Viasat Inc. $VSAT Holdings Boosted by Tema ETFs LLC

Tema ETFs LLC increased its holdings in Viasat Inc. (NASDAQ:VSAT) by 229,857.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 965,820 shares of the communications equipment provider’s stock after buying an additional 965,400 shares during the period. Viasat comprises approximately 2.8% of Tema ETFs LLC’s investment portfolio, making the stock its 4th biggest holding. Tema ETFs LLC’s holdings in Viasat were worth $86,740,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of VSAT. Royal Bank of Canada raised its position in shares of Viasat by 483.2% in the 1st quarter. Royal Bank of Canada now owns 109,448 shares of the communications equipment provider’s stock worth $1,140,000 after acquiring an additional 90,680 shares in the last quarter. AQR Capital Management LLC boosted its position in Viasat by 189.7% during the first quarter. AQR Capital Management LLC now owns 452,933 shares of the communications equipment provider’s stock valued at $4,692,000 after purchasing an additional 296,612 shares in the last quarter. Millennium Management LLC boosted its position in Viasat by 673.7% during the first quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider’s stock valued at $14,443,000 after purchasing an additional 1,206,935 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Viasat by 64.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider’s stock valued at $29,866,000 after purchasing an additional 1,128,338 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in Viasat by 6.9% in the first quarter. Empowered Funds LLC now owns 226,184 shares of the communications equipment provider’s stock valued at $2,357,000 after purchasing an additional 14,575 shares during the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on VSAT shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $97.00 price target on shares of Viasat in a research report on Monday, June 1st. Wall Street Zen downgraded shares of Viasat from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a research note on Friday, July 17th. Zacks Research raised shares of Viasat from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Finally, Morgan Stanley set a $95.00 target price on shares of Viasat in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Viasat has a consensus rating of “Moderate Buy” and an average target price of $90.67.

Insider Activity at Viasat

In other Viasat news, CEO Mark D. Dankberg sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $64.76, for a total transaction of $25,904,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,082,196 shares of the company’s stock, valued at approximately $70,083,012.96. This trade represents a 26.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Richard A. Baldridge sold 223,542 shares of Viasat stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $80.62, for a total transaction of $18,021,956.04. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 671,861 shares of company stock worth $47,405,788 in the last ninety days. 1.40% of the stock is owned by company insiders.

Viasat Trading Down 0.4%

NASDAQ:VSAT opened at $84.52 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.52 and a debt-to-equity ratio of 1.23. The firm has a fifty day simple moving average of $72.77 and a 200-day simple moving average of $61.41. Viasat Inc. has a 12 month low of $25.50 and a 12 month high of $93.03. The company has a market capitalization of $11.64 billion, a P/E ratio of -352.17 and a beta of 1.72.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings data 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). Viasat had a negative net margin of 0.64% and a positive return on equity of 1.44%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the company posted ($0.02) earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts anticipate that Viasat Inc. will post -0.28 earnings per share for the current year.

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.