John Stenbit Sells 528 Shares of Viasat (NASDAQ:VSAT) Stock

Viasat Inc. (NASDAQ:VSAT) Director John Stenbit sold 528 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $88.79, for a total value of $46,881.12. Following the transaction, the director owned 722 shares of the company’s stock, valued at approximately $64,106.38. This represents a 42.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Viasat Stock Performance

NASDAQ:VSAT opened at $76.72 on Wednesday. The company has a quick ratio of 2.19, a current ratio of 2.41 and a debt-to-equity ratio of 1.35. The firm’s fifty day simple moving average is $70.80 and its 200 day simple moving average is $54.93. The stock has a market cap of $10.48 billion, a P/E ratio of -264.55 and a beta of 1.70. Viasat Inc. has a twelve month low of $14.00 and a twelve month high of $93.03.

Viasat (NASDAQ:VSAT) last issued its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.34). The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.20 billion. Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.02) earnings per share. As a group, research analysts predict that Viasat Inc. will post -0.39 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a research report on Monday, April 20th. Needham & Company LLC raised 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. Zacks Research lowered Viasat from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 30th. Barclays set a $49.00 price objective on Viasat in a report on Friday, May 29th. Finally, Oppenheimer began coverage on Viasat in a research report on Monday, June 29th. They set an “outperform” rating and a $140.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Viasat currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.11.

Institutional Trading of Viasat

A number of hedge funds have recently made changes to their positions in the stock. Valued Wealth Advisors LLC bought a new position in Viasat during the 1st quarter valued at approximately $25,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Viasat in the fourth quarter worth $36,000. Los Angeles Capital Management LLC purchased a new stake in shares of Viasat in the fourth quarter worth $38,000. EFG International AG bought a new position in shares of Viasat during the fourth quarter valued at $41,000. Finally, Danske Bank A S purchased a new position in shares of Viasat in the 4th quarter worth about $47,000. 86.05% of the stock is owned by institutional investors.

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.