Everett Harris & Co. CA Sells 95,507 Shares of Viasat Inc. $VSAT

Everett Harris & Co. CA reduced its stake in Viasat Inc. (NASDAQ:VSAT) by 73.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 35,000 shares of the communications equipment provider’s stock after selling 95,507 shares during the period. Everett Harris & Co. CA’s holdings in Viasat were worth $1,026,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Activest Wealth Management purchased a new position in shares of Viasat during the 3rd quarter worth approximately $44,000. New York State Common Retirement Fund boosted its position in shares of Viasat by 9.9% during the third quarter. New York State Common Retirement Fund now owns 37,594 shares of the communications equipment provider’s stock valued at $1,102,000 after purchasing an additional 3,381 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in Viasat in the third quarter worth $1,231,000. Mutual of America Capital Management LLC raised its holdings in Viasat by 37.4% in the third quarter. Mutual of America Capital Management LLC now owns 15,040 shares of the communications equipment provider’s stock worth $441,000 after purchasing an additional 4,093 shares in the last quarter. Finally, CIBC Asset Management Inc purchased a new position in Viasat during the third quarter valued at $365,000. 86.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on VSAT. Raymond James Financial upgraded shares of Viasat from a “market perform” rating to an “outperform” rating and set a $52.00 price target for the company in a research note on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a report on Wednesday, January 21st. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Viasat in a research report on Wednesday, January 21st. JPMorgan Chase & Co. raised Viasat from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $23.00 to $50.00 in a research report on Tuesday, November 11th. Finally, William Blair reissued an “outperform” rating on shares of Viasat in a report on Tuesday, January 13th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $41.29.

Viasat Price Performance

Shares of VSAT opened at $46.23 on Friday. Viasat Inc. has a twelve month low of $7.36 and a twelve month high of $49.68. The company has a market capitalization of $6.25 billion, a P/E ratio of -11.56 and a beta of 1.39. The firm has a 50 day moving average of $37.82 and a 200 day moving average of $32.32. The company has a quick ratio of 1.84, a current ratio of 2.08 and a debt-to-equity ratio of 1.43.

Viasat (NASDAQ:VSAT) last posted its earnings results on Saturday, November 8th. The communications equipment provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.20. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.15 billion. Viasat had a negative return on equity of 3.65% and a negative net margin of 11.40%.The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.23) EPS. As a group, equities research analysts anticipate that Viasat Inc. will post -0.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Viasat news, SVP Robert James Blair sold 2,269 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $35.61, for a total transaction of $80,799.09. Following the transaction, the senior vice president owned 68,519 shares in the company, valued at approximately $2,439,961.59. This represents a 3.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark D. Dankberg sold 200,000 shares of Viasat stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $35.09, for a total transaction of $7,018,000.00. Following the completion of the sale, the chief executive officer owned 1,534,993 shares of the company’s stock, valued at $53,862,904.37. This represents a 11.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 356,529 shares of company stock worth $13,105,888 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

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.