UBS Group AG Sells 297,698 Shares of Viasat Inc. $VSAT

UBS Group AG trimmed its stake in Viasat Inc. (NASDAQ:VSAT) by 26.3% during the 4th quarter, HoldingsChannel reports. The fund owned 833,773 shares of the communications equipment provider’s stock after selling 297,698 shares during the quarter. UBS Group AG’s holdings in Viasat were worth $28,732,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky boosted its holdings in Viasat by 36.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 32,754 shares of the communications equipment provider’s stock worth $1,128,000 after acquiring an additional 8,722 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Viasat by 3.0% in the fourth quarter. Arizona State Retirement System now owns 31,774 shares of the communications equipment provider’s stock worth $1,095,000 after buying an additional 936 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Viasat by 23.5% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 11,138 shares of the communications equipment provider’s stock worth $385,000 after buying an additional 2,120 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Viasat by 60.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,764 shares of the communications equipment provider’s stock worth $1,198,000 after buying an additional 13,148 shares in the last quarter. Finally, Bayforest Capital Ltd lifted its stake in shares of Viasat by 31.8% in the fourth quarter. Bayforest Capital Ltd now owns 12,614 shares of the communications equipment provider’s stock worth $435,000 after buying an additional 3,042 shares in the last quarter. 86.05% of the stock is owned by institutional investors.

Insider Activity at Viasat

In related news, SVP Benjamin Edward Palmer sold 2,400 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.21, for a total transaction of $110,904.00. Following the transaction, the senior vice president owned 25,431 shares in the company, valued at $1,175,166.51. This represents a 8.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert James Blair sold 30,411 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $47.04, for a total transaction of $1,430,533.44. Following the transaction, the senior vice president owned 38,108 shares in the company, valued at approximately $1,792,600.32. This trade represents a 44.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 38,071 shares of company stock worth $1,804,437 over the last quarter. Company insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

VSAT has been the topic of several analyst reports. William Blair reiterated an “outperform” rating on shares of Viasat in a research note on Tuesday, January 13th. B. Riley Financial upped their target price on shares of Viasat from $52.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Needham & Company LLC upped their target price on shares of Viasat from $45.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Barclays upgraded shares of Viasat from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $23.00 to $49.00 in a research note on Wednesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Viasat from a “hold” rating to a “buy” rating and upped their target price for the stock from $36.00 to $48.00 in a research note on Friday, February 6th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Viasat presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.57.

Viasat Stock Up 5.5%

Shares of Viasat stock opened at $70.01 on Friday. The company has a market cap of $9.51 billion, a price-to-earnings ratio of -27.03 and a beta of 1.66. The company’s 50 day moving average is $53.13 and its 200 day moving average is $43.95. Viasat Inc. has a twelve month low of $8.61 and a twelve month high of $70.35. The company has a quick ratio of 1.90, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

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.