Mitsubishi UFJ Asset Management Co. Ltd. Sells 182,900 Shares of Viasat Inc. $VSAT

Mitsubishi UFJ Asset Management Co. Ltd. reduced its stake in shares of Viasat Inc. (NASDAQ:VSAT) by 62.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,052 shares of the communications equipment provider’s stock after selling 182,900 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.08% of Viasat worth $4,217,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quent Capital LLC bought a new position in shares of Viasat during the third quarter valued at about $25,000. Hantz Financial Services Inc. grew its stake in shares of Viasat by 6,815.4% during the third quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock valued at $26,000 after buying an additional 886 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Viasat during the fourth quarter valued at about $36,000. Activest Wealth Management bought a new position in shares of Viasat during the third quarter valued at about $44,000. Finally, Danske Bank A S bought a new position in shares of Viasat during the fourth quarter valued at about $47,000. 86.05% of the stock is owned by institutional investors.

Viasat Stock Performance

Shares of VSAT opened at $73.07 on Tuesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.90. Viasat Inc. has a one year low of $8.61 and a one year high of $74.25. The company has a 50-day simple moving average of $54.12 and a two-hundred day simple moving average of $44.44. The firm has a market capitalization of $9.93 billion, a PE ratio of -28.21 and a beta of 1.66.

Insiders Place Their Bets

In other Viasat news, SVP Robert James Blair sold 30,411 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $47.04, for a total value of $1,430,533.44. Following the completion of the sale, the senior vice president directly owned 38,108 shares in the company, valued at $1,792,600.32. This trade represents a 44.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Craig Andrew Miller sold 5,260 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $50.00, for a total transaction of $263,000.00. Following the completion of the sale, the senior vice president owned 21,252 shares of the company’s stock, valued at $1,062,600. This trade represents a 19.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 38,071 shares of company stock worth $1,804,437 over the last three months. Company insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

VSAT has been the topic of a number of recent research reports. Needham & Company LLC raised their price objective on Viasat from $45.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, March 27th. Morgan Stanley set a $51.00 target price on Viasat in a research note on Friday, January 16th. Deutsche Bank Aktiengesellschaft raised Viasat from a “hold” rating to a “buy” rating and raised their target price for the stock from $36.00 to $48.00 in a research note on Friday, February 6th. Raymond James Financial set a $74.00 target price on Viasat and gave the stock an “outperform” rating in a research note on Friday, April 24th. Finally, Barclays raised Viasat from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $23.00 to $49.00 in a research note on Wednesday, April 8th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Viasat currently has an average rating of “Moderate Buy” and a consensus price target of $60.57.

About Viasat

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.