Key Points
- Viasat director Richard Baldridge sold 27,122 shares on June 3 at an average price of $71.74, totaling about $1.95 million. After the sale, he still owned 213,355 shares valued at roughly $15.3 million.
- Institutional investors have been adding to Viasat, with firms like Vanguard, Dimensional Fund Advisors, and American Century all increasing their stakes. Hedge funds and other institutions now own 86.05% of the stock.
- Analysts are mixed but generally constructive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $77.13. Recent targets ranged from $49 at Barclays to $106 at B. Riley, reflecting differing views on Viasat’s upside.
Viasat Inc. (NASDAQ:VSAT - Get Free Report) Director John Stenbit sold 653 shares of Viasat stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total transaction of $46,846.22. Following the completion of the sale, the director owned 29,597 shares in the company, valued at $2,123,288.78. This trade represents a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Viasat Price Performance
NASDAQ VSAT opened at $67.18 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.41 and a debt-to-equity ratio of 1.35. Viasat Inc. has a 12-month low of $9.01 and a 12-month high of $89.79. The company has a market capitalization of $9.17 billion, a PE ratio of -231.66 and a beta of 1.71. The firm's 50 day moving average is $64.38 and its 200-day moving average is $49.28.
Hedge Funds Weigh In On Viasat
Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in Viasat by 483.2% during the first quarter. Royal Bank of Canada now owns 109,448 shares of the communications equipment provider's stock worth $1,140,000 after purchasing an additional 90,680 shares during the period. AQR Capital Management LLC boosted its position in Viasat by 189.7% during the first quarter. AQR Capital Management LLC now owns 452,933 shares of the communications equipment provider's stock worth $4,692,000 after purchasing an additional 296,612 shares during the period. Millennium Management LLC boosted its position 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. boosted its position 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 boosted its position in Viasat by 6.9% during 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 during the period. 86.05% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
VSAT has been the topic of a number of recent research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Viasat in a report on Monday, April 20th. 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 objective on the stock. Raymond James Financial set a $74.00 price objective on shares of Viasat and gave the company an "outperform" rating in a report on Friday, April 24th. B. Riley Financial lifted their price objective on shares of Viasat from $94.00 to $106.00 and gave the company a "buy" rating in a report on Friday, May 29th. Finally, Needham & Company LLC lifted their price objective on shares of Viasat from $58.00 to $90.00 and gave the company a "buy" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $77.13.
Check Out Our Latest Stock Report on Viasat
About Viasat
(
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.
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