ViaSat, Inc. (VSAT) Shares Bought by Wells Fargo & Company MN
Wells Fargo & Company MN increased its holdings in shares of ViaSat, Inc. (NASDAQ:VSAT) by 46.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,591 shares of the communications equipment provider’s stock after acquiring an additional 27,545 shares during the period. Wells Fargo & Company MN owned about 0.15% of ViaSat worth $5,732,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in ViaSat by 10.9% during the 1st quarter. Geode Capital Management LLC now owns 437,084 shares of the communications equipment provider’s stock worth $27,894,000 after acquiring an additional 42,961 shares during the last quarter. Legal & General Group Plc lifted its holdings in ViaSat by 26.6% during the 1st quarter. Legal & General Group Plc now owns 35,347 shares of the communications equipment provider’s stock worth $2,254,000 after buying an additional 7,428 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in ViaSat by 25.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 28,696 shares of the communications equipment provider’s stock worth $1,831,000 after buying an additional 5,878 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in ViaSat by 123.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 26,641 shares of the communications equipment provider’s stock worth $1,764,000 after buying an additional 14,694 shares in the last quarter. Finally, Comerica Bank lifted its holdings in ViaSat by 27.5% during the 2nd quarter. Comerica Bank now owns 52,615 shares of the communications equipment provider’s stock worth $3,471,000 after buying an additional 11,334 shares in the last quarter. Institutional investors and hedge funds own 99.42% of the company’s stock.
In related news, Director John P. Stenbit sold 700 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $66.20, for a total value of $46,340.00. Following the sale, the director now owns 8,700 shares of the company’s stock, valued at $575,940. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Bruce Leroy Dirks acquired 1,000 shares of ViaSat stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $59.78 per share, for a total transaction of $59,780.00. The disclosure for this purchase can be found here. In the last three months, insiders sold 177,350 shares of company stock worth $11,128,257. 7.70% of the stock is currently owned by insiders.
Several research analysts have issued reports on VSAT shares. B. Riley set a $89.00 price objective on ViaSat and gave the stock a “buy” rating in a report on Wednesday, June 14th. BidaskClub downgraded ViaSat from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. Barclays PLC reaffirmed an “equal weight” rating and set a $80.00 price objective (down previously from $82.00) on shares of ViaSat in a report on Monday, July 10th. TheStreet downgraded ViaSat from a “b-” rating to a “c” rating in a report on Wednesday, August 9th. Finally, Zacks Investment Research downgraded ViaSat from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $73.70.
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ViaSat, Inc. (NASDAQ:VSAT) opened at 65.00 on Wednesday. The firm has a market cap of $3.77 billion, a P/E ratio of 281.39 and a beta of 0.71. ViaSat, Inc. has a 1-year low of $57.75 and a 1-year high of $82.19. The stock has a 50 day moving average price of $62.70 and a 200-day moving average price of $64.50.
ViaSat (NASDAQ:VSAT) last issued its quarterly earnings data on Tuesday, August 8th. The communications equipment provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). ViaSat had a return on equity of 1.21% and a net margin of 0.82%. The business had revenue of $380.00 million during the quarter, compared to the consensus estimate of $384.29 million. During the same period in the prior year, the firm earned $0.23 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts forecast that ViaSat, Inc. will post $0.05 EPS for the current year.
ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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