Viasat (NASDAQ:VSAT) Shares Gap Down – What’s Next?

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 changing hands.

Analysts Set New Price Targets

Several equities analysts have commented on VSAT shares. Raymond James Financial set a $74.00 price objective on Viasat and gave the company an “outperform” rating in a research report on Friday, April 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a research report on Monday, April 20th. Barclays set a $49.00 target price on shares of Viasat in a research note on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of Viasat from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $36.00 to $48.00 in a research note on Friday, February 6th. Finally, New Street Research started coverage on Viasat in a report on Wednesday, May 13th. They set a “buy” rating and a $100.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Viasat currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.50.

Viasat Stock Performance

The firm’s 50-day moving average is $61.55 and its two-hundred day moving average is $47.86. The company has a current ratio of 2.13, a quick ratio of 1.90 and a debt-to-equity ratio of 1.35. The stock has a market cap of $10.89 billion, a price-to-earnings ratio of -31.10 and a beta of 1.66.

Insiders Place Their Bets

In other news, SVP Benjamin Edward Palmer sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.21, for a total value of $110,904.00. Following the completion of the transaction, the senior vice president owned 25,431 shares of the company’s stock, valued at approximately $1,175,166.51. This trade represents a 8.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Craig Andrew Miller sold 5,260 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $50.00, for a total value of $263,000.00. Following the transaction, the senior vice president directly owned 21,252 shares of the company’s stock, valued at approximately $1,062,600. This represents a 19.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 38,071 shares of company stock valued at $1,804,437 in the last three months. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viasat

Several large investors have recently modified their holdings of the company. Valued Wealth Advisors LLC acquired a new stake in shares of Viasat during the first quarter worth $25,000. Hantz Financial Services Inc. raised its stake in Viasat by 6,815.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 886 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in Viasat in the 4th quarter valued at about $36,000. Los Angeles Capital Management LLC acquired a new position in Viasat in the 4th quarter valued at $38,000. Finally, EFG International AG acquired a new position in Viasat in the 4th quarter valued at $41,000. 86.05% of the stock is owned by institutional investors and hedge funds.

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.