Viasat (NASDAQ:VSAT) SVP Craig Andrew Miller Sells 22,500 Shares of Stock

Viasat Inc. (NASDAQ:VSAT) SVP Craig Miller sold 22,500 shares of Viasat stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $70.19, for a total value of $1,579,275.00. Following the sale, the senior vice president directly owned 41,570 shares of the company’s stock, valued at approximately $2,917,798.30. This represents a 35.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Craig Andrew Miller also recently made the following trade(s):

• On Friday, October 9th, Craig Miller sold 11,893 shares of Viasat stock. The shares were sold at an average price of $71.61, for a total value of $851,657.73.

Viasat Stock Down 11.1%

Shares of VSAT stock opened at $59.38 on Friday. The stock’s 50-day simple moving average is $69.95 and its 200-day simple moving average is $64.15. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.52 and a current ratio of 1.68. The firm has a market capitalization of $8.18 billion, a PE ratio of -247.42 and a beta of 1.76. Viasat Inc. has a fifty-two week low of $29.13 and a fifty-two week high of $93.03.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings data on Thursday, November 5th. The communications equipment provider reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.10. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Viasat had a positive return on equity of 1.44% and a negative net margin of 0.64%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the business posted $0.09 earnings per share. Equities analysts expect that Viasat Inc. will post -0.38 earnings per share for the current year.

Institutional Trading of Viasat

Several hedge funds and other institutional investors have recently bought and sold shares of VSAT. BlackRock Inc. purchased a new stake in Viasat in the 2nd quarter worth $1,863,374,000. SummerHaven Investment Management LLC acquired a new position in Viasat during the third quarter worth $3,607,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Viasat during the second quarter worth $11,902,000. South Dakota Investment Council lifted its holdings in Viasat by 92.6% during the first quarter. South Dakota Investment Council now owns 336,056 shares of the communications equipment provider’s stock valued at $15,391,000 after purchasing an additional 161,552 shares in the last quarter. Finally, Everett Harris & Co. CA purchased a new position in Viasat during the second quarter valued at $5,423,000. 86.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Morgan Stanley set a $95.00 price objective on shares of Viasat in a research note on Monday, August 10th. Zacks Research upgraded shares of Viasat from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a report on Thursday, October 15th. Needham & Company LLC raised their target price on shares of Viasat from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen downgraded shares of Viasat from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. 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 issued a Sell rating to the stock. According to MarketBeat, Viasat has a consensus rating of “Moderate Buy” and a consensus target price of $90.67.

Key Viasat News

Here are the key news stories impacting Viasat this week:

• Positive Sentiment: Viasat reported an adjusted loss of $0.32 per share, narrower than analysts’ expected $0.42 loss. Revenue also increased 3.4% year over year. Earnings report
• Neutral Sentiment: Senior Vice President Craig Miller disclosed selling 22,500 shares for about $1.58 million, reducing his direct holding by 35.12%. The filing does not establish a reason for the sale. SEC filing
• Negative Sentiment: Fiscal Q2 revenue was $1.18 billion, below the $1.20 billion FactSet estimate, while the company’s net loss widened. The loss per share also compared unfavorably with earnings of $0.09 in the year-ago quarter, raising concerns despite the adjusted EPS beat. Viasat Q2 results Revenue estimate comparison

Viasat Company Profile

Viasat, Inc is a communications technology company that provides satellite-based connectivity and related services to commercial, government and consumer customers. The company’s offerings include high-speed broadband, satellite communications, network services and connectivity solutions designed for locations where terrestrial networks may be limited or unavailable.

Viasat serves the aviation, maritime, residential broadband, enterprise and government markets. Its services support in-flight internet for commercial and business aircraft, connectivity for ships and offshore operations, broadband access for homes and communities, and secure communications for government and defense customers.