Garrett Chase Sells 4,000 Shares of Viasat (NASDAQ:VSAT) Stock

Viasat Inc. (NASDAQ:VSAT) CFO Garrett Chase sold 4,000 shares of Viasat stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $62.41, for a total value of $249,640.00. Following the sale, the chief financial officer directly owned 34,239 shares of the company’s stock, valued at approximately $2,136,855.99. This represents a 10.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Viasat Stock Down 3.6%

Shares of VSAT stock opened at $60.00 on Friday. Viasat Inc. has a fifty-two week low of $13.95 and a fifty-two week high of $89.79. The firm has a market capitalization of $8.19 billion, a PE ratio of -206.90 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’s 50-day simple moving average is $68.00 and its 200-day simple moving average is $52.45.

Viasat (NASDAQ:VSAT) last released its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.20 billion. Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.02) EPS. Equities analysts expect that Viasat Inc. will post -0.35 earnings per share for the current year.

Hedge Funds Weigh In On Viasat

Institutional investors have recently made changes to their positions in the company. Valued Wealth Advisors LLC purchased a new stake in Viasat during the first quarter worth $25,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Viasat during the fourth quarter valued at $36,000. Los Angeles Capital Management LLC purchased a new position in Viasat in the fourth quarter valued at $38,000. EFG International AG acquired a new position in shares of Viasat in the fourth quarter worth about $41,000. Finally, Danske Bank A S acquired a new position in shares of Viasat in the fourth quarter worth about $47,000. 86.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on VSAT shares. Raymond James Financial set a $74.00 price objective on shares of Viasat and gave the company an “outperform” rating in a report on Friday, April 24th. Barclays set a $49.00 target price on shares of Viasat in a report on Friday, May 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research report on Monday, April 20th. Needham & Company LLC upped their price target on shares of Viasat from $58.00 to $90.00 and gave the company a “buy” rating in a report on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $97.00 price target on shares of Viasat in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.12.

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.