Viasat (NASDAQ:VSAT) CFO Garrett Chase Sells 4,000 Shares

Viasat Inc. (NASDAQ:VSAT) CFO Garrett Chase sold 4,000 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $62.41, for a total transaction of $249,640.00. Following the completion of the transaction, the chief financial officer directly owned 34,239 shares in the company, valued at $2,136,855.99. This trade represents a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Viasat Price Performance

VSAT opened at $62.23 on Thursday. The stock has a fifty day moving average price of $67.94 and a 200 day moving average price of $52.28. The company has a current ratio of 2.41, a quick ratio of 2.19 and a debt-to-equity ratio of 1.35. Viasat Inc. has a 1 year low of $13.04 and a 1 year high of $89.79. The stock has a market cap of $8.50 billion, a price-to-earnings ratio of -214.57 and a beta of 1.71.

Viasat (NASDAQ:VSAT) last issued 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). The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.20 billion. Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.02) earnings per share. Analysts forecast that Viasat Inc. will post -0.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of VSAT. Royal Bank of Canada lifted its position in Viasat by 483.2% during the 1st quarter. Royal Bank of Canada now owns 109,448 shares of the communications equipment provider’s stock worth $1,140,000 after acquiring an additional 90,680 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Viasat by 189.7% in the first quarter. AQR Capital Management LLC now owns 452,933 shares of the communications equipment provider’s stock valued at $4,692,000 after purchasing an additional 296,612 shares during the last quarter. Millennium Management LLC grew its position in shares of Viasat by 673.7% in the first quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider’s stock valued at $14,443,000 after purchasing an additional 1,206,935 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Viasat by 64.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider’s stock worth $29,866,000 after purchasing an additional 1,128,338 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of Viasat by 6.9% in the first quarter. Empowered Funds LLC now owns 226,184 shares of the communications equipment provider’s stock worth $2,357,000 after purchasing an additional 14,575 shares during the period. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $97.00 price objective on shares of Viasat in a research report on Monday, June 1st. Needham & Company LLC increased their price target on shares of Viasat from $58.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. B. Riley Financial raised their price target on shares of Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a report on Friday, May 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a research note on Monday, April 20th. Finally, Barclays set a $49.00 price objective on shares of Viasat in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.12.

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.