Insider Selling: Viasat (NASDAQ:VSAT) Director Sells $172,500.00 in Stock

Viasat Inc. (NASDAQ:VSAT) Director Theresa Wise sold 2,500 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $69.00, for a total transaction of $172,500.00. Following the sale, the director directly owned 11,000 shares of the company’s stock, valued at $759,000. This represents a 18.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Viasat Stock Up 18.2%

VSAT stock opened at $72.71 on Friday. The stock has a market capitalization of $9.93 billion, a P/E ratio of -250.72 and a beta of 1.71. Viasat Inc. has a 52 week low of $10.82 and a 52 week high of $89.79. The firm has a 50-day simple moving average of $65.97 and a 200-day simple moving average of $50.33. The company has a quick ratio of 2.19, a current ratio of 2.41 and a debt-to-equity ratio of 1.35.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings results 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). The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.20 billion. Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. Equities analysts forecast that Viasat Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on VSAT. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $97.00 price target on shares of Viasat in a research report on Monday, June 1st. Needham & Company LLC boosted their price target on shares of Viasat from $58.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. B. Riley Financial boosted their price target on shares of Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Raymond James Financial set a $74.00 price target on shares of Viasat and gave the stock an “outperform” rating in a research report on Friday, April 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $77.13.

Hedge Funds Weigh In On Viasat

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers boosted its holdings in Viasat by 2.6% in the 1st quarter. Cetera Investment Advisers now owns 8,605 shares of the communications equipment provider’s stock valued at $394,000 after purchasing an additional 217 shares during the last quarter. Vise Technologies Inc. boosted its holdings in Viasat by 4.8% in the 4th quarter. Vise Technologies Inc. now owns 7,446 shares of the communications equipment provider’s stock valued at $257,000 after purchasing an additional 342 shares during the last quarter. CWM LLC boosted its holdings in Viasat by 1.8% in the 4th quarter. CWM LLC now owns 19,360 shares of the communications equipment provider’s stock valued at $667,000 after purchasing an additional 349 shares during the last quarter. State of Tennessee Department of Treasury boosted its holdings in Viasat by 0.8% in the 4th quarter. State of Tennessee Department of Treasury now owns 46,952 shares of the communications equipment provider’s stock valued at $1,618,000 after purchasing an additional 350 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Viasat by 1.9% in the 3rd quarter. Victory Capital Management Inc. now owns 19,145 shares of the communications equipment provider’s stock valued at $561,000 after purchasing an additional 361 shares during the last quarter. 86.05% of the stock is currently 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.