Key Points
- Viasat director John Stenbit sold 528 shares on July 1 at an average price of $88.79, reducing his holdings by 42.24% to 722 shares.
- Viasat shares were down 2.2% in the trading session, opening at $81.92, after a strong run that left the stock well above its 50-day and 200-day moving averages.
- Recent earnings missed expectations: Viasat reported EPS of -$0.02 versus the expected $0.32, while revenue of $1.17 billion also came in slightly below estimates; analysts currently have a consensus Moderate Buy rating with an average target price of $84.11.
Viasat Inc. (NASDAQ:VSAT - Get Free Report) Director John Stenbit sold 528 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $88.79, for a total value of $46,881.12. Following the completion of the transaction, the director directly owned 722 shares in the company, valued at approximately $64,106.38. This represents a 42.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Viasat Trading Down 2.2%
Shares of VSAT stock opened at $81.92 on Tuesday. 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 business has a 50-day moving average price of $70.51 and a two-hundred day moving average price of $54.62. Viasat Inc. has a 12-month low of $14.00 and a 12-month high of $93.03. The firm has a market cap of $11.19 billion, a P/E ratio of -281.98 and a beta of 1.70.
Viasat (NASDAQ:VSAT - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.34). The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.20 billion. Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.Viasat's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.02) earnings per share. Equities analysts anticipate that Viasat Inc. will post -0.39 EPS for the current fiscal year.
Hedge Funds Weigh In On Viasat
Hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in shares of Viasat by 4.4% during the second quarter. Versant Capital Management Inc now owns 4,940 shares of the communications equipment provider's stock worth $444,000 after purchasing an additional 207 shares during the period. BankChampaign National Association bought a new stake in shares of Viasat in the 1st quarter worth approximately $437,000. Edgestream Partners L.P. increased its stake in shares of Viasat by 88.4% during the first quarter. Edgestream Partners L.P. now owns 29,825 shares of the communications equipment provider's stock valued at $1,366,000 after buying an additional 13,998 shares during the period. Janus Henderson Group PLC increased its stake in shares of Viasat by 11.4% during the first quarter. Janus Henderson Group PLC now owns 52,637 shares of the communications equipment provider's stock valued at $2,412,000 after buying an additional 5,400 shares during the period. Finally, South Dakota Investment Council lifted its stake in Viasat by 92.6% in the first quarter. South Dakota Investment Council now owns 336,056 shares of the communications equipment provider's stock worth $15,391,000 after acquiring an additional 161,552 shares during the period. 86.05% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts have issued reports on VSAT shares. Zacks Research lowered Viasat from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 30th. Needham & Company LLC boosted their price objective on shares of Viasat from $58.00 to $90.00 and gave the stock a "buy" rating in a report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $97.00 target price on shares of Viasat in a report on Monday, June 1st. B. Riley Financial boosted their price target on shares of Viasat from $94.00 to $106.00 and gave the stock a "buy" rating in a research note on Friday, May 29th. Finally, Raymond James Financial set a $74.00 price target on shares of Viasat and gave the company an "outperform" rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $84.11.
Check Out Our Latest Stock Analysis on VSAT
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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