Insider Selling: Viasat (NASDAQ:VSAT) Director Sells $46,483.36 in Stock

Viasat Inc. (NASDAQ:VSAT) Director John Stenbit sold 616 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $75.46, for a total transaction of $46,483.36. Following the sale, the director directly owned 634 shares of the company’s stock, valued at $47,841.64. This trade represents a 49.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Viasat Stock Performance

VSAT stock opened at $80.38 on Friday. The stock’s 50 day simple moving average is $72.29 and its 200 day simple moving average is $60.71. The company has a current ratio of 1.68, a quick ratio of 2.19 and a debt-to-equity ratio of 1.23. Viasat Inc. has a 12-month low of $24.95 and a 12-month high of $93.03. The stock has a market capitalization of $11.07 billion, a PE ratio of -334.92 and a beta of 1.72.

Viasat (NASDAQ:VSAT) last posted its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). The business 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 1.44% and a negative net margin of 0.64%.The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.02) EPS. As a group, research analysts forecast that Viasat Inc. will post -0.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VSAT has been the topic of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research note on Friday, July 17th. Needham & Company LLC lifted their price target on shares of Viasat from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $97.00 price objective on shares of Viasat in a report on Monday, June 1st. Oppenheimer began coverage on shares of Viasat in a research report on Monday, June 29th. They set an “outperform” rating and a $140.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Viasat from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Viasat presently has a consensus rating of “Moderate Buy” and an average target price of $85.78.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc increased its holdings in shares of Viasat by 4.4% in the 2nd quarter. Versant Capital Management Inc now owns 4,940 shares of the communications equipment provider’s stock worth $444,000 after buying an additional 207 shares during the last quarter. Cetera Investment Advisers grew its position in Viasat by 2.6% in the first quarter. Cetera Investment Advisers now owns 8,605 shares of the communications equipment provider’s stock worth $394,000 after acquiring an additional 217 shares in the last quarter. Elevation Wealth Partners LLC grew its position in Viasat by 935.3% in the second quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider’s stock worth $32,000 after acquiring an additional 318 shares in the last quarter. Vise Technologies Inc. increased its stake in Viasat by 4.8% during the fourth quarter. Vise Technologies Inc. now owns 7,446 shares of the communications equipment provider’s stock worth $257,000 after acquiring an additional 342 shares during the last quarter. Finally, CWM LLC raised its position in Viasat by 1.8% during the fourth quarter. CWM LLC now owns 19,360 shares of the communications equipment provider’s stock valued at $667,000 after purchasing an additional 349 shares during the period. 86.05% of the stock is owned by hedge funds and other 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.