Needham Investment Management LLC cut its holdings in shares of ViaSat, Inc. (NASDAQ:VSAT) by 7.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 236,725 shares of the communications equipment provider’s stock after selling 18,000 shares during the quarter. ViaSat comprises approximately 4.7% of Needham Investment Management LLC’s investment portfolio, making the stock its 2nd biggest position. Needham Investment Management LLC owned 0.40% of ViaSat worth $17,719,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Swift Run Capital Management LLC purchased a new position in ViaSat during the 4th quarter worth approximately $204,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of ViaSat by 54.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,809 shares of the communications equipment provider’s stock valued at $210,000 after buying an additional 987 shares in the last quarter. Iberiabank Corp purchased a new stake in shares of ViaSat in the fourth quarter valued at approximately $225,000. Tiedemann Wealth Management LLC boosted its stake in shares of ViaSat by 34.0% in the third quarter. Tiedemann Wealth Management LLC now owns 15,729 shares of the communications equipment provider’s stock valued at $244,000 after buying an additional 3,994 shares in the last quarter. Finally, Suntrust Banks Inc. purchased a new stake in shares of ViaSat in the fourth quarter valued at approximately $271,000. Institutional investors and hedge funds own 99.42% of the company’s stock.
VSAT has been the subject of several research reports. BidaskClub raised ViaSat from a “sell” rating to a “hold” rating in a report on Friday, March 9th. JPMorgan Chase & Co. boosted their price target on ViaSat from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Zacks Investment Research downgraded ViaSat from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Morgan Stanley initiated coverage on ViaSat in a research report on Friday, December 15th. They set an “equal weight” rating and a $78.00 price target for the company. Finally, Royal Bank of Canada reissued an “underperform” rating and set a $46.00 price target (down previously from $48.00) on shares of ViaSat in a research report on Tuesday, November 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $74.20.
Shares of ViaSat, Inc. (VSAT) traded down $1.92 during midday trading on Wednesday, reaching $73.43. The company’s stock had a trading volume of 340,555 shares, compared to its average volume of 371,364. The company has a current ratio of 1.68, a quick ratio of 1.21 and a debt-to-equity ratio of 0.38. The company has a market cap of $4,443.51, a price-to-earnings ratio of -103.97 and a beta of 0.84. ViaSat, Inc. has a 52-week low of $57.75 and a 52-week high of $80.26.
ViaSat (NASDAQ:VSAT) last announced its quarterly earnings data on Thursday, February 8th. The communications equipment provider reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $381.80 million during the quarter, compared to the consensus estimate of $392.99 million. ViaSat had a negative return on equity of 1.13% and a negative net margin of 2.59%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 EPS. analysts predict that ViaSat, Inc. will post -1.16 EPS for the current year.
In other ViaSat news, Director John P. Stenbit sold 700 shares of the stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $69.86, for a total transaction of $48,902.00. Following the transaction, the director now directly owns 10,300 shares of the company’s stock, valued at $719,558. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John P. Stenbit sold 800 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $74.86, for a total transaction of $59,888.00. Following the transaction, the director now directly owns 10,400 shares in the company, valued at $778,544. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,300 shares of company stock valued at $238,624. 7.70% of the stock is owned by corporate insiders.
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ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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