Key Points
- Viasat SVP Craig Miller sold 22,500 shares for about $1.58 million at an average price of $70.19, reducing his stock ownership by 35.12% to 41,570 shares.
- Viasat’s latest quarter showed an adjusted loss of $0.32 per share, narrower than expected, while revenue rose 3.4% year over year to $1.18 billion—below the $1.20 billion estimate.
- Analysts give Viasat a consensus “Moderate Buy” rating and an average price target of $90.67.
Viasat Inc. (NASDAQ:VSAT - Get Free Report) SVP Craig Miller sold 22,500 shares of the business's stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $70.19, for a total value of $1,579,275.00. Following the sale, the senior vice president owned 41,570 shares of the company's stock, valued at approximately $2,917,798.30. This trade represents a 35.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.
Craig Andrew Miller also recently made the following trade(s):
- On Friday, October 9th, Craig Miller sold 11,893 shares of Viasat stock. The shares were sold at an average price of $71.61, for a total value of $851,657.73.
Viasat Stock Performance
NASDAQ VSAT opened at $59.38 on Friday. The company has a market cap of $8.18 billion, a PE ratio of -247.42 and a beta of 1.76. The stock's 50 day simple moving average is $69.95 and its 200-day simple moving average is $64.15. Viasat Inc. has a 1-year low of $29.13 and a 1-year high of $93.03. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.68 and a quick ratio of 1.52.
Viasat (NASDAQ:VSAT - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The communications equipment provider reported ($0.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.42) by $0.10. Viasat had a positive return on equity of 1.44% and a negative net margin of 0.64%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the company posted $0.09 earnings per share. The business's revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts anticipate that Viasat Inc. will post -0.38 EPS for the current fiscal year.
Institutional Investors Weigh In On Viasat
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Viasat during the second quarter worth approximately $1,863,374,000. Bank of America Corp DE purchased a new stake in Viasat in the 2nd quarter valued at $127,283,000. Tema ETFs LLC grew its holdings in Viasat by 229,857.1% in the 2nd quarter. Tema ETFs LLC now owns 965,820 shares of the communications equipment provider's stock valued at $86,740,000 after buying an additional 965,400 shares in the last quarter. Tidal Investments LLC grew its holdings in Viasat by 8,261.7% in the 2nd quarter. Tidal Investments LLC now owns 976,646 shares of the communications equipment provider's stock valued at $87,713,000 after buying an additional 964,966 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Viasat in the 2nd quarter worth $80,124,000. Institutional investors and hedge funds own 86.05% of the company's stock.
Analysts Set New Price Targets
VSAT has been the subject of a number of research reports. Needham & Company LLC upped their target price on shares of Viasat from $90.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Wall Street Zen cut shares of Viasat from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Viasat in a research note on Thursday, October 15th. Zacks Research upgraded shares of Viasat from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 29th. Finally, Morgan Stanley set a $95.00 price target on shares of Viasat in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Viasat presently has an average rating of "Moderate Buy" and a consensus price target of $90.67.
View Our Latest Research Report on VSAT
Viasat News Roundup
Here are the key news stories impacting Viasat this week:
- Positive Sentiment: Viasat reported an adjusted loss of $0.32 per share, narrower than analysts’ expected $0.42 loss. Revenue also increased 3.4% year over year. Earnings report
- Neutral Sentiment: Senior Vice President Craig Miller disclosed selling 22,500 shares for about $1.58 million, reducing his direct holding by 35.12%. The filing does not establish a reason for the sale. SEC filing
- Negative Sentiment: Fiscal Q2 revenue was $1.18 billion, below the $1.20 billion FactSet estimate, while the company’s net loss widened. The loss per share also compared unfavorably with earnings of $0.09 in the year-ago quarter, raising concerns despite the adjusted EPS beat. Viasat Q2 results Revenue estimate comparison
Viasat Company Profile
(
Get Free Report)
Viasat, Inc is a communications technology company that provides satellite-based connectivity and related services to commercial, government and consumer customers. The company's offerings include high-speed broadband, satellite communications, network services and connectivity solutions designed for locations where terrestrial networks may be limited or unavailable.
Viasat serves the aviation, maritime, residential broadband, enterprise and government markets. Its services support in-flight internet for commercial and business aircraft, connectivity for ships and offshore operations, broadband access for homes and communities, and secure communications for government and defense customers.
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