Key Points
- Viasat SVP Benjamin Palmer sold 2,000 shares at an average price of $69.87, generating $139,740. After the transaction, he retained 28,087 shares, a 6.65% reduction in his position.
- Viasat shares opened at $69.79, with a market capitalization of approximately $9.61 billion and a 52-week trading range of $29.13 to $93.03. Institutional investors own 86.05% of the company.
- Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $90.67, despite one analyst downgrading the stock to “Sell.”
Viasat Inc. (NASDAQ:VSAT - Get Free Report) SVP Benjamin Palmer sold 2,000 shares of the company's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $69.87, for a total transaction of $139,740.00. Following the completion of the transaction, the senior vice president owned 28,087 shares in the company, valued at approximately $1,962,438.69. The trade was a 6.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Benjamin Edward Palmer also recently made the following trade(s):
- On Tuesday, September 1st, Benjamin Palmer sold 2,000 shares of Viasat stock. The shares were sold at an average price of $66.75, for a total transaction of $133,500.00.
- On Monday, August 3rd, Benjamin Palmer sold 2,400 shares of Viasat stock. The shares were sold at an average price of $75.46, for a total transaction of $181,104.00.
Viasat Stock Down 3.1%
Shares of Viasat stock opened at $69.79 on Tuesday. The company has a 50-day simple moving average of $75.07 and a two-hundred day simple moving average of $69.13. The stock has a market capitalization of $9.61 billion, a PE ratio of -290.79 and a beta of 1.76. Viasat Inc. has a 52-week low of $29.13 and a 52-week high of $93.03. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.52 and a current ratio of 1.68.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its position in shares of Viasat by 4.0% during the third quarter. Versant Capital Management Inc now owns 5,140 shares of the communications equipment provider's stock worth $362,000 after acquiring an additional 200 shares during the last quarter. Cetera Investment Advisers increased its holdings in Viasat by 2.6% in the 1st quarter. Cetera Investment Advisers now owns 8,605 shares of the communications equipment provider's stock valued at $394,000 after acquiring an additional 217 shares during the last quarter. Arizona State Retirement System increased its holdings in Viasat by 0.9% in the 2nd quarter. Arizona State Retirement System now owns 31,858 shares of the communications equipment provider's stock valued at $2,861,000 after acquiring an additional 278 shares during the last quarter. Elevation Wealth Partners LLC lifted its stake in Viasat by 935.3% in the 2nd 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 in the last quarter. Finally, Aberdeen Wealth Management LLC purchased a new stake in Viasat in the 2nd quarter worth $30,000. Institutional investors own 86.05% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on VSAT shares. Oppenheimer began coverage on shares of Viasat in a report on Monday, June 29th. They issued an "outperform" rating and a $140.00 price objective for the company. Morgan Stanley set a $95.00 target price on Viasat in a report on Monday, August 10th. Zacks Research upgraded Viasat from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 29th. Needham & Company LLC upped 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, Wall Street Zen cut Viasat from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. 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 issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $90.67.
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About Viasat
(
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Viasat, Inc is a communications company that provides satellite connectivity and related services to commercial, government and consumer customers. Its offerings include broadband internet, in-flight connectivity, maritime communications, enterprise networking and secure communications for government and defense applications.
The company operates a fleet of communications satellites and develops supporting ground infrastructure, network services and connectivity equipment. Viasat serves customers across North America, Europe, the Middle East, Africa, Asia-Pacific and other international markets, including airlines, shipping companies, businesses, government agencies and households in areas where terrestrial broadband is limited.
Viasat was founded in 1986 and is headquartered in Carlsbad, California.
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