Viasat (NASDAQ:VSAT) Director John Stenbit Sells 528 Shares of Stock

Viasat Inc. (NASDAQ:VSAT) Director John Stenbit sold 528 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $88.79, for a total transaction of $46,881.12. Following the transaction, the director owned 722 shares of the company’s stock, valued at approximately $64,106.38. The trade was a 42.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Viasat Price Performance

VSAT stock opened at $81.92 on Tuesday. The firm has a market cap of $11.19 billion, a price-to-earnings ratio of -281.98 and a beta of 1.70. The company has a quick ratio of 2.19, a current ratio of 2.41 and a debt-to-equity ratio of 1.35. Viasat Inc. has a 12-month low of $14.00 and a 12-month high of $93.03. The company’s fifty day simple moving average is $70.51 and its 200 day simple moving average is $54.62.

Viasat (NASDAQ:VSAT) last issued its quarterly earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the business posted ($0.02) earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. On average, analysts expect that Viasat Inc. will post -0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on VSAT. Barclays set a $49.00 target price on Viasat in a report on Friday, May 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a research note on Monday, April 20th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $97.00 target price on shares of Viasat in a research report on Monday, June 1st. Oppenheimer started coverage on shares of Viasat in a research note on Monday, June 29th. They set an “outperform” rating and a $140.00 target price on the stock. Finally, New Street Research assumed 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. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.11.

Institutional Investors Weigh In On Viasat

A number of institutional investors and hedge funds have recently made changes to their positions in VSAT. Versant Capital Management Inc raised its holdings in shares of Viasat by 4.4% in the 2nd quarter. Versant Capital Management Inc now owns 4,940 shares of the communications equipment provider’s stock valued at $444,000 after acquiring an additional 207 shares in the last quarter. BankChampaign National Association bought a new stake in Viasat during the first quarter valued at approximately $437,000. Edgestream Partners L.P. lifted its position in Viasat by 88.4% during the first quarter. Edgestream Partners L.P. now owns 29,825 shares of the communications equipment provider’s stock valued at $1,366,000 after purchasing an additional 13,998 shares during the last quarter. Janus Henderson Group PLC grew its stake in Viasat by 11.4% in the 1st quarter. Janus Henderson Group PLC now owns 52,637 shares of the communications equipment provider’s stock worth $2,412,000 after buying an additional 5,400 shares in the last quarter. Finally, South Dakota Investment Council grew its stake in Viasat by 92.6% in the 1st quarter. South Dakota Investment Council now owns 336,056 shares of the communications equipment provider’s stock worth $15,391,000 after buying an additional 161,552 shares in the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.

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.