Florida Financial Advisors LLC Acquires New Holdings in Viasat Inc. $VSAT

Florida Financial Advisors LLC acquired a new stake in shares of Viasat Inc. (NASDAQ:VSAT) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 20,156 shares of the communications equipment provider’s stock, valued at approximately $694,000.

Several other institutional investors also recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Viasat by 3.7% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 210,688 shares of the communications equipment provider’s stock valued at $7,260,000 after buying an additional 7,530 shares during the period. Norges Bank purchased a new stake in shares of Viasat during the 4th quarter worth $3,673,000. Thoroughbred Financial Services LLC purchased a new stake in shares of Viasat during the 4th quarter worth $329,000. Geode Capital Management LLC lifted its stake in shares of Viasat by 8.9% during the 4th quarter. Geode Capital Management LLC now owns 3,328,854 shares of the communications equipment provider’s stock worth $115,266,000 after purchasing an additional 273,369 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Viasat by 0.5% during the 4th quarter. Legal & General Group Plc now owns 530,859 shares of the communications equipment provider’s stock worth $18,293,000 after purchasing an additional 2,570 shares during the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.

Viasat Trading Down 9.6%

Shares of NASDAQ:VSAT opened at $72.86 on Tuesday. Viasat Inc. has a 52-week low of $8.61 and a 52-week high of $89.79. The stock has a market cap of $9.90 billion, a price-to-earnings ratio of -251.24 and a beta of 1.70. The company has a quick ratio of 2.19, a current ratio of 2.41 and a debt-to-equity ratio of 1.35. The business has a 50-day moving average price of $62.60 and a 200-day moving average price of $48.41.

Insider Transactions at Viasat

In other news, SVP Robert James Blair sold 30,411 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $47.04, for a total value of $1,430,533.44. Following the completion of the transaction, the senior vice president directly owned 38,108 shares in the company, valued at $1,792,600.32. This trade represents a 44.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Craig Andrew Miller sold 5,260 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $50.00, for a total value of $263,000.00. Following the completion of the transaction, the senior vice president owned 21,252 shares of the company’s stock, valued at approximately $1,062,600. The trade was a 19.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 38,071 shares of company stock worth $1,804,437 over the last three months. 2.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VSAT. Raymond James Financial set a $74.00 price objective on Viasat and gave the stock an “outperform” rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $97.00 price objective on shares of Viasat in a research note on Monday. New Street Research began coverage on Viasat in a research note on Wednesday, May 13th. They set a “buy” rating and a $100.00 price objective for the company. Needham & Company LLC upped their price objective on Viasat from $58.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday. Finally, B. Riley Financial upped their price objective on Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.13.

Viasat 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.