Viasat (NASDAQ:VSAT) SVP Benjamin Edward Palmer Sells 2,400 Shares of Stock

Viasat Inc. (NASDAQ:VSAT) SVP Benjamin Edward Palmer sold 2,400 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.21, for a total transaction of $110,904.00. Following the completion of the transaction, the senior vice president owned 25,431 shares in the company, valued at $1,175,166.51. This represents a 8.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Viasat Price Performance

Shares of VSAT stock opened at $47.53 on Tuesday. The firm’s 50 day moving average price is $44.68 and its two-hundred day moving average price is $37.83. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.90 and a current ratio of 2.13. Viasat Inc. has a 52-week low of $7.36 and a 52-week high of $50.24. The stock has a market cap of $6.46 billion, a PE ratio of -18.35 and a beta of 1.44.

Wall Street Analyst Weigh In

A number of research firms recently commented on VSAT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft upgraded Viasat from a “hold” rating to a “buy” rating and boosted their target price for the stock from $36.00 to $48.00 in a research report on Friday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of Viasat in a research note on Wednesday, January 21st. Morgan Stanley set a $51.00 price target on shares of Viasat in a research report on Friday, January 16th. Finally, William Blair reissued an “outperform” rating on shares of Viasat in a research note on Tuesday, January 13th. Six investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.86.

Institutional Trading of Viasat

Several hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LLC bought a new stake in shares of Viasat during the fourth quarter worth $277,000. Virtue Capital Management LLC bought a new stake in Viasat in the 4th quarter valued at $211,000. Vident Advisory LLC lifted its position in Viasat by 23.2% in the 4th quarter. Vident Advisory LLC now owns 16,716 shares of the communications equipment provider’s stock valued at $576,000 after acquiring an additional 3,144 shares in the last quarter. State of Tennessee Department of Treasury boosted its stake in Viasat by 0.8% in the 4th quarter. State of Tennessee Department of Treasury now owns 46,952 shares of the communications equipment provider’s stock worth $1,618,000 after purchasing an additional 350 shares during the period. Finally, EP Wealth Advisors LLC bought a new position in Viasat during the 4th quarter worth about $279,000. 86.05% of the stock is currently 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.