Richard Baldridge Sells 27,122 Shares of Viasat (NASDAQ:VSAT) Stock

Viasat Inc. (NASDAQ:VSAT) Director Richard Baldridge sold 27,122 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total value of $1,945,732.28. Following the completion of the sale, the director directly owned 213,355 shares of the company’s stock, valued at $15,306,087.70. This represents a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Viasat Stock Down 7.9%

VSAT opened at $67.18 on Friday. Viasat Inc. has a 1-year low of $9.01 and a 1-year high of $89.79. The company has a current ratio of 2.41, a quick ratio of 2.19 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of -231.66 and a beta of 1.71. The business has a 50 day moving average of $64.38 and a 200-day moving average of $49.28.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Valued Wealth Advisors LLC acquired a new position in Viasat during the first quarter worth $25,000. Hantz Financial Services Inc. raised its stake in Viasat by 6,815.4% during the third quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock worth $26,000 after acquiring an additional 886 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in Viasat during the fourth quarter worth $36,000. Los Angeles Capital Management LLC acquired a new position in Viasat during the fourth quarter worth $38,000. Finally, International Assets Investment Management LLC acquired a new position in Viasat during the first quarter worth $51,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VSAT. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research note on Monday, April 20th. Barclays set a $49.00 target price on Viasat in a research note on Friday, May 29th. New Street Research began coverage on Viasat in a research note on Wednesday, May 13th. They issued a “buy” rating and a $100.00 target price for the company. B. Riley Financial upped their target price on Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Finally, Needham & Company LLC upped their target price on Viasat from $58.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.13.

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.