Everett Harris & Co. CA Sells 95,507 Shares of Viasat Inc. $VSAT

Everett Harris & Co. CA lowered its position in Viasat Inc. (NASDAQ:VSAT) by 73.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 35,000 shares of the communications equipment provider’s stock after selling 95,507 shares during the quarter. Everett Harris & Co. CA’s holdings in Viasat were worth $1,026,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Activest Wealth Management bought a new stake in Viasat during the 3rd quarter valued at $44,000. New York State Common Retirement Fund increased its holdings in shares of Viasat by 9.9% in the third quarter. New York State Common Retirement Fund now owns 37,594 shares of the communications equipment provider’s stock worth $1,102,000 after purchasing an additional 3,381 shares during the period. Hussman Strategic Advisors Inc. purchased a new stake in shares of Viasat in the 3rd quarter valued at about $1,231,000. Mutual of America Capital Management LLC lifted its position in Viasat by 37.4% during the third quarter. Mutual of America Capital Management LLC now owns 15,040 shares of the communications equipment provider’s stock valued at $441,000 after purchasing an additional 4,093 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in shares of Viasat during the 3rd quarter worth $365,000. Institutional investors own 86.05% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Shawn Lynn Duffy sold 51,480 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $36.38, for a total transaction of $1,872,842.40. Following the transaction, the chief accounting officer directly owned 6,021 shares of the company’s stock, valued at approximately $219,043.98. The trade was a 89.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark D. Dankberg sold 200,000 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $35.09, for a total value of $7,018,000.00. Following the completion of the sale, the chief executive officer directly owned 1,534,993 shares of the company’s stock, valued at $53,862,904.37. The trade was a 11.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 356,529 shares of company stock worth $13,105,888 in the last quarter. 2.20% of the stock is currently owned by company insiders.

Viasat Stock Down 2.8%

Shares of NASDAQ VSAT opened at $46.23 on Friday. The firm’s fifty day moving average is $37.82 and its 200 day moving average is $32.32. Viasat Inc. has a 52 week low of $7.36 and a 52 week high of $49.68. The company has a quick ratio of 1.84, a current ratio of 2.08 and a debt-to-equity ratio of 1.43. The company has a market cap of $6.25 billion, a price-to-earnings ratio of -11.56 and a beta of 1.39.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings results on Saturday, November 8th. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.20. Viasat had a negative net margin of 11.40% and a negative return on equity of 3.65%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the company posted ($0.23) EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities research analysts expect that Viasat Inc. will post -0.54 earnings per share for the current year.

Analysts Set New Price Targets

VSAT has been the subject of several research analyst reports. JPMorgan Chase & Co. raised Viasat from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $23.00 to $50.00 in a research note on Tuesday, November 11th. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of Viasat in a research report on Wednesday, January 21st. Raymond James Financial raised shares of Viasat from a “market perform” rating to an “outperform” rating and set a $52.00 price target on the stock in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a research note on Wednesday, January 21st. Finally, Morgan Stanley set a $51.00 target price on shares of Viasat in a research report on Friday, January 16th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $41.29.

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.