Viasat (NASDAQ:VSAT) Share Price Crosses Below 200-Day Moving Average Following Insider Selling

Viasat Inc. (NASDAQ:VSAT) shares passed below its 200-day moving average during trading on Thursday following insider selling activity. The stock has a 200-day moving average of $64.15 and traded as low as $57.38. Viasat shares last traded at $59.38, with a volume of 4,284,651 shares trading hands.

Specifically, SVP Craig Miller sold 22,500 shares of the stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $70.19, for a total value of $1,579,275.00. Following the completion of the sale, the senior vice president owned 41,570 shares of the company’s stock, valued at $2,917,798.30. This represents a 35.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Morgan Stanley set a $95.00 price target on shares of Viasat in a report on Monday, August 10th. Zacks Research raised shares of Viasat from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Wall Street Zen cut Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a research report on Thursday, October 15th. Finally, Needham & Company LLC increased their price objective on Viasat from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Viasat presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.67.

Viasat News Summary

Here are the key news stories impacting Viasat this week:

• Positive Sentiment: Viasat reported an adjusted loss of $0.32 per share, narrower than analysts’ expected $0.42 loss. Revenue also increased 3.4% year over year. Earnings report
• Neutral Sentiment: Senior Vice President Craig Miller disclosed selling 22,500 shares for about $1.58 million, reducing his direct holding by 35.12%. The filing does not establish a reason for the sale. SEC filing
• Negative Sentiment: Fiscal Q2 revenue was $1.18 billion, below the $1.20 billion FactSet estimate, while the company’s net loss widened. The loss per share also compared unfavorably with earnings of $0.09 in the year-ago quarter, raising concerns despite the adjusted EPS beat. Viasat Q2 results Revenue estimate comparison

Viasat Stock Performance

The firm’s fifty day moving average is $69.95 and its 200-day moving average is $64.15. The company has a current ratio of 1.68, a quick ratio of 1.52 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $8.18 billion, a PE ratio of -247.42 and a beta of 1.76.

Viasat (NASDAQ:VSAT) last announced its earnings results on Thursday, November 5th. The communications equipment provider reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.10. Viasat had a negative net margin of 0.64% and a positive return on equity of 1.44%. During the same quarter last year, the firm earned $0.09 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. As a group, research analysts anticipate that Viasat Inc. will post -0.38 earnings per share for the current year.

Institutional Investors Weigh In On Viasat

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Maryland State Retirement & Pension System boosted its position in shares of Viasat by 55.7% during the 3rd quarter. Maryland State Retirement & Pension System now owns 30,764 shares of the communications equipment provider’s stock worth $2,165,000 after purchasing an additional 11,008 shares during the period. Parallel Advisors LLC grew its stake in Viasat by 169.3% during the 3rd quarter. Parallel Advisors LLC now owns 412 shares of the communications equipment provider’s stock worth $29,000 after purchasing an additional 259 shares in the last quarter. Kestra Advisory Services LLC increased its stake in shares of Viasat by 9.7% during the third quarter. Kestra Advisory Services LLC now owns 10,387 shares of the communications equipment provider’s stock worth $731,000 after buying an additional 922 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Viasat by 9.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 5,422 shares of the communications equipment provider’s stock valued at $382,000 after purchasing an additional 479 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its holdings in Viasat by 11.1% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 6,187 shares of the communications equipment provider’s stock worth $380,000 after buying an additional 617 shares during the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.

Viasat Company Profile

Viasat, Inc is a communications technology company that provides satellite-based connectivity and related services to commercial, government and consumer customers. The company’s offerings include high-speed broadband, satellite communications, network services and connectivity solutions designed for locations where terrestrial networks may be limited or unavailable.

Viasat serves the aviation, maritime, residential broadband, enterprise and government markets. Its services support in-flight internet for commercial and business aircraft, connectivity for ships and offshore operations, broadband access for homes and communities, and secure communications for government and defense customers.