Viasat (NASDAQ:VSAT) Director Sells $211,725.00 in Stock

Viasat Inc. (NASDAQ:VSAT) Director Theresa Wise sold 2,500 shares of Viasat stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $84.69, for a total value of $211,725.00. Following the completion of the transaction, the director directly owned 11,000 shares in the company, valued at $931,590. This trade represents a 18.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Theresa Wise also recently made the following trade(s):

• On Monday, June 8th, Theresa Wise sold 2,500 shares of Viasat stock. The shares were sold at an average price of $69.00, for a total value of $172,500.00.

Viasat Price Performance

Shares of NASDAQ:VSAT opened at $80.38 on Friday. The company has a market capitalization of $11.07 billion, a PE ratio of -334.92 and a beta of 1.72. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.68 and a quick ratio of 2.19. Viasat Inc. has a 1-year low of $24.95 and a 1-year high of $93.03. The business has a fifty day moving average price of $72.29 and a 200-day moving average price of $60.71.

Viasat (NASDAQ:VSAT) last released its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.34). Viasat had a negative net margin of 0.64% and a positive return on equity of 1.44%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the firm posted ($0.02) earnings per share. Viasat’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts expect that Viasat Inc. will post -0.28 EPS for the current fiscal year.

Analysts Set New Price Targets

VSAT has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a research report on Friday, July 17th. Wall Street Zen downgraded shares of Viasat from a “hold” rating to a “sell” rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $97.00 price objective on shares of Viasat in a report on Monday, June 1st. Barclays set a $49.00 target price on Viasat in a research note on Friday, May 29th. Finally, Oppenheimer initiated coverage on Viasat in a report on Monday, June 29th. They issued an “outperform” rating and a $140.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.78.

Institutional Investors Weigh In On Viasat

A number of hedge funds have recently modified their holdings of VSAT. Valued Wealth Advisors LLC purchased a new position in Viasat during the first quarter worth approximately $25,000. Elevation Wealth Partners LLC increased its stake in shares of 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 acquiring an additional 318 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Viasat in the 4th quarter worth $36,000. Los Angeles Capital Management LLC purchased a new position in shares of Viasat during the 4th quarter worth $38,000. Finally, EFG International AG acquired a new position in shares of Viasat during the 4th quarter valued at about $41,000. 86.05% of the stock is currently 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.