Viasat (NASDAQ:VSAT) Shares Gap Down – Here’s What Happened

Viasat Inc. (NASDAQ:VSAT) gapped down before the market opened on Friday . The stock had previously closed at $86.69, but opened at $76.97. Viasat shares last traded at $80.5540, with a volume of 645,472 shares trading hands.

Wall Street Analyst Weigh In

VSAT has been the subject of a number of analyst reports. Barclays set a $49.00 price objective on shares of Viasat in a research report on Friday. B. Riley Financial raised their target price on shares of Viasat from $52.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a research note on Monday, April 20th. New Street Research started coverage on Viasat in a report on Wednesday, May 13th. They set a “buy” rating and a $100.00 price target on the stock. Finally, Needham & Company LLC lifted their price objective on shares of Viasat from $45.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.50.

Viasat Price Performance

The company has a fifty day simple moving average of $61.55 and a 200-day simple moving average of $47.86. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.90. The company has a market cap of $10.89 billion, a P/E ratio of -31.10 and a beta of 1.66.

Insiders Place Their Bets

In other Viasat news, SVP Benjamin Edward Palmer sold 2,400 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $46.21, for a total transaction of $110,904.00. Following the sale, the senior vice president directly owned 25,431 shares of the company’s stock, valued at $1,175,166.51. The trade was a 8.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert James Blair sold 30,411 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $47.04, for a total transaction of $1,430,533.44. Following the sale, the senior vice president directly owned 38,108 shares in the company, valued at approximately $1,792,600.32. This trade represents a 44.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 38,071 shares of company stock worth $1,804,437. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Viasat

A number of hedge funds have recently modified their holdings of VSAT. Vanguard Group Inc. increased its holdings in Viasat by 8.2% in the third quarter. Vanguard Group Inc. now owns 16,962,958 shares of the communications equipment provider’s stock worth $497,015,000 after buying an additional 1,289,024 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its position in shares of Viasat by 15.8% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,845,100 shares of the communications equipment provider’s stock valued at $85,338,000 after purchasing an additional 796,349 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Viasat by 18.2% in the first quarter. Dimensional Fund Advisors LP now owns 4,789,539 shares of the communications equipment provider’s stock worth $219,346,000 after acquiring an additional 738,656 shares during the last quarter. American Century Companies Inc. grew its position in Viasat by 38.5% during the third quarter. American Century Companies Inc. now owns 3,713,581 shares of the communications equipment provider’s stock worth $108,808,000 after buying an additional 1,033,194 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Viasat by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 3,328,854 shares of the communications equipment provider’s stock valued at $115,266,000 after purchasing an additional 273,369 shares during the period. 86.05% of the stock is owned by institutional investors and hedge funds.

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.