Key Points
- Viasat CFO Garrett Chase sold 4,000 shares on June 22 at an average price of $62.41, totaling about $249,640. After the sale, he still held 34,239 shares, a 10.46% reduction in his ownership stake.
- Viasat shares were down 2.6% and opened at $62.23. The stock has traded between a 52-week low of $13.04 and high of $89.79, with a market cap of $8.5 billion.
- Recent earnings missed analyst expectations, with Viasat reporting EPS of -$0.02 versus the expected $0.32 and revenue of $1.17 billion versus the $1.20 billion estimate. Despite the miss, analysts currently hold a Moderate Buy consensus with a $77.12 price target.
Viasat Inc. (NASDAQ:VSAT - Get Free Report) CFO Garrett Chase sold 4,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $62.41, for a total value of $249,640.00. Following the completion of the sale, the chief financial officer directly owned 34,239 shares of the company's stock, valued at $2,136,855.99. This represents a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Viasat Trading Down 2.6%
Shares of Viasat stock opened at $62.23 on Thursday. Viasat Inc. has a 1 year low of $13.04 and a 1 year high of $89.79. The company's fifty day simple moving average is $67.94 and its 200-day simple moving average is $52.28. The company has a market cap of $8.50 billion, a price-to-earnings ratio of -214.57 and a beta of 1.71. The company has a current ratio of 2.41, a quick ratio of 2.19 and a debt-to-equity ratio of 1.35.
Viasat (NASDAQ:VSAT - Get Free Report) last released its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.34). Viasat had a negative net margin of 0.73% and a positive return on equity of 1.58%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the company earned ($0.02) earnings per share. Viasat's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that Viasat Inc. will post -0.35 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on VSAT shares. New Street Research initiated coverage on shares of Viasat in a research report on Wednesday, May 13th. They set a "buy" rating and a $100.00 price objective for the company. B. Riley Financial lifted their target price on Viasat from $94.00 to $106.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. Weiss Ratings restated a "sell (d-)" rating on shares of Viasat in a research note on Monday, April 20th. 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. Finally, Barclays set a $49.00 price objective on Viasat in a research report on Friday, May 29th. One 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 issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $77.12.
Read Our Latest Analysis on Viasat
Institutional Trading of Viasat
A number of large investors have recently bought and sold shares of VSAT. Valued Wealth Advisors LLC acquired a new stake in shares of Viasat in the 1st quarter valued at $25,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Viasat during the 4th quarter worth about $36,000. Los Angeles Capital Management LLC acquired a new stake in shares of Viasat during the 4th quarter worth about $38,000. International Assets Investment Management LLC bought a new position in Viasat during the 1st quarter valued at about $51,000. Finally, EFG International AG bought a new position in Viasat during the 4th quarter valued at about $41,000. 86.05% of the stock is currently owned by institutional investors.
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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