Principal Financial Group Inc. Buys 15,464 Shares of Viasat Inc. $VSAT

Principal Financial Group Inc. raised its stake in Viasat Inc. (NASDAQ:VSAT) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 659,634 shares of the communications equipment provider’s stock after acquiring an additional 15,464 shares during the period. Principal Financial Group Inc.’s holdings in Viasat were worth $30,211,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of VSAT. Valued Wealth Advisors LLC purchased a new position in shares of Viasat in the 1st quarter worth about $25,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Viasat during the 4th quarter valued at about $36,000. Los Angeles Capital Management LLC bought a new stake in Viasat during the 4th quarter valued at about $38,000. EFG International AG purchased a new position in Viasat in the fourth quarter worth about $41,000. Finally, Danske Bank A S purchased a new position in Viasat in the fourth quarter worth about $47,000. 86.05% of the stock is currently owned by institutional investors.

Viasat Price Performance

NASDAQ VSAT opened at $71.48 on Monday. The business’s fifty day moving average price is $71.94 and its 200-day moving average price is $56.97. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of -246.48 and a beta of 1.70. 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 1-year low of $14.00 and a 1-year high of $93.03.

Viasat (NASDAQ:VSAT) last issued its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS 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 the consensus estimate 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 was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.02) EPS. On average, equities analysts predict that Viasat Inc. will post -0.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Richard A. Baldridge sold 27,122 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were 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 in the company, valued at $15,306,087.70. This represents a 11.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John P. Stenbit sold 653 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $71.74, for a total transaction of $46,846.22. Following the completion of the transaction, the director directly owned 29,597 shares in the company, valued at approximately $2,123,288.78. The trade was a 2.16% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 438,803 shares of company stock valued at $28,655,600. 2.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

VSAT has been the subject of several analyst reports. Needham & Company LLC raised their price target on shares of Viasat from $58.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Oppenheimer initiated coverage on Viasat in a report on Monday, June 29th. They issued an “outperform” rating and a $140.00 target price for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $97.00 price target on shares of Viasat in a report on Monday, June 1st. New Street Research started coverage on Viasat in a report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 price objective for the company. Finally, B. Riley Financial upped their target price on shares of Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.11.

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.