Viasat (NASDAQ:VSAT) Stock Price Up 7.8% – Should You Buy?

Viasat Inc. (NASDAQ:VSAT)’s stock price rose 7.8% during mid-day trading on Tuesday. The stock traded as high as $75.93 and last traded at $75.2090. 1,240,123 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 2,035,297 shares. The stock had previously closed at $69.79.

Analyst Ratings Changes

A number of analysts recently commented on VSAT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a research report on Friday, July 17th. Morgan Stanley set a $95.00 price target on shares of Viasat in a research note on Monday, August 10th. Wall Street Zen downgraded shares of Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Needham & Company LLC boosted their price objective on shares of Viasat from $90.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. 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 equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.67.

Viasat Stock Performance

The company has a market cap of $10.36 billion, a PE ratio of -312.98 and a beta of 1.76. The stock’s 50 day simple moving average is $75.07 and its two-hundred day simple moving average is $69.13. The company has a quick ratio of 1.52, a current ratio of 1.68 and a debt-to-equity ratio of 1.23.

Insiders Place Their Bets

In related news, CFO Garrett Chase sold 4,000 shares of Viasat stock in a transaction on Monday, September 21st. The stock was sold at an average price of $76.91, for a total value of $307,640.00. Following the transaction, the chief financial officer owned 51,534 shares in the company, valued at approximately $3,963,479.94. This trade represents a 7.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Benjamin Palmer sold 2,400 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $75.46, for a total value of $181,104.00. Following the sale, the senior vice president directly owned 21,159 shares of the company’s stock, valued at approximately $1,596,658.14. This trade represents a 10.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 245,763 shares of company stock worth $19,677,727. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Viasat

A number of institutional investors have recently modified their holdings of VSAT. Versant Capital Management Inc lifted its position in Viasat by 4.0% during the third quarter. Versant Capital Management Inc now owns 5,140 shares of the communications equipment provider’s stock valued at $362,000 after buying an additional 200 shares in the last quarter. Bullseye Investment Management LLC acquired a new stake in shares of Viasat in the second quarter worth $37,000. Sequoia Financial Advisors LLC purchased a new position in shares of Viasat in the 2nd quarter valued at $222,000. Tidal Investments LLC lifted its holdings in shares of Viasat by 8,261.7% during the 2nd quarter. Tidal Investments LLC now owns 976,646 shares of the communications equipment provider’s stock valued at $87,713,000 after acquiring an additional 964,966 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of Viasat during the 2nd quarter valued at $281,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Viasat Company Profile

Viasat, Inc is a communications company that provides satellite connectivity and related services to commercial, government and consumer customers. Its offerings include broadband internet, in-flight connectivity, maritime communications, enterprise networking and secure communications for government and defense applications.

The company operates a fleet of communications satellites and develops supporting ground infrastructure, network services and connectivity equipment. Viasat serves customers across North America, Europe, the Middle East, Africa, Asia-Pacific and other international markets, including airlines, shipping companies, businesses, government agencies and households in areas where terrestrial broadband is limited.

Viasat was founded in 1986 and is headquartered in Carlsbad, California.