Camellia Fitzgerald Sells 2,810 Shares of Viasat (NASDAQ:VSAT) Stock

Viasat Inc. (NASDAQ:VSAT) CAO Camellia Fitzgerald sold 2,810 shares of the stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $48.00, for a total transaction of $134,880.00. Following the sale, the chief accounting officer directly owned 9,946 shares of the company’s stock, valued at $477,408. The trade was a 22.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Viasat Stock Performance

Shares of VSAT stock opened at $45.17 on Friday. Viasat Inc. has a 12-month low of $7.36 and a 12-month high of $49.68. The business’s fifty day simple moving average is $38.12 and its 200-day simple moving average is $32.65. The company has a current ratio of 2.08, a quick ratio of 1.84 and a debt-to-equity ratio of 1.43. The company has a market cap of $6.11 billion, a PE ratio of -11.29 and a beta of 1.39.

Viasat (NASDAQ:VSAT) last announced its earnings results on Saturday, November 8th. The communications equipment provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.20. Viasat had a negative return on equity of 3.65% and a negative net margin of 11.40%.The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the business earned ($0.23) EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Analysts expect that Viasat Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Trading of Viasat

Hedge funds have recently modified their holdings of the stock. Edgestream Partners L.P. acquired a new position in Viasat in the 2nd quarter worth about $1,099,000. Quantbot Technologies LP acquired a new stake in Viasat in the second quarter valued at approximately $3,066,000. Neuberger Berman Group LLC increased its position in shares of Viasat by 6.8% in the second quarter. Neuberger Berman Group LLC now owns 5,541,636 shares of the communications equipment provider’s stock valued at $80,908,000 after buying an additional 351,404 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in shares of Viasat during the 2nd quarter worth approximately $1,601,000. Finally, Corient Private Wealth LLC purchased a new position in shares of Viasat during the 2nd quarter valued at approximately $201,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Analyst Upgrades and Downgrades

VSAT has been the subject of several research analyst reports. Morgan Stanley set a $51.00 price objective on shares of Viasat in a research report on Friday, January 16th. JPMorgan Chase & Co. raised shares of Viasat from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $23.00 to $50.00 in a report on Tuesday, November 11th. Raymond James Financial raised shares of Viasat from a “market perform” rating to an “outperform” rating and set a $52.00 price objective on the stock in a report on Monday, November 10th. William Blair restated an “outperform” rating on shares of Viasat in a research note on Tuesday, January 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a research note on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $41.29.

Viasat Company 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.