Benjamin Edward Palmer Sells 2,000 Shares of Viasat (NASDAQ:VSAT) Stock

Viasat Inc. (NASDAQ:VSAT) SVP Benjamin Palmer sold 2,000 shares of Viasat stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $66.75, for a total value of $133,500.00. Following the sale, the senior vice president directly owned 30,087 shares of the company’s stock, valued at approximately $2,008,307.25. The trade was a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Benjamin Edward Palmer also recently made the following trade(s):

• On Monday, August 3rd, Benjamin Palmer sold 2,400 shares of Viasat stock. The shares were sold at an average price of $75.46, for a total value of $181,104.00.

Viasat Stock Performance

VSAT stock traded up $1.80 during trading hours on Thursday, hitting $71.72. 1,759,755 shares of the stock were exchanged, compared to its average volume of 2,082,908. Viasat Inc. has a 12 month low of $26.10 and a 12 month high of $93.03. The company has a current ratio of 1.68, a quick ratio of 1.52 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $9.88 billion, a P/E ratio of -298.83 and a beta of 1.70. The company has a 50-day simple moving average of $75.58 and a two-hundred day simple moving average of $64.87.

Analysts Set New Price Targets

VSAT has been the topic of a number of recent research reports. 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. Barclays set a $49.00 target price on shares of Viasat in a research report on Friday, May 29th. Wall Street Zen cut shares of Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Oppenheimer began coverage on shares of Viasat in a research report on Monday, June 29th. They issued an “outperform” rating and a $140.00 price target for the company. Finally, Zacks Research upgraded Viasat from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Valued Wealth Advisors LLC bought a new stake in Viasat during the first quarter worth about $25,000. Aberdeen Wealth Management LLC acquired a new stake in Viasat during the second quarter worth about $30,000. Elevation Wealth Partners LLC increased its holdings in Viasat by 935.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider’s stock valued at $32,000 after buying an additional 318 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new position in Viasat in the 4th quarter valued at about $36,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Viasat in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 86.05% of the company’s stock.

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.