Tidal Investments LLC Acquires 964,966 Shares of Viasat Inc. $VSAT

Tidal Investments LLC lifted its holdings in Viasat Inc. (NASDAQ:VSAT) by 8,261.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 976,646 shares of the communications equipment provider’s stock after purchasing an additional 964,966 shares during the period. Tidal Investments LLC’s holdings in Viasat were worth $87,713,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VSAT. Engineers Gate Manager LP purchased a new position in Viasat during the second quarter valued at approximately $281,000. Integrated Wealth Concepts LLC lifted its holdings in Viasat by 74.1% during the second quarter. Integrated Wealth Concepts LLC now owns 10,951 shares of the communications equipment provider’s stock worth $984,000 after buying an additional 4,660 shares during the period. Allworth Financial LP boosted its position in Viasat by 63.5% during the 2nd quarter. Allworth Financial LP now owns 1,210 shares of the communications equipment provider’s stock valued at $109,000 after acquiring an additional 470 shares in the last quarter. Arizona State Retirement System boosted its position in Viasat by 0.9% during the 2nd quarter. Arizona State Retirement System now owns 31,858 shares of the communications equipment provider’s stock valued at $2,861,000 after acquiring an additional 278 shares in the last quarter. Finally, Nykredit A S purchased a new position in shares of Viasat in the 2nd quarter valued at $333,000. 86.05% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Theresa Wise sold 2,500 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $84.69, for a total value of $211,725.00. Following the transaction, the director directly owned 11,000 shares of the company’s stock, valued at approximately $931,590. This represents a 18.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Stenbit sold 705 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $66.75, for a total transaction of $47,058.75. Following the completion of the transaction, the director owned 545 shares in the company, valued at approximately $36,378.75. This trade represents a 56.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 244,291 shares of company stock valued at $19,526,868. 1.40% of the stock is owned by corporate insiders.

Viasat Stock Down 6.9%

Viasat stock opened at $72.36 on Thursday. Viasat Inc. has a 1-year low of $26.10 and a 1-year high of $93.03. The business has a fifty day moving average price of $75.60 and a 200-day moving average price of $65.84. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.68 and a quick ratio of 1.52. The stock has a market capitalization of $9.97 billion, a price-to-earnings ratio of -301.50 and a beta of 1.70.

Analysts Set New Price Targets

VSAT has been the subject of several recent research reports. Morgan Stanley set a $95.00 price target on Viasat in a research report on Monday, August 10th. Zacks Research raised Viasat from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. B. Riley Financial lifted their target price on Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Needham & Company LLC boosted their target price on shares of Viasat from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen cut shares of Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.67.

About Viasat

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.