Viasat (NASDAQ:VSAT) CFO Sells $290,000.00 in Stock

Viasat Inc. (NASDAQ:VSAT) CFO Garrett Chase sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $72.50, for a total transaction of $290,000.00. Following the transaction, the chief financial officer directly owned 38,239 shares of the company’s stock, valued at approximately $2,772,327.50. This trade represents a 9.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Viasat Price Performance

VSAT stock traded down $5.75 on Friday, reaching $67.18. The company had a trading volume of 2,554,500 shares, compared to its average volume of 1,865,434. The company’s fifty day moving average is $64.03 and its 200 day moving average is $49.16. The company has a market cap of $9.17 billion, a P/E ratio of -231.66 and a beta of 1.71. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.19 and a current ratio of 2.41. Viasat Inc. has a 1 year low of $9.01 and a 1 year high of $89.79.

Analyst Ratings Changes

VSAT has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $97.00 price objective on shares of Viasat in a research report on Monday. Barclays set a $49.00 price target on shares of Viasat in a research note on Friday, May 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a research report on Monday, April 20th. B. Riley Financial upped their price objective on shares of Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Finally, New Street Research began coverage on shares of Viasat in a research note on Wednesday, May 13th. They issued a “buy” rating and a $100.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $77.13.

Institutional Trading of Viasat

A number of hedge funds have recently added to or reduced their stakes in the business. Brightline Capital Management LLC grew its holdings in Viasat by 1.8% in the third quarter. Brightline Capital Management LLC now owns 2,036,000 shares of the communications equipment provider’s stock valued at $59,655,000 after purchasing an additional 36,000 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Viasat in the 4th quarter valued at $830,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Viasat during the 3rd quarter valued at $4,230,000. Hudson Bay Capital Management LP acquired a new stake in shares of Viasat during the 3rd quarter worth $7,325,000. Finally, Legacy Capital Group California Inc. purchased a new position in shares of Viasat in the 3rd quarter worth $1,241,000. 86.05% of the stock is owned by institutional investors and hedge funds.

About Viasat

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.