Viasat Inc. $VSAT Position Lifted by Erste Asset Management GmbH

Erste Asset Management GmbH raised its stake in shares of Viasat Inc. (NASDAQ:VSAT) by 362.8% during the fourth quarter, HoldingsChannel reports. The fund owned 38,013 shares of the communications equipment provider’s stock after acquiring an additional 29,800 shares during the quarter. Erste Asset Management GmbH’s holdings in Viasat were worth $1,318,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its stake in Viasat by 6,815.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock valued at $26,000 after acquiring an additional 886 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Viasat during the 4th quarter valued at $36,000. Los Angeles Capital Management LLC bought a new position in Viasat during the 4th quarter valued at $38,000. Danske Bank A S bought a new position in shares of Viasat in the 4th quarter worth about $47,000. Finally, Larson Financial Group LLC lifted its position in shares of Viasat by 7,380.0% in the 3rd quarter. Larson Financial Group LLC now owns 2,244 shares of the communications equipment provider’s stock worth $66,000 after buying an additional 2,214 shares during the last quarter. 86.05% of the stock is currently owned by institutional investors.

Viasat Stock Down 3.8%

VSAT stock opened at $61.50 on Thursday. The company has a quick ratio of 2.19, a current ratio of 2.41 and a debt-to-equity ratio of 1.35. Viasat Inc. has a fifty-two week low of $10.31 and a fifty-two week high of $89.79. The firm’s 50-day simple moving average is $65.43 and its 200 day simple moving average is $50.03. The stock has a market cap of $8.40 billion, a PE ratio of -212.07 and a beta of 1.71.

Insiders Place Their Bets

In related news, Director Theresa Wise sold 2,500 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $69.00, for a total value of $172,500.00. Following the sale, the director owned 11,000 shares of the company’s stock, valued at $759,000. This trade represents a 18.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John P. Stenbit sold 653 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $71.74, for a total transaction of $46,846.22. Following the completion of the sale, the director directly owned 29,597 shares in the company, valued at approximately $2,123,288.78. This trade represents a 2.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 469,946 shares of company stock worth $30,052,612. 2.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

VSAT has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research report on Monday, April 20th. B. Riley Financial raised their price target on shares of Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Needham & Company LLC raised their price target on shares of Viasat from $58.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. New Street Research initiated coverage on shares of Viasat in a research report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $97.00 price target on shares of Viasat in a research report on Monday, June 1st. One investment 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.13.

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.