Key Points
- Viasat Director Richard Baldridge sold 223,542 shares on August 7 at an average price of $80.62, generating approximately $18.02 million in proceeds.
- Viasat shares opened at $84.52, with a market capitalization of $11.64 billion and a 52-week range of $25.50 to $93.03. The company recently missed quarterly earnings and revenue estimates, reporting an adjusted loss of $0.02 per share on $1.17 billion in revenue.
- Analysts maintain a generally positive outlook, with Viasat carrying a “Moderate Buy” consensus rating and an average price target of $90.67; institutional investors own approximately 86.05% of the stock.
Viasat Inc. (NASDAQ:VSAT - Get Free Report) Director Richard Baldridge sold 223,542 shares of the business's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $80.62, for a total transaction of $18,021,956.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Viasat Stock Down 0.4%
VSAT opened at $84.52 on Wednesday. The company has a market capitalization of $11.64 billion, a PE ratio of -352.17 and a beta of 1.72. The firm has a 50-day simple moving average of $72.77 and a two-hundred day simple moving average of $61.41. The company has a quick ratio of 1.52, a current ratio of 1.68 and a debt-to-equity ratio of 1.23. Viasat Inc. has a 52 week low of $25.50 and a 52 week high of $93.03.
Viasat (NASDAQ:VSAT - Get Free Report) last issued 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). The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.20 billion. Viasat had a positive return on equity of 1.44% and a negative net margin of 0.64%.The company's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.02) earnings per share. Analysts forecast that Viasat Inc. will post -0.28 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages have recently issued reports on VSAT. B. Riley Financial upped their price objective on Viasat from $94.00 to $106.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Needham & Company LLC boosted their price target on shares of Viasat from $90.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Barclays set a $49.00 price target on shares of Viasat in a research note on Friday, May 29th. Morgan Stanley set a $95.00 price objective on shares of Viasat in a research report on Monday. Finally, New Street Research initiated coverage on shares of Viasat in a research note on Wednesday, May 13th. They issued a "buy" rating and a $100.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Viasat presently has an average rating of "Moderate Buy" and an average target price of $90.67.
View Our Latest Report on VSAT
Institutional Investors Weigh In On Viasat
A number of institutional investors and hedge funds have recently modified their holdings of VSAT. Elevation Wealth Partners LLC lifted its position in shares of Viasat by 935.3% during the second quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider's stock worth $32,000 after purchasing an additional 318 shares during the last quarter. Trust Co. of Vermont bought a new position in shares of Viasat in the second quarter worth about $46,000. Valued Wealth Advisors LLC bought a new position in shares of Viasat in the first quarter worth about $25,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Viasat in the 4th quarter worth about $36,000. Finally, Los Angeles Capital Management LLC bought a new stake in Viasat during the 4th quarter valued at about $38,000. 86.05% of the stock is 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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