Intellectus Partners LLC Reduces Stock Position in Viasat Inc. $VSAT

Intellectus Partners LLC cut its holdings in shares of Viasat Inc. (NASDAQ:VSAT) by 52.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,600 shares of the communications equipment provider’s stock after selling 8,300 shares during the quarter. Intellectus Partners LLC’s holdings in Viasat were worth $262,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in Viasat by 4.2% during the 4th quarter. Bank of New York Mellon Corp now owns 837,459 shares of the communications equipment provider’s stock worth $28,859,000 after purchasing an additional 33,553 shares during the last quarter. Natixis Advisors LLC increased its holdings in Viasat by 40.6% during the 4th quarter. Natixis Advisors LLC now owns 22,257 shares of the communications equipment provider’s stock worth $767,000 after purchasing an additional 6,424 shares during the last quarter. Florida Financial Advisors LLC purchased a new stake in Viasat during the 4th quarter worth approximately $694,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Viasat by 3.7% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 210,688 shares of the communications equipment provider’s stock worth $7,260,000 after purchasing an additional 7,530 shares during the last quarter. Finally, Norges Bank purchased a new stake in Viasat during the 4th quarter worth approximately $3,673,000. 86.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a report on Monday, April 20th. Needham & Company LLC boosted their price target on Viasat from $58.00 to $90.00 and gave the company a “buy” rating in a report on Monday. Barclays set a $49.00 price target on Viasat in a report on Friday, May 29th. B. Riley Financial boosted their price target on Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a report on Friday, May 29th. Finally, Raymond James Financial set a $74.00 price target on Viasat and gave the company an “outperform” rating in a report on Friday, April 24th. One research 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 given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $77.13.

Viasat Price Performance

Shares of NASDAQ VSAT opened at $72.93 on Friday. Viasat Inc. has a twelve month low of $8.78 and a twelve month high of $89.79. The company has a current ratio of 2.41, a quick ratio of 2.19 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $9.96 billion, a price-to-earnings ratio of -251.48 and a beta of 1.71. The business has a 50 day simple moving average of $64.03 and a 200-day simple moving average of $49.16.

Insider Activity

In related news, SVP Robert James Blair sold 30,411 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $47.04, for a total transaction of $1,430,533.44. Following the completion of the transaction, the senior vice president directly owned 38,108 shares in the company, valued at $1,792,600.32. This represents a 44.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Craig Andrew Miller sold 5,260 shares of the company’s stock in a transaction on 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 owned 21,252 shares of the company’s stock, valued at approximately $1,062,600. The trade was a 19.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 38,071 shares of company stock worth $1,804,437. 2.20% of the stock is currently owned by insiders.

Viasat 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.