State of New Jersey Common Pension Fund D Purchases New Stake in Viasat Inc. $VSAT

State of New Jersey Common Pension Fund D acquired a new position in Viasat Inc. (NASDAQ:VSAT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 61,153 shares of the communications equipment provider’s stock, valued at approximately $2,107,000.

Other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC bought a new position in Viasat in the 3rd quarter worth $25,000. Hantz Financial Services Inc. raised its holdings in Viasat by 6,815.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock worth $26,000 after purchasing an additional 886 shares in the last quarter. Activest Wealth Management bought a new position in Viasat in the 3rd quarter worth $44,000. Larson Financial Group LLC raised its holdings in 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 purchasing an additional 2,214 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Viasat by 20.1% in the 4th quarter. GAMMA Investing LLC now owns 2,866 shares of the communications equipment provider’s stock worth $99,000 after purchasing an additional 479 shares in the last quarter. 86.05% of the stock is currently owned by institutional investors.

Viasat Stock Up 5.5%

NASDAQ:VSAT opened at $70.01 on Friday. The firm’s 50-day moving average price is $53.13 and its 200-day moving average price is $43.95. The company has a market capitalization of $9.51 billion, a PE ratio of -27.03 and a beta of 1.66. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.90. Viasat Inc. has a 1-year low of $8.61 and a 1-year high of $70.35.

Insider Activity at Viasat

In other news, SVP Benjamin Edward Palmer sold 2,400 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.21, for a total value of $110,904.00. Following the transaction, the senior vice president owned 25,431 shares in the company, valued at $1,175,166.51. This represents a 8.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Craig Andrew Miller sold 5,260 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $50.00, for a total transaction of $263,000.00. Following the completion of the transaction, the senior vice president owned 21,252 shares in the company, valued at $1,062,600. This trade represents a 19.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 38,071 shares of company stock valued at $1,804,437. 2.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on VSAT. Barclays upgraded shares of Viasat from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $23.00 to $49.00 in a report on Wednesday, April 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Viasat from a “hold” rating to a “buy” rating and upped their price objective for the stock from $36.00 to $48.00 in a report on Friday, February 6th. Raymond James Financial set a $74.00 price objective on shares of Viasat and gave the stock an “outperform” rating in a report on Friday, April 24th. Needham & Company LLC upped their price objective on shares of Viasat from $45.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Finally, B. Riley Financial upped their price objective on shares of Viasat from $52.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.57.

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.