Garrett Chase Sells 4,000 Shares of Viasat (NASDAQ:VSAT) Stock

Viasat Inc. (NASDAQ:VSAT) CFO Garrett Chase sold 4,000 shares of Viasat stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $72.50, for a total transaction of $290,000.00. Following the sale, the chief financial officer owned 38,239 shares in the company, valued at $2,772,327.50. This represents a 9.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Viasat Price Performance

Shares of NASDAQ:VSAT opened at $67.18 on Friday. The firm has a market capitalization of $9.17 billion, a P/E ratio of -231.66 and a beta of 1.71. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.41 and a quick ratio of 2.19. Viasat Inc. has a 12 month low of $9.01 and a 12 month high of $89.79. The company’s fifty day moving average price is $64.38 and its 200 day moving average price is $49.28.

Institutional Trading of Viasat

A number of hedge funds have recently added to or reduced their stakes in the stock. BankChampaign National Association acquired a new stake in Viasat during the 1st quarter worth approximately $437,000. Edgestream Partners L.P. lifted its position in Viasat by 88.4% during the 1st quarter. Edgestream Partners L.P. now owns 29,825 shares of the communications equipment provider’s stock worth $1,366,000 after acquiring an additional 13,998 shares during the period. Janus Henderson Group PLC lifted its position in Viasat by 11.4% during the 1st quarter. Janus Henderson Group PLC now owns 52,637 shares of the communications equipment provider’s stock worth $2,412,000 after acquiring an additional 5,400 shares during the period. South Dakota Investment Council lifted its position in Viasat by 92.6% during the 1st quarter. South Dakota Investment Council now owns 336,056 shares of the communications equipment provider’s stock worth $15,391,000 after acquiring an additional 161,552 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in Viasat by 78.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,026 shares of the communications equipment provider’s stock worth $184,000 after acquiring an additional 1,766 shares during the period. 86.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VSAT. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $97.00 target price on shares of Viasat in a research report on Monday, June 1st. B. Riley Financial upped their target price on Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Raymond James Financial set a $74.00 target price on Viasat and gave the company an “outperform” rating in a research report on Friday, April 24th. New Street Research began coverage on Viasat in a research report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 target price for the company. Finally, Needham & Company LLC upped their target price on Viasat from $58.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.13.

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.