Key Points
- Viasat CEO Mark Dankberg sold 400,000 shares on June 8 at an average price of $64.76, totaling about $25.9 million. The sale reduced his direct stake by 26.99%, and the filing says it was to cover tax withholding tied to vested equity awards.
- VSAT shares slipped 2.4% and were trading around $63.94, giving the company a market cap of about $8.73 billion. The stock remains well above its 52-week low but below its 52-week high.
- Analysts remain mixed but mostly positive on Viasat, with an overall “Moderate Buy” consensus and average price target of $77.13. Recent targets ranged from $49 to $106, reflecting divergent views on the company’s outlook.
Viasat Inc. (NASDAQ:VSAT - Get Free Report) Director Theresa Wise sold 2,500 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $69.00, for a total value of $172,500.00. Following the completion of the transaction, the director owned 11,000 shares in the company, valued at $759,000. The trade was a 18.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Viasat Price Performance
Shares of NASDAQ VSAT opened at $63.94 on Wednesday. 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 $8.73 billion, a PE ratio of -220.48 and a beta of 1.71. The stock's 50 day moving average price is $65.08 and its 200-day moving average price is $49.81. Viasat Inc. has a twelve month low of $10.31 and a twelve month high of $89.79.
Institutional Investors Weigh In On Viasat
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BankChampaign National Association bought a new stake in Viasat during the 1st quarter valued at $437,000. Edgestream Partners L.P. raised its holdings in Viasat by 88.4% during the 1st quarter. Edgestream Partners L.P. now owns 29,825 shares of the communications equipment provider's stock valued at $1,366,000 after acquiring an additional 13,998 shares during the period. Janus Henderson Group PLC raised its holdings in Viasat by 11.4% during the 1st quarter. Janus Henderson Group PLC now owns 52,637 shares of the communications equipment provider's stock valued at $2,412,000 after acquiring an additional 5,400 shares during the period. South Dakota Investment Council raised its holdings in Viasat by 92.6% during the 1st quarter. South Dakota Investment Council now owns 336,056 shares of the communications equipment provider's stock valued at $15,391,000 after acquiring an additional 161,552 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Viasat by 78.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,026 shares of the communications equipment provider's stock valued at $184,000 after acquiring an additional 1,766 shares during the period. Institutional investors own 86.05% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently commented on VSAT. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $97.00 price target on shares of Viasat in a report on Monday, June 1st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Viasat in a report on Monday, April 20th. Barclays set a $49.00 price target on shares of Viasat in a report on Friday, May 29th. B. Riley Financial lifted their price target on shares of Viasat from $94.00 to $106.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Finally, New Street Research began coverage on shares of Viasat in a report on Wednesday, May 13th. They issued a "buy" rating and a $100.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Viasat currently has an average rating of "Moderate Buy" and a consensus price target of $77.13.
View Our Latest Research Report on Viasat
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.
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