Viasat (NASDAQ:VSAT) Trading Up 8.5% – Still a Buy?

Viasat Inc. (NASDAQ:VSAT)’s share price was up 8.5% during mid-day trading on Friday . The stock traded as high as $74.81 and last traded at $76.7410. Approximately 164,028 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 1,712,958 shares. The stock had previously closed at $70.76.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on VSAT shares. New Street Research started coverage on Viasat in a report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 price target on the stock. Needham & Company LLC raised their price target on Viasat from $45.00 to $58.00 and gave the company a “buy” rating in a report on Friday, March 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a research note on Monday, April 20th. B. Riley Financial increased their target price on Viasat from $52.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Deutsche Bank Aktiengesellschaft raised Viasat from a “hold” rating to a “buy” rating and increased their target price for the company from $36.00 to $48.00 in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.50.

Viasat Stock Performance

The firm has a market capitalization of $9.97 billion, a P/E ratio of -28.37 and a beta of 1.66. The stock has a fifty day moving average of $58.23 and a 200-day moving average of $46.32. The company has a quick ratio of 1.90, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

Insider Buying and Selling at Viasat

In other Viasat news, SVP Benjamin Edward Palmer sold 2,400 shares of Viasat stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $46.21, for a total value of $110,904.00. Following the completion of the transaction, the senior vice president directly owned 25,431 shares of the company’s stock, valued at $1,175,166.51. The trade was a 8.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Craig Andrew Miller sold 5,260 shares of Viasat stock in a transaction on Tuesday, March 17th. The shares were 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 directly owned 21,252 shares of the company’s stock, valued at $1,062,600. This represents a 19.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 38,071 shares of company stock valued at $1,804,437 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Viasat

A number of institutional investors have recently modified their holdings of VSAT. Valued Wealth Advisors LLC acquired a new position in shares of Viasat during the 1st quarter worth $25,000. Hantz Financial Services Inc. raised its holdings in shares of Viasat by 6,815.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock worth $26,000 after buying an additional 886 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Viasat during the 4th quarter worth $36,000. Los Angeles Capital Management LLC bought a new stake in Viasat during the 4th quarter worth $38,000. Finally, EFG International AG bought a new stake in Viasat during the 4th quarter worth $41,000. Institutional investors and hedge funds own 86.05% of the company’s stock.

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.