South Dakota Investment Council Sells 290,191 Shares of Viasat Inc. $VSAT

South Dakota Investment Council decreased its holdings in shares of Viasat Inc. (NASDAQ:VSAT) by 57.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,504 shares of the communications equipment provider’s stock after selling 290,191 shares during the quarter. South Dakota Investment Council owned 0.16% of Viasat worth $6,226,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of VSAT. Royal Bank of Canada lifted its position in Viasat by 483.2% during the first quarter. Royal Bank of Canada now owns 109,448 shares of the communications equipment provider’s stock valued at $1,140,000 after purchasing an additional 90,680 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Viasat by 189.7% during the 1st quarter. AQR Capital Management LLC now owns 452,933 shares of the communications equipment provider’s stock worth $4,692,000 after acquiring an additional 296,612 shares during the last quarter. Millennium Management LLC grew its position in Viasat by 673.7% in the first quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider’s stock worth $14,443,000 after acquiring an additional 1,206,935 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Viasat by 64.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider’s stock worth $29,866,000 after acquiring an additional 1,128,338 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in Viasat by 6.9% in the first quarter. Empowered Funds LLC now owns 226,184 shares of the communications equipment provider’s stock valued at $2,357,000 after acquiring an additional 14,575 shares during the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Viasat

In related news, CEO Mark D. Dankberg sold 200,000 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $35.09, for a total transaction of $7,018,000.00. Following the sale, the chief executive officer 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Camellia E. Fitzgerald sold 2,810 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $48.00, for a total value of $134,880.00. Following the completion of the sale, the chief accounting officer directly owned 9,946 shares in the company, valued at approximately $477,408. This represents a 22.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 354,290 shares of company stock valued at $13,059,722 in the last three months. Company insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

VSAT has been the subject of a number of research reports. Raymond James Financial upgraded Viasat from a “market perform” rating to an “outperform” rating and set a $52.00 price objective for the company in a report on Monday, November 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of Viasat in a research note on Wednesday, January 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a research report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Viasat from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $36.00 to $48.00 in a report on Friday, February 6th. Finally, JPMorgan Chase & Co. raised shares of Viasat from a “neutral” rating to an “overweight” rating and increased their target price for the company from $23.00 to $50.00 in a report on Tuesday, November 11th. Six analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $45.86.

Viasat Stock Performance

Viasat stock opened at $45.82 on Wednesday. The firm has a market cap of $6.22 billion, a P/E ratio of -17.69 and a beta of 1.44. Viasat Inc. has a 1-year low of $7.36 and a 1-year high of $50.24. The firm has a 50-day moving average of $42.76 and a 200-day moving average of $36.72. The company has a current ratio of 2.13, a quick ratio of 1.90 and a debt-to-equity ratio of 1.35.

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.