shares on Jan. 6 at an average price of $40.34 for proceeds of $4,034,000, cutting his ownership by 6.51% to 1,434,993 shares (about $57.9M); the transaction was disclosed in an SEC filing.
- Viasat beat quarterly EPS expectations ($0.09 vs. -$0.11) with $1.14B in revenue, but still shows a negative net margin and mixed analyst sentiment (average rating "Hold" with a $32.75 target) as the stock trades near its 12‑month high.
Viasat Inc. (NASDAQ:VSAT - Get Free Report) CEO Mark Dankberg sold 100,000 shares of the business's stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $40.34, for a total transaction of $4,034,000.00. Following the completion of the transaction, the chief executive officer owned 1,434,993 shares in the company, valued at approximately $57,887,617.62. The trade was a 6.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Viasat Trading Up 2.7%
Shares of VSAT stock opened at $38.72 on Friday. The company has a quick ratio of 1.84, a current ratio of 2.08 and a debt-to-equity ratio of 1.43. The firm has a market cap of $5.24 billion, a P/E ratio of -9.68 and a beta of 1.39. The company has a 50 day moving average of $35.57 and a 200-day moving average of $29.33. Viasat Inc. has a 12-month low of $7.36 and a 12-month high of $43.59.
Viasat (NASDAQ:VSAT - Get Free Report) last announced its quarterly earnings data on Saturday, November 8th. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.20. Viasat had a negative return on equity of 3.65% and a negative net margin of 11.40%.The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the company earned ($0.23) earnings per share. Viasat's revenue was up 2.0% compared to the same quarter last year. Sell-side analysts anticipate that Viasat Inc. will post -0.54 earnings per share for the current year.
Analysts Set New Price Targets
VSAT has been the topic of a number of analyst reports. Barclays reissued an "underweight" rating and set a $23.00 target price (up previously from $10.00) on shares of Viasat in a report on Wednesday, October 1st. Needham & Company LLC lifted their price target on Viasat from $25.00 to $45.00 and gave the company a "buy" rating in a research report on Tuesday, November 11th. Raymond James Financial upgraded Viasat from a "market perform" rating to an "outperform" rating and set a $52.00 price objective on the stock in a research note on Monday, November 10th. JPMorgan Chase & Co. raised Viasat from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $23.00 to $50.00 in a report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Viasat in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Viasat presently has an average rating of "Hold" and an average target price of $32.75.
Get Our Latest Stock Report on VSAT
Institutional Investors Weigh In On Viasat
A number of institutional investors and hedge funds have recently made changes to their positions in VSAT. GAMMA Investing LLC boosted its stake in Viasat by 15.9% during the third quarter. GAMMA Investing LLC now owns 2,387 shares of the communications equipment provider's stock valued at $70,000 after buying an additional 327 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Viasat by 1.9% in the 3rd quarter. Victory Capital Management Inc. now owns 19,145 shares of the communications equipment provider's stock valued at $561,000 after acquiring an additional 361 shares in the last quarter. Raymond James Financial Inc. boosted its position in shares of Viasat by 3.1% during the 3rd quarter. Raymond James Financial Inc. now owns 18,989 shares of the communications equipment provider's stock valued at $556,000 after acquiring an additional 579 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in shares of Viasat by 22.6% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 3,250 shares of the communications equipment provider's stock worth $95,000 after purchasing an additional 600 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Viasat by 2.4% during the third quarter. Arizona State Retirement System now owns 30,838 shares of the communications equipment provider's stock worth $904,000 after purchasing an additional 710 shares in the last quarter. Hedge funds and other institutional investors own 86.05% of the company's stock.
Viasat Company Profile
(
Get Free Report)
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.
Further Reading
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