Viasat (NASDAQ:VSAT) Shares Down 5.6% Following Insider Selling

Shares of Viasat Inc. (NASDAQ:VSAT) traded down 5.6% during trading on Monday following insider selling activity. The company traded as low as $63.12 and last traded at $63.44. 577,843 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 1,850,915 shares. The stock had previously closed at $67.18.

Specifically, CFO Garrett L. Chase sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $72.50, for a total value of $290,000.00. Following the completion of the sale, the chief financial officer directly owned 38,239 shares in the company, valued at approximately $2,772,327.50. The trade was a 9.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John P. Stenbit sold 653 shares of the company’s 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 $46,846.22. Following the sale, the director directly owned 29,597 shares in the company, valued at approximately $2,123,288.78. This represents a 2.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In related news, Director Richard A. Baldridge sold 27,122 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $71.74, for a total transaction of $1,945,732.28. Following the transaction, the director directly owned 213,355 shares in the company, valued at $15,306,087.70. This trade represents a 11.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analyst Weigh In

VSAT has been the topic of a number of research reports. New Street Research started coverage on shares of Viasat in a report on Wednesday, May 13th. They set a “buy” rating and a $100.00 target price on the stock. B. Riley Financial lifted their price target on shares of Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a report on Friday, May 29th. Barclays set a $49.00 price objective on shares of Viasat in a research report on Friday, May 29th. Raymond James Financial set a $74.00 target price on shares of Viasat and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Needham & Company LLC lifted their target price on Viasat from $58.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.13.

Viasat Trading Down 4.3%

The firm’s fifty day moving average price is $64.38 and its 200-day moving average price is $49.40. The company has a market cap of $8.78 billion, a price-to-earnings ratio of -221.66 and a beta of 1.71. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.41 and a quick ratio of 2.19.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Valued Wealth Advisors LLC bought a new stake in shares of Viasat during the first quarter valued at approximately $25,000. Hantz Financial Services Inc. grew its holdings in Viasat by 6,815.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock worth $26,000 after buying an additional 886 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Viasat in the 4th quarter worth approximately $36,000. Los Angeles Capital Management LLC acquired a new stake in Viasat in the 4th quarter valued at approximately $38,000. Finally, EFG International AG acquired a new stake in Viasat in the 4th quarter valued at approximately $41,000. 86.05% of the stock is owned by institutional investors and hedge funds.

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.