Viasat (NASDAQ:VSAT) Director John Stenbit Sells 653 Shares of Stock

Viasat Inc. (NASDAQ:VSAT) Director John Stenbit sold 653 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total transaction of $46,846.22. Following the completion of the sale, the director owned 29,597 shares of the company’s stock, valued at $2,123,288.78. The trade was a 2.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Viasat Trading Down 7.9%

VSAT opened at $67.18 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.19 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $9.17 billion, a PE ratio of -231.66 and a beta of 1.71. Viasat Inc. has a 1-year low of $9.01 and a 1-year high of $89.79. The firm has a 50-day moving average price of $64.38 and a two-hundred day moving average price of $49.28.

Analyst Ratings Changes

Several research analysts have recently issued reports on VSAT shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $97.00 target price on shares of Viasat in a research note on Monday. Raymond James Financial set a $74.00 target price on shares of Viasat and gave the company an “outperform” rating in a research note on Friday, April 24th. New Street Research started coverage on shares of Viasat in a research note on Wednesday, May 13th. They issued a “buy” rating and a $100.00 target price on the stock. B. Riley Financial raised their target price 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, Barclays set a $49.00 target price on shares of Viasat in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.13.

Institutional Trading of Viasat

Hedge funds have recently bought and sold shares of the stock. Brightline Capital Management LLC raised its holdings in Viasat by 1.8% during the 3rd quarter. Brightline Capital Management LLC now owns 2,036,000 shares of the communications equipment provider’s stock worth $59,655,000 after buying an additional 36,000 shares during the period. Jefferies Financial Group Inc. acquired a new stake in Viasat during the 4th quarter worth approximately $830,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Viasat during the 3rd quarter worth approximately $4,230,000. Hudson Bay Capital Management LP acquired a new stake in Viasat during the 3rd quarter worth approximately $7,325,000. Finally, Legacy Capital Group California Inc. acquired a new stake in Viasat during the 3rd quarter worth approximately $1,241,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Viasat Company Profile

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.