Richard A. Baldridge Sells 35,000 Shares of ViaSat, Inc. (NASDAQ:VSAT) Stock
ViaSat, Inc. (NASDAQ:VSAT) COO Richard A. Baldridge sold 35,000 shares of ViaSat stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $59.92, for a total value of $2,097,200.00. Following the completion of the transaction, the chief operating officer now directly owns 59,000 shares in the company, valued at $3,535,280. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Shares of ViaSat, Inc. (VSAT) traded down 0.64% during trading on Friday, hitting $60.54. The company’s stock had a trading volume of 1,024,300 shares. The firm’s 50 day moving average is $65.44 and its 200-day moving average is $65.61. The company has a market capitalization of $3.50 billion, a P/E ratio of 262.08 and a beta of 0.68. ViaSat, Inc. has a 1-year low of $57.75 and a 1-year high of $82.19.
ViaSat (NASDAQ:VSAT) last issued its quarterly earnings data on Tuesday, August 8th. The communications equipment provider reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.03. ViaSat had a net margin of 0.82% and a return on equity of 1.21%. The company had revenue of $380 million for the quarter, compared to analyst estimates of $384.29 million. During the same period in the prior year, the company posted $0.23 EPS. The business’s revenue was up 4.7% on a year-over-year basis. Analysts forecast that ViaSat, Inc. will post $0.05 EPS for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in the stock. Independent Portfolio Consultants Inc. acquired a new stake in shares of ViaSat during the first quarter valued at $163,000. Geode Capital Management LLC increased its stake in shares of ViaSat by 10.9% in the first quarter. Geode Capital Management LLC now owns 437,084 shares of the communications equipment provider’s stock valued at $27,894,000 after buying an additional 42,961 shares during the last quarter. Legal & General Group Plc increased its stake in shares of ViaSat by 26.6% in the first quarter. Legal & General Group Plc now owns 35,347 shares of the communications equipment provider’s stock valued at $2,254,000 after buying an additional 7,428 shares during the last quarter. Guggenheim Capital LLC increased its stake in shares of ViaSat by 40.4% in the fourth quarter. Guggenheim Capital LLC now owns 18,115 shares of the communications equipment provider’s stock valued at $1,199,000 after buying an additional 5,211 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of ViaSat by 1.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 18,039 shares of the communications equipment provider’s stock valued at $1,151,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.
VSAT has been the topic of several research analyst reports. B. Riley set a $89.00 price objective on ViaSat and gave the company a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research lowered ViaSat from a “hold” rating to a “sell” rating in a research note on Friday, May 26th. Cowen and Company raised ViaSat from a “market perform” rating to an “outperform” rating in a research note on Saturday, June 3rd. Royal Bank Of Canada set a $48.00 price objective on ViaSat and gave the company a “sell” rating in a research note on Saturday, May 6th. Finally, TheStreet raised ViaSat from a “c” rating to a “b-” rating in a research note on Tuesday, May 23rd. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. ViaSat presently has an average rating of “Hold” and an average price target of $76.45.
ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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