Viasat (NASDAQ:VSAT) CEO Mark Dankberg Sells 400,000 Shares

Viasat Inc. (NASDAQ:VSAT) CEO Mark Dankberg sold 400,000 shares of Viasat stock in a transaction on Monday, June 8th. The shares were sold at an average price of $64.76, for a total transaction of $25,904,000.00. Following the completion of the sale, the chief executive officer owned 1,082,196 shares of the company’s stock, valued at $70,083,012.96. This represents a 26.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Viasat Stock Performance

NASDAQ:VSAT opened at $63.94 on Wednesday. The company has a fifty day moving average of $65.08 and a 200-day moving average of $49.81. The firm has a market capitalization of $8.73 billion, a P/E ratio of -220.48 and a beta of 1.71. 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 twelve month low of $10.31 and a twelve month high of $89.79.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VSAT. Needham & Company LLC lifted their price objective on shares of Viasat from $58.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, June 1st. B. Riley Financial boosted their price target on shares of Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $97.00 price target on shares of Viasat in a report on Monday, June 1st. Barclays set a $49.00 price target on shares of Viasat in a report on Friday, May 29th. Finally, Raymond James Financial set a $74.00 price target on shares of Viasat and gave the stock an “outperform” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $77.13.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VSAT. Price T Rowe Associates Inc. MD boosted its stake in Viasat by 2,821.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,222,981 shares of the communications equipment provider’s stock worth $111,065,000 after buying an additional 3,112,670 shares in the last quarter. Vanguard Group Inc. boosted its stake in Viasat by 8.2% in the third quarter. Vanguard Group Inc. now owns 16,962,958 shares of the communications equipment provider’s stock worth $497,015,000 after buying an additional 1,289,024 shares in the last quarter. Millennium Management LLC boosted its stake in Viasat by 673.7% in the first quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider’s stock worth $14,443,000 after buying an additional 1,206,935 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Viasat by 64.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider’s stock worth $29,866,000 after buying an additional 1,128,338 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Viasat by 38.5% in the third quarter. American Century Companies Inc. now owns 3,713,581 shares of the communications equipment provider’s stock worth $108,808,000 after buying an additional 1,033,194 shares in the last quarter. 86.05% of the stock is currently owned by institutional investors.

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.