VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Holdings in Viasat Inc. $VSAT

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Viasat Inc. (NASDAQ:VSAT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 18,900 shares of the communications equipment provider’s stock, valued at approximately $1,697,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VSAT. BlackRock Inc. purchased a new position in Viasat during the second quarter valued at $1,863,374,000. Jefferies Financial Group Inc. bought a new stake in Viasat in the 4th quarter valued at $830,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Viasat in the 2nd quarter worth $11,902,000. South Dakota Investment Council boosted its holdings in shares of Viasat by 92.6% during the 1st quarter. South Dakota Investment Council now owns 336,056 shares of the communications equipment provider’s stock valued at $15,391,000 after purchasing an additional 161,552 shares during the last quarter. Finally, Everett Harris & Co. CA bought a new position in shares of Viasat during the 2nd quarter valued at about $5,423,000. 86.05% of the stock is currently owned by institutional investors.

Viasat Stock Performance

Viasat stock opened at $74.31 on Friday. The company’s 50-day moving average price is $75.25 and its 200-day moving average price is $66.09. Viasat Inc. has a twelve month low of $26.10 and a twelve month high of $93.03. The company has a quick ratio of 1.52, a current ratio of 1.68 and a debt-to-equity ratio of 1.23. The company has a market cap of $10.24 billion, a PE ratio of -309.62 and a beta of 1.70.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on VSAT shares. Zacks Research raised Viasat from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Needham & Company LLC increased their price target on Viasat from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Oppenheimer started coverage on Viasat in a report on Monday, June 29th. They set an “outperform” rating and a $140.00 price target for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $97.00 price objective on shares of Viasat in a research note on Monday, June 1st. Finally, Wall Street Zen cut Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.67.

Insider Activity at Viasat

In other Viasat news, CFO Garrett Chase sold 4,000 shares of the company’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 directly owned 26,239 shares in the company, valued at $1,965,301.10. This represents a 13.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard Baldridge sold 223,542 shares of the firm’s stock in a transaction that occurred on 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 sold a total of 244,291 shares of company stock valued at $19,526,868 over the last ninety days. 1.40% of the stock is currently owned by company insiders.

About Viasat

Viasat, Inc is a communications company that provides satellite-based connectivity and related services to consumers, businesses, governments and other organizations. The company develops and operates satellite networks, ground infrastructure and connectivity systems designed to deliver broadband, communications and data services in locations where terrestrial networks may be limited.

Viasat’s offerings include residential and community internet access, in-flight connectivity for commercial and business aviation, maritime communications, and connectivity solutions for government and defense customers.