Wellington Management Group LLP Has $26.87 Million Stake in Viasat Inc. $VSAT

Wellington Management Group LLP grew its stake in shares of Viasat Inc. (NASDAQ:VSAT) by 90.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 299,210 shares of the communications equipment provider’s stock after purchasing an additional 142,468 shares during the period. Wellington Management Group LLP’s holdings in Viasat were worth $26,872,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Empowered Funds LLC purchased a new position in shares of Viasat during the second quarter valued at approximately $26,477,000. Caitlin John LLC purchased a new stake in Viasat in the 2nd quarter valued at $1,260,000. Equitable Holdings Inc. bought a new position in Viasat during the 2nd quarter valued at $4,650,000. Jefferies Financial Group Inc. purchased a new position in Viasat during the 2nd quarter worth $1,055,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Viasat during the 2nd quarter worth $199,000. 86.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Viasat

In other Viasat news, Director Theresa Wise sold 2,500 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $69.00, for a total value of $172,500.00. Following the transaction, the director directly owned 11,000 shares in the company, valued at $759,000. The trade was a 18.52% 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, CFO Garrett L. Chase sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $74.90, for a total transaction of $299,600.00. Following the sale, the chief financial officer owned 26,239 shares of the company’s stock, valued at approximately $1,965,301.10. The trade was a 13.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 646,791 shares of company stock valued at $45,603,368 in the last 90 days. 1.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

VSAT has been the subject of several analyst reports. B. Riley Financial increased their target price on shares of Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a report on Friday, May 29th. Morgan Stanley set a $95.00 price target on shares of Viasat in a report on Monday, August 10th. New Street Research began coverage on shares of Viasat in a research note on Wednesday, May 13th. They issued a “buy” rating and a $100.00 price objective for the company. Wall Street Zen cut shares of Viasat from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Zacks Research upgraded Viasat from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.67.

Viasat Trading Up 5.0%

Shares of Viasat stock opened at $75.32 on Friday. The firm has a market cap of $10.38 billion, a PE ratio of -313.83 and a beta of 1.70. Viasat Inc. has a 1 year low of $26.10 and a 1 year high of $93.03. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.68 and a quick ratio of 1.52. The stock has a fifty day moving average price of $76.09 and a 200-day moving average price of $65.11.

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.