Key Points
- Viasat CFO Garrett Chase sold 4,000 shares at an average price of $72.23, generating $288,920. Following the transaction, he retained 30,239 shares, an 11.68% reduction in his position.
- Viasat shares opened at $74.13, with a market capitalization of approximately $10.12 billion and a 12-month trading range of $14.50 to $93.03. The company’s latest quarterly results missed expectations, reporting a loss of $0.02 per share versus the $0.32 consensus estimate.
- Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $84.11, despite ratings ranging from “Strong Sell” to “Buy.” Institutional investors own approximately 86.05% of Viasat’s outstanding stock.
Viasat Inc. (NASDAQ:VSAT - Get Free Report) CFO Garrett Chase sold 4,000 shares of the stock in a transaction on Monday, July 20th. The shares were sold at an average price of $72.23, for a total transaction of $288,920.00. Following the transaction, the chief financial officer owned 30,239 shares of the company's stock, valued at $2,184,162.97. This trade represents a 11.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Viasat Stock Performance
Viasat stock opened at $74.13 on Wednesday. The company's 50-day moving average price is $72.17 and its 200-day moving average price is $58.73. Viasat Inc. has a twelve month low of $14.50 and a twelve month high of $93.03. 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 cap of $10.12 billion, a PE ratio of -255.62 and a beta of 1.70.
Viasat (NASDAQ:VSAT - Get Free Report) last announced its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share (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 business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts forecast that Viasat Inc. will post -0.39 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of VSAT. Jefferies Financial Group Inc. bought a new stake in shares of Viasat during the 4th quarter worth approximately $830,000. SG Americas Securities LLC grew its position in Viasat by 797.5% in the 4th quarter. SG Americas Securities LLC now owns 117,019 shares of the communications equipment provider's stock valued at $4,032,000 after acquiring an additional 103,981 shares during the last quarter. Gamco Investors INC. ET AL grew its position in Viasat by 84.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 38,700 shares of the communications equipment provider's stock valued at $1,334,000 after acquiring an additional 17,700 shares during the last quarter. Hussman Strategic Advisors Inc. increased its stake in Viasat by 100.0% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the communications equipment provider's stock worth $2,895,000 after purchasing an additional 42,000 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new stake in Viasat in the first quarter worth $2,757,000. Hedge funds and other institutional investors own 86.05% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $97.00 price objective on shares of Viasat in a research note on Monday, June 1st. Zacks Research downgraded Viasat from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 30th. B. Riley Financial increased their price target on Viasat from $94.00 to $106.00 and gave the company a "buy" rating in a report on Friday, May 29th. New Street Research started coverage on Viasat in a research report on Wednesday, May 13th. They issued a "buy" rating and a $100.00 price target for the company. Finally, Oppenheimer began coverage on shares of Viasat in a research report on Monday, June 29th. They set an "outperform" rating and a $140.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.11.
Get Our Latest Analysis on VSAT
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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