Harvest Fund Management Co. Ltd Purchases Shares of 9,946 Viasat Inc. $VSAT

Harvest Fund Management Co. Ltd purchased a new stake in shares of Viasat Inc. (NASDAQ:VSAT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 9,946 shares of the communications equipment provider’s stock, valued at approximately $343,000.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Viasat by 8.2% during the 3rd quarter. Vanguard Group Inc. now owns 16,962,958 shares of the communications equipment provider’s stock valued at $497,015,000 after buying an additional 1,289,024 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in Viasat by 15.8% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,845,100 shares of the communications equipment provider’s stock valued at $85,338,000 after buying an additional 796,349 shares in the last quarter. American Century Companies Inc. grew its holdings in Viasat by 38.5% during the 3rd quarter. American Century Companies Inc. now owns 3,713,581 shares of the communications equipment provider’s stock valued at $108,808,000 after buying an additional 1,033,194 shares in the last quarter. Geode Capital Management LLC grew its holdings in Viasat by 8.9% during the 4th quarter. Geode Capital Management LLC now owns 3,328,854 shares of the communications equipment provider’s stock valued at $115,266,000 after buying an additional 273,369 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Viasat by 43.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,307,187 shares of the communications equipment provider’s stock worth $96,890,000 after purchasing an additional 1,002,737 shares during the period. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Insider Activity

In related news, Director John P. Stenbit sold 653 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $71.74, for a total transaction of $46,846.22. Following the completion of the sale, the director directly owned 29,597 shares of the company’s stock, valued at approximately $2,123,288.78. This trade represents a 2.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Garrett L. Chase sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $72.50, for a total value of $290,000.00. Following the sale, the chief financial officer directly owned 38,239 shares of the company’s stock, valued at $2,772,327.50. This represents a 9.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 69,846 shares of company stock worth $4,087,016 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Viasat Price Performance

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. New Street Research assumed coverage on Viasat in a report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 target price for the company. B. Riley Financial lifted their target price on Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Needham & Company LLC lifted their target price on Viasat from $58.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Barclays set a $49.00 target price on Viasat in a report on Friday, May 29th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a report on Monday, April 20th. One 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 company’s stock. According to data from MarketBeat, Viasat currently has a consensus rating of “Moderate Buy” and a consensus price target 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.