Viasat (NASDAQ:VSAT) Director Sells $18,021,956.04 in Stock

Viasat Inc. (NASDAQ:VSAT) Director Richard Baldridge sold 223,542 shares of the firm’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Viasat Price Performance

VSAT stock opened at $82.90 on Friday. 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 business has a 50 day simple moving average of $73.32 and a 200-day simple moving average of $61.99. The firm has a market capitalization of $11.42 billion, a PE ratio of -345.42 and a beta of 1.72. Viasat Inc. has a 1 year low of $25.50 and a 1 year high of $93.03.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings data 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 company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Viasat had a positive return on equity of 1.44% and a negative net margin of 0.64%.The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.02) EPS. Equities research analysts anticipate that Viasat Inc. will post -0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on VSAT shares. Morgan Stanley set a $95.00 price objective on shares of Viasat in a report on Monday. Raymond James Financial set a $74.00 target price on shares of Viasat and gave the company an “outperform” rating in a report on Friday, April 24th. New Street Research began coverage on shares of Viasat in a research note on Wednesday, May 13th. They issued a “buy” rating and a $100.00 price target for the company. Wall Street Zen downgraded shares of Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Oppenheimer started coverage on shares of Viasat in a research report on Monday, June 29th. They set an “outperform” rating and a $140.00 price target on the stock. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $90.67.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Valued Wealth Advisors LLC acquired a new stake in shares of Viasat during the first quarter valued at about $25,000. Aberdeen Wealth Management LLC purchased a new position in shares of Viasat during the 2nd quarter worth approximately $30,000. Elevation Wealth Partners LLC boosted its position in shares of Viasat by 935.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider’s stock worth $32,000 after purchasing an additional 318 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in Viasat in the 4th quarter valued at approximately $36,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Viasat in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 86.05% of the company’s stock.

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.