Insider Selling: Viasat (NASDAQ:VSAT) Director Sells $47,058.75 in Stock

Viasat Inc. (NASDAQ:VSAT) Director John Stenbit sold 705 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $66.75, for a total transaction of $47,058.75. Following the sale, the director owned 545 shares in the company, valued at $36,378.75. This represents a 56.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Viasat Stock Up 5.0%

Shares of NASDAQ:VSAT opened at $75.32 on Friday. The company has a 50-day moving average price of $76.09 and a 200 day moving average price of $65.11. The company has a current ratio of 1.68, a quick ratio of 1.52 and a debt-to-equity ratio of 1.23. Viasat Inc. has a 12 month low of $26.10 and a 12 month high of $93.03. The company has a market cap of $10.38 billion, a price-to-earnings ratio of -313.83 and a beta of 1.70.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on VSAT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a research report on Friday, July 17th. Morgan Stanley set a $95.00 price objective on shares of Viasat in a research note on Monday, August 10th. Barclays set a $49.00 price objective on shares of Viasat in a research report on Friday, May 29th. Wall Street Zen cut shares of Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Zacks Research raised shares of Viasat from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Viasat currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.67.

Hedge Funds Weigh In On Viasat

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Viasat in the second quarter worth about $1,863,374,000. California State Teachers Retirement System lifted its position in shares of Viasat by 8,886.4% in the 2nd quarter. California State Teachers Retirement System now owns 12,015,500 shares of the communications equipment provider’s stock worth $1,079,112,000 after purchasing an additional 11,881,792 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Viasat by 2,821.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,222,981 shares of the communications equipment provider’s stock valued at $111,065,000 after buying an additional 3,112,670 shares during the period. Bank of America Corp DE purchased a new stake in Viasat during the second quarter worth $127,283,000. Finally, Millennium Management LLC increased its holdings in shares of Viasat by 673.7% in the 1st quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider’s stock valued at $14,443,000 after acquiring an additional 1,206,935 shares during the period. Institutional investors own 86.05% of the company’s stock.

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.