Pure Financial Advisors LLC Makes New $707,000 Investment in Viasat Inc. $VSAT

Pure Financial Advisors LLC purchased a new stake in Viasat Inc. (NASDAQ:VSAT) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,875 shares of the communications equipment provider’s stock, valued at approximately $707,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Corient Private Wealth LP acquired a new stake in Viasat in the second quarter valued at approximately $18,210,000. Bank of America Corp DE acquired a new position in Viasat during the 2nd quarter valued at about $127,283,000. Magnolia Capital Advisors LLC purchased a new stake in Viasat in the second quarter valued at about $234,000. Gallagher Fiduciary Advisors LLC acquired a new stake in Viasat in the second quarter worth about $448,000. Finally, Odyssean LLC acquired a new stake in Viasat in the second quarter worth about $1,266,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Insider Buying and Selling

In other news, Director Richard A. Baldridge sold 223,542 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $80.62, for a total transaction of $18,021,956.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Garrett L. Chase sold 4,000 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $74.90, for a total transaction of $299,600.00. Following the transaction, the chief financial officer owned 26,239 shares of the company’s stock, valued at $1,965,301.10. This represents a 13.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 675,861 shares of company stock valued at $47,705,388 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Viasat Stock Performance

VSAT opened at $71.51 on Thursday. The stock has a market cap of $9.85 billion, a P/E ratio of -297.96 and a beta of 1.72. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.68 and a quick ratio of 1.52. The firm has a fifty day moving average price of $75.09 and a 200 day moving average price of $64.04. Viasat Inc. has a 1 year low of $26.10 and a 1 year high of $93.03.

Viasat (NASDAQ:VSAT) last issued its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). Viasat had a positive return on equity of 1.44% and a negative net margin of 0.64%.The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the company posted ($0.02) EPS. The company’s revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Viasat Inc. will post -0.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on VSAT shares. Needham & Company LLC upped their price objective on shares of Viasat from $90.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a report on Friday, July 17th. New Street Research assumed coverage on Viasat in a research note on Wednesday, May 13th. They issued a “buy” rating and a $100.00 price objective for the company. Morgan Stanley set a $95.00 target price on Viasat in a report on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $97.00 price target on shares of Viasat in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Viasat presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.67.

Viasat 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.