Viasat Inc. (NASDAQ:VSAT - Get Free Report) CFO Garrett Chase sold 4,000 shares of the company's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $74.90, for a total value of $299,600.00. Following the transaction, the chief financial officer directly owned 26,239 shares in the company, valued at $1,965,301.10. This represents a 13.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Viasat Price Performance
Shares of NASDAQ VSAT opened at $72.28 on Tuesday. Viasat Inc. has a fifty-two week low of $26.10 and a fifty-two week high of $93.03. The company has a market cap of $9.96 billion, a PE ratio of -301.17 and a beta of 1.72. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.52 and a current ratio of 1.68. The business has a 50-day simple moving average of $74.75 and a two-hundred day simple moving average of $63.57.
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 the consensus estimate of $0.32 by ($0.34). The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.20 billion. Viasat had a negative net margin of 0.64% and a positive return on equity of 1.44%. The business's revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.02) EPS. As a group, equities analysts expect that Viasat Inc. will post -0.36 EPS for the current fiscal year.
Institutional Investors Weigh In On Viasat
Several hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc raised its stake in shares of Viasat by 4.4% during the 2nd quarter. Versant Capital Management Inc now owns 4,940 shares of the communications equipment provider's stock valued at $444,000 after buying an additional 207 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Viasat by 2.6% in the first quarter. Cetera Investment Advisers now owns 8,605 shares of the communications equipment provider's stock worth $394,000 after buying an additional 217 shares during the last quarter. Elevation Wealth Partners LLC grew its holdings in 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 acquiring an additional 318 shares during the period. Aberdeen Wealth Management LLC acquired a new stake in Viasat during the second quarter worth about $30,000. Finally, Vise Technologies Inc. raised its position in Viasat by 4.8% during the fourth quarter. Vise Technologies Inc. now owns 7,446 shares of the communications equipment provider's stock valued at $257,000 after acquiring an additional 342 shares in the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the stock. Morgan Stanley set a $95.00 price objective on shares of Viasat in a research note on Monday, August 10th. Zacks Research raised Viasat from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $97.00 price objective on shares of Viasat in a report on Monday, June 1st. Needham & Company LLC raised their price objective on Viasat from $90.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, Oppenheimer started coverage on Viasat in a research report on Monday, June 29th. They issued an "outperform" rating and a $140.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $90.67.
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About Viasat
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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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