Viasat (NASDAQ:VSAT) Stock: Insider Garrett Chase Sells 4,000 Shares

Viasat Inc. (NASDAQ:VSAT) CFO Garrett Chase sold 4,000 shares of Viasat stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $76.91, for a total value of $307,640.00. Following the completion of the transaction, the chief financial officer directly owned 51,534 shares in the company, valued at approximately $3,963,479.94. This represents a 7.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Viasat Stock Up 0.1%

Shares of VSAT opened at $73.72 on Friday. The company has a 50-day simple moving average of $75.34 and a 200-day simple moving average of $67.95. The firm has a market capitalization of $10.16 billion, a P/E ratio of -307.17 and a beta of 1.70. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.52 and a current ratio of 1.68. Viasat Inc. has a 52 week low of $26.10 and a 52 week high of $93.03.

Hedge Funds Weigh In On Viasat

Hedge funds and other institutional investors have recently bought and sold shares of the business. Valued Wealth Advisors LLC bought a new stake in shares of Viasat in the first quarter worth about $25,000. Aberdeen Wealth Management LLC bought a new position in shares of Viasat during the 2nd quarter valued at about $30,000. Elevation Wealth Partners LLC grew its position in shares of Viasat by 935.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider’s stock valued at $32,000 after purchasing an additional 318 shares during the period. Bullseye Investment Management LLC acquired a new position in shares of Viasat in the 2nd quarter valued at approximately $37,000. Finally, Rakuten Securities Inc. bought a new stake in Viasat during the 2nd quarter worth approximately $43,000. 86.05% of the stock is owned by institutional investors.

Viasat News Summary

Here are the key news stories impacting Viasat this week:

• Positive Sentiment: Viasat won an initial $42 million task order under a U.S. Marine Corps enterprise services contract with a potential ceiling of $307 million. The company will provide integrated, multi-network and multi-orbit connectivity, strengthening its government and defense business and creating an opportunity for additional task orders. Viasat Marine Corps contract announcement
• Positive Sentiment: ViaSat-3 F2 entered service across the Americas, completing Viasat’s three-satellite constellation. Management says the deployment has tripled bandwidth across the global fleet, potentially enabling higher sales and utilization if the company can convert the added capacity into revenue and cash flow. Viasat satellite capacity article
• Neutral Sentiment: Reported short interest was listed at zero shares, implying no measurable days-to-cover. While this could indicate limited bearish positioning, the unusual figure may reflect a reporting or data issue and is unlikely to be a meaningful trading signal by itself. Viasat short interest data
• Negative Sentiment: CFO Garrett Chase sold 4,000 shares for approximately $307,640 at an average price of $76.91. He retained 51,534 shares, but the 7.2% reduction in his direct holdings could modestly weigh on sentiment. SEC insider transaction filing

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VSAT. Morgan Stanley set a $95.00 target price on shares of Viasat in a report on Monday, August 10th. Needham & Company LLC boosted their price target on shares of Viasat from $90.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Oppenheimer assumed coverage on shares of Viasat in a report on Monday, June 29th. They set an “outperform” rating and a $140.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a research note on Friday, July 17th. Finally, Barclays set a $49.00 target price on Viasat in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.67.

About Viasat

Viasat, Inc is a communications company that provides satellite-based connectivity and related services to consumers, businesses, governments and other organizations. The company develops and operates satellite networks, ground infrastructure and connectivity systems designed to deliver broadband, communications and data services in locations where terrestrial networks may be limited.

Viasat’s offerings include residential and community internet access, in-flight connectivity for commercial and business aviation, maritime communications, and connectivity solutions for government and defense customers.