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

Viasat Inc. (NASDAQ:VSAT) CFO Garrett Chase sold 4,000 shares of the business’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $58.86, for a total value of $235,440.00. Following the transaction, the chief financial officer owned 47,534 shares of the company’s stock, valued at $2,797,851.24. The trade was a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Viasat Trading Down 5.7%

Shares of VSAT stock traded down $3.59 on Thursday, reaching $59.00. The company had a trading volume of 2,311,466 shares, compared to its average volume of 2,041,464. The company has a current ratio of 1.68, a quick ratio of 1.52 and a debt-to-equity ratio of 1.23. The stock has a market cap of $8.13 billion, a PE ratio of -245.83 and a beta of 1.76. The company has a 50-day moving average of $71.43 and a 200-day moving average of $70.59. Viasat Inc. has a 12 month low of $29.13 and a 12 month high of $93.03.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings results on Tuesday, August 4th. The communications equipment provider reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.07. Viasat had a negative net margin of 0.64% and a positive return on equity of 1.44%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the company posted $0.17 EPS. Viasat’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities analysts forecast that Viasat Inc. will post -0.38 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Morgan Stanley set a $95.00 target price on shares of Viasat in a report on Monday, August 10th. Needham & Company LLC boosted their price target on shares of Viasat from $90.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a report on Thursday, October 15th. Oppenheimer started coverage on shares of Viasat in a research report on Monday, June 29th. They issued an “outperform” rating and a $140.00 price objective for the company. Finally, Wall Street Zen downgraded Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Viasat currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.67.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Valued Wealth Advisors LLC acquired a new position in shares of Viasat in the first quarter valued at approximately $25,000. Aberdeen Wealth Management LLC bought a new position in Viasat during the 2nd quarter worth about $30,000. Elevation Wealth Partners LLC increased its holdings in Viasat by 935.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider’s stock worth $32,000 after purchasing an additional 318 shares in the last quarter. Bullseye Investment Management LLC bought a new position in Viasat during the 2nd quarter worth about $37,000. Finally, Root Financial Partners LLC acquired a new position in shares of Viasat during the third quarter worth about $38,000. Institutional investors own 86.05% of the company’s stock.

About Viasat

Viasat, Inc is a communications technology company that provides satellite-based connectivity and related services to commercial, government and consumer customers. The company’s offerings include high-speed broadband, satellite communications, network services and connectivity solutions designed for locations where terrestrial networks may be limited or unavailable.

Viasat serves the aviation, maritime, residential broadband, enterprise and government markets. Its services support in-flight internet for commercial and business aircraft, connectivity for ships and offshore operations, broadband access for homes and communities, and secure communications for government and defense customers.