Viasat (NASDAQ:VSAT) Director John Stenbit Sells 653 Shares

Viasat Inc. (NASDAQ:VSAT) Director John Stenbit sold 653 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $71.74, for a total value of $46,846.22. Following the sale, the director owned 29,597 shares of the company’s stock, valued at approximately $2,123,288.78. This represents a 2.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Viasat Price Performance

Shares of VSAT stock traded down $5.75 on Friday, hitting $67.18. 2,554,589 shares of the company’s stock were exchanged, compared to its average volume of 1,865,434. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.41 and a quick ratio of 2.19. Viasat Inc. has a 12 month low of $9.01 and a 12 month high of $89.79. The stock has a market cap of $9.17 billion, a P/E ratio of -231.66 and a beta of 1.71. The company has a 50 day moving average of $64.03 and a 200 day moving average of $49.16.

Institutional Investors Weigh In On Viasat

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BankChampaign National Association acquired a new stake in shares of Viasat in the first quarter valued at about $437,000. Edgestream Partners L.P. increased its stake in shares of Viasat by 88.4% in the first quarter. Edgestream Partners L.P. now owns 29,825 shares of the communications equipment provider’s stock valued at $1,366,000 after buying an additional 13,998 shares during the period. Janus Henderson Group PLC increased its stake in shares of Viasat by 11.4% in the first quarter. Janus Henderson Group PLC now owns 52,637 shares of the communications equipment provider’s stock valued at $2,412,000 after buying an additional 5,400 shares during the period. South Dakota Investment Council increased its stake in shares of Viasat by 92.6% in the first quarter. South Dakota Investment Council now owns 336,056 shares of the communications equipment provider’s stock valued at $15,391,000 after buying an additional 161,552 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Viasat by 78.1% during the first quarter. EverSource Wealth Advisors LLC now owns 4,026 shares of the communications equipment provider’s stock worth $184,000 after purchasing an additional 1,766 shares during the period. Institutional investors and hedge funds own 86.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research report on Monday, April 20th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $97.00 price objective on shares of Viasat in a research report on Monday. Raymond James Financial set a $74.00 target price on Viasat and gave the company an “outperform” rating in a research report on Friday, April 24th. Needham & Company LLC increased their target price on Viasat from $58.00 to $90.00 and gave the company a “buy” rating in a research report on Monday. Finally, New Street Research assumed coverage on Viasat in a research report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Viasat currently has a consensus rating of “Moderate Buy” and an average target price of $77.13.

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.