Key Points
- Viasat CFO Garrett Chase sold 4,000 shares at an average price of $76.91, generating approximately $307,640. He retains 51,534 shares, but his direct ownership declined 7.2%.
- Viasat shares opened at $73.68, down 1.7%, with the stock trading between a 52-week low of $26.10 and high of $93.03. The company has a market capitalization of approximately $10.15 billion.
- Analysts maintain a broadly positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $90.67; recent targets range from $49 to $140.
Viasat Inc. (NASDAQ:VSAT - Get Free Report) CFO Garrett Chase sold 4,000 shares of the firm's stock in a transaction on Monday, September 21st. The stock was sold at an average price of $76.91, for a total transaction of $307,640.00. Following the completion of the sale, the chief financial officer owned 51,534 shares in the company, valued at $3,963,479.94. This represents a 7.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Viasat Stock Down 1.7%
Shares of VSAT opened at $73.68 on Thursday. The company has a 50-day simple moving average of $75.24 and a 200-day simple moving average of $67.74. The firm has a market capitalization of $10.15 billion, a P/E ratio of -307.00 and a beta of 1.70. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.52 and a current ratio of 1.68. Viasat Inc. has a 52 week low of $26.10 and a 52 week high of $93.03.
More Viasat News
Here are the key news stories impacting Viasat this week:
- Positive Sentiment: Viasat received an initial $42 million task order under a U.S. Marine Corps enterprise services contract with a potential ceiling of $307 million. The company will provide integrated, multi-network and multi-orbit connectivity designed to improve mission performance and communications resiliency. The award strengthens Viasat’s government business and provides potential for additional task orders. Viasat Marine Corps contract announcement
- Neutral Sentiment: ViaSat-3 F2 has entered service across the Americas, completing Viasat’s three-satellite ViaSat-3 constellation. Management says the deployment has tripled bandwidth across its global fleet, potentially supporting future growth; however, investors are focused on whether the added capacity will produce higher utilization, revenue and cash flow. Viasat satellite capacity and cash flow article
- Negative Sentiment: Chief Financial Officer Garrett Chase sold 4,000 shares for approximately $307,640 at an average price of $76.91. Although he still owns 51,534 shares, the transaction reduced his direct holdings by 7.2% and may weigh modestly on sentiment because it signals insider selling. SEC insider transaction filing
Analysts Set New Price Targets
Several research firms have commented on VSAT. Oppenheimer began coverage on Viasat in a report on Monday, June 29th. They issued an "outperform" rating and a $140.00 price target for the company. Zacks Research upgraded Viasat from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 29th. Barclays set a $49.00 target price on Viasat in a report on Friday, May 29th. Needham & Company LLC raised their price target on Viasat from $90.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Viasat in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $90.67.
Get Our Latest Stock Analysis on VSAT
Institutional Trading of Viasat
Several institutional investors and hedge funds have recently made changes to their positions in the business. Valued Wealth Advisors LLC bought a new position in shares of Viasat in the 1st quarter worth $25,000. Aberdeen Wealth Management LLC bought a new stake in Viasat in the second quarter valued at about $30,000. Elevation Wealth Partners LLC lifted its stake in Viasat by 935.3% in the second quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider's stock valued at $32,000 after buying an additional 318 shares during the period. Bullseye Investment Management LLC bought a new position in Viasat during the second quarter worth about $37,000. Finally, Rakuten Securities Inc. acquired a new position in shares of Viasat during the 2nd quarter worth about $43,000. Institutional investors own 86.05% of the company's stock.
About Viasat
(
Get Free Report)
Viasat, Inc is a communications company that provides satellite-based connectivity and related services to consumers, businesses, governments and other organizations. The company develops and operates satellite networks, ground infrastructure and connectivity systems designed to deliver broadband, communications and data services in locations where terrestrial networks may be limited.
Viasat's offerings include residential and community internet access, in-flight connectivity for commercial and business aviation, maritime communications, and connectivity solutions for government and defense customers.
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