Insider Selling: Viasat (NASDAQ:VSAT) CFO Sells $249,640.00 in Stock

Viasat Inc. (NASDAQ:VSAT) CFO Garrett Chase sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $62.41, for a total value of $249,640.00. Following the transaction, the chief financial officer owned 34,239 shares in the company, valued at $2,136,855.99. The trade was a 10.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Viasat Stock Up 3.3%

VSAT opened at $61.95 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.41 and a quick ratio of 2.19. The business has a 50 day simple moving average of $68.04 and a 200-day simple moving average of $52.52. The stock has a market capitalization of $8.46 billion, a P/E ratio of -213.62 and a beta of 1.71. Viasat Inc. has a 12 month low of $14.00 and a 12 month high of $89.79.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). Viasat had a negative net margin of 0.73% and a positive return on equity of 1.58%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the firm earned ($0.02) earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Viasat Inc. will post -0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on VSAT shares. New Street Research initiated coverage on shares of Viasat in a research note on Wednesday, May 13th. They set a “buy” rating and a $100.00 price target on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $97.00 price objective on shares of Viasat in a report on Monday, June 1st. Raymond James Financial set a $74.00 target price on shares of Viasat and gave the company an “outperform” rating in a report on Friday, April 24th. Barclays set a $49.00 price target on shares of Viasat in a research report on Friday, May 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.12.

Institutional Trading of Viasat

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Viasat by 8.2% in the third quarter. Vanguard Group Inc. now owns 16,962,958 shares of the communications equipment provider’s stock valued at $497,015,000 after purchasing an additional 1,289,024 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in Viasat by 15.8% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,845,100 shares of the communications equipment provider’s stock valued at $85,338,000 after buying an additional 796,349 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Viasat by 18.2% during the first quarter. Dimensional Fund Advisors LP now owns 4,789,539 shares of the communications equipment provider’s stock worth $219,346,000 after buying an additional 738,656 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Viasat by 38.5% in the third quarter. American Century Companies Inc. now owns 3,713,581 shares of the communications equipment provider’s stock worth $108,808,000 after acquiring an additional 1,033,194 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Viasat by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 3,328,854 shares of the communications equipment provider’s stock valued at $115,266,000 after acquiring an additional 273,369 shares in the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.

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.