Viasat (NASDAQ:VSAT) Hits New 52-Week High on Analyst Upgrade

Viasat Inc. (NASDAQ:VSAT) hit a new 52-week high on Thursday after Barclays upgraded the stock from an underweight rating to an equal weight rating. Barclays now has a $49.00 price target on the stock, up from their previous price target of $23.00. Viasat traded as high as $59.19 and last traded at $56.33, with a volume of 2101646 shares. The stock had previously closed at $53.88.

Several other equities research analysts also recently weighed in on the company. Needham & Company LLC raised their price target on Viasat from $45.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Morgan Stanley set a $51.00 price target on Viasat in a report on Friday, January 16th. Deutsche Bank Aktiengesellschaft upgraded Viasat from a “hold” rating to a “buy” rating and raised their price objective for the stock from $36.00 to $48.00 in a research note on Friday, February 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research note on Wednesday, January 21st. Finally, William Blair restated an “outperform” rating on shares of Viasat in a research note on Tuesday, January 13th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.43.

Insider Transactions at Viasat

In other news, SVP Robert James Blair sold 30,411 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $47.04, for a total value of $1,430,533.44. Following the completion of the transaction, 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 document filed with the SEC, which is available through the SEC website. 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 value of $263,000.00. Following the completion of the transaction, the senior vice president owned 21,252 shares of the company’s stock, valued at approximately $1,062,600. The trade was a 19.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 40,881 shares of company stock valued at $1,939,317. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of VSAT. Brightline Capital Management LLC increased its position in shares of Viasat by 1.8% in the third quarter. Brightline Capital Management LLC now owns 2,036,000 shares of the communications equipment provider’s stock valued at $59,655,000 after buying an additional 36,000 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Viasat in the third quarter valued at approximately $4,230,000. Inspire Advisors LLC purchased a new stake in shares of Viasat in the third quarter valued at approximately $4,498,000. Hudson Bay Capital Management LP purchased a new stake in shares of Viasat in the third quarter valued at approximately $7,325,000. Finally, Corient Private Wealth LLC purchased a new stake in shares of Viasat in the second quarter valued at approximately $201,000. 86.05% of the stock is currently owned by hedge funds and other institutional investors.

Viasat Price Performance

The firm has a market capitalization of $7.65 billion, a PE ratio of -21.75 and a beta of 1.45. The stock has a 50-day moving average price of $46.97 and a 200 day moving average price of $40.01. The company has a quick ratio of 1.90, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

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.