Viasat (NASDAQ:VSAT) Director Sells $1,945,732.28 in Stock

Viasat Inc. (NASDAQ:VSAT) Director Richard Baldridge sold 27,122 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 value of $1,945,732.28. Following the transaction, the director owned 213,355 shares of the company’s stock, valued at approximately $15,306,087.70. This trade represents a 11.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Viasat Price Performance

Shares of NASDAQ VSAT opened at $67.18 on Monday. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of -231.66 and a beta of 1.70. The business has a 50-day moving average of $64.38 and a 200-day moving average of $49.40. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.41 and a quick ratio of 2.19. Viasat Inc. has a fifty-two week low of $9.01 and a fifty-two week high of $89.79.

Institutional Investors Weigh In On Viasat

Several hedge funds have recently bought and sold shares of the stock. BankChampaign National Association acquired a new stake in Viasat during the first quarter worth approximately $437,000. Edgestream Partners L.P. lifted its position in Viasat by 88.4% during the first quarter. Edgestream Partners L.P. now owns 29,825 shares of the communications equipment provider’s stock worth $1,366,000 after acquiring an additional 13,998 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Viasat by 11.4% in the first quarter. Janus Henderson Group PLC now owns 52,637 shares of the communications equipment provider’s stock valued at $2,412,000 after buying an additional 5,400 shares in the last quarter. South Dakota Investment Council raised its position in shares of Viasat by 92.6% in 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 buying an additional 161,552 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Viasat by 78.1% in the first quarter. EverSource Wealth Advisors LLC now owns 4,026 shares of the communications equipment provider’s stock valued at $184,000 after buying an additional 1,766 shares in the last quarter. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VSAT. Raymond James Financial set a $74.00 price objective on Viasat and gave the company an “outperform” rating in a report on Friday, April 24th. New Street Research began coverage on Viasat in a report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 price objective for the company. Barclays set a $49.00 price objective on Viasat in a report on Friday, May 29th. Needham & Company LLC raised their price objective on Viasat from $58.00 to $90.00 and gave the company a “buy” rating in a report on Monday, June 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Viasat currently has a consensus rating of “Moderate Buy” and an average price target of $77.13.

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.