Geode Capital Management LLC Raises Stock Position in Viasat Inc. $VSAT

Geode Capital Management LLC boosted its position in shares of Viasat Inc. (NASDAQ:VSAT) by 8.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,328,854 shares of the communications equipment provider’s stock after purchasing an additional 273,369 shares during the period. Geode Capital Management LLC’s holdings in Viasat were worth $115,266,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Hantz Financial Services Inc. grew its stake in Viasat by 6,815.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock worth $26,000 after buying an additional 886 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Viasat in the 4th quarter valued at $36,000. Danske Bank A S purchased a new stake in shares of Viasat in the 4th quarter valued at $47,000. Larson Financial Group LLC boosted its stake in shares of Viasat by 7,380.0% in the 3rd quarter. Larson Financial Group LLC now owns 2,244 shares of the communications equipment provider’s stock valued at $66,000 after purchasing an additional 2,214 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Viasat by 57.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,260 shares of the communications equipment provider’s stock valued at $78,000 after purchasing an additional 827 shares in the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Insider Buying and Selling

In other Viasat news, Director Richard A. Baldridge sold 27,122 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total transaction of $1,945,732.28. Following the completion of the sale, the director directly owned 213,355 shares in the company, valued at approximately $15,306,087.70. This trade represents a 11.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Garrett L. Chase sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were 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 of the company’s stock, valued at approximately $2,772,327.50. This represents a 9.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 69,846 shares of company stock worth $4,087,016 over the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial set a $74.00 price objective on shares of Viasat and gave the company an “outperform” rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $97.00 price objective on shares of Viasat in a research note on Monday. B. Riley Financial upped their price target on shares of Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a report on Friday, May 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a report on Monday, April 20th. Finally, Barclays set a $49.00 price target on shares of Viasat in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Viasat has an average rating of “Moderate Buy” and a consensus target price of $77.13.

Viasat Stock Down 7.9%

Shares of NASDAQ:VSAT opened at $67.18 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.19 and a current ratio of 2.41. The stock has a 50 day moving average price of $64.38 and a 200-day moving average price of $49.28. The firm has a market capitalization of $9.17 billion, a P/E ratio of -231.66 and a beta of 1.71. Viasat Inc. has a 52-week low of $9.01 and a 52-week high of $89.79.

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.