Vise Technologies Inc. Invests $839,000 in Viasat Inc. $VSAT

Vise Technologies Inc. acquired a new stake in shares of Viasat Inc. (NASDAQ:VSAT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,347 shares of the communications equipment provider’s stock, valued at approximately $839,000.

A number of other institutional investors also recently bought and sold shares of VSAT. Elevation Wealth Partners LLC grew its stake in shares of Viasat by 935.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider’s stock valued at $32,000 after purchasing an additional 318 shares during the period. Trust Co. of Vermont bought a new position in shares of Viasat in the 2nd quarter worth approximately $46,000. Valued Wealth Advisors LLC purchased a new position in shares of Viasat in the first quarter worth approximately $25,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Viasat in the fourth quarter worth approximately $36,000. Finally, Los Angeles Capital Management LLC bought a new stake in Viasat during the fourth quarter valued at approximately $38,000. Institutional investors own 86.05% of the company’s stock.

Viasat Price Performance

Shares of NASDAQ:VSAT opened at $74.72 on Monday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.68 and a quick ratio of 1.52. Viasat Inc. has a 1-year low of $26.10 and a 1-year high of $93.03. The company has a market capitalization of $10.29 billion, a P/E ratio of -311.33 and a beta of 1.72. The firm’s 50 day simple moving average is $74.62 and its two-hundred day simple moving average is $63.37.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.20 billion. Viasat had a positive return on equity of 1.44% and a negative net margin of 0.64%.The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.02) earnings per share. Research analysts expect that Viasat Inc. will post -0.36 EPS for the current fiscal year.

Insider Activity at Viasat

In other Viasat news, SVP Benjamin Edward Palmer sold 2,400 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $75.46, for a total transaction of $181,104.00. Following the sale, the senior vice president directly owned 21,159 shares of the company’s stock, valued at $1,596,658.14. This trade represents a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard A. Baldridge sold 223,542 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $80.62, for a total value of $18,021,956.04. The SEC filing for this sale provides additional information. Insiders have sold 671,861 shares of company stock worth $47,405,788 in the last 90 days. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on VSAT shares. Morgan Stanley set a $95.00 price target on shares of Viasat in a research report on Monday, August 10th. Wall Street Zen lowered Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Oppenheimer began coverage on Viasat in a report on Monday, June 29th. They issued an “outperform” rating and a $140.00 target price on the stock. Zacks Research raised Viasat from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $97.00 price target on shares of Viasat in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Viasat currently has a consensus rating of “Moderate Buy” and an average price target of $90.67.

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.