Viasat (NASDAQ:VSAT) Trading Down 5.6% on Insider Selling

Viasat Inc. (NASDAQ:VSAT) shares fell 5.6% on Monday following insider selling activity. The company traded as low as $63.12 and last traded at $63.44. 577,843 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 1,850,915 shares. The stock had previously closed at $67.18.

Specifically, CFO Garrett L. Chase sold 4,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $72.50, for a total value of $290,000.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John P. Stenbit sold 653 shares of Viasat stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total transaction of $46,846.22. Following the sale, the director owned 29,597 shares in the company, valued at approximately $2,123,288.78. This represents a 2.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In related news, Director Richard A. Baldridge sold 27,122 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total value of $1,945,732.28. Following the completion of the sale, the director owned 213,355 shares of the company’s stock, valued at $15,306,087.70. This represents a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VSAT. Needham & Company LLC increased their target price on shares of Viasat from $58.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, June 1st. B. Riley Financial upped their price target on shares of Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Raymond James Financial set a $74.00 price objective on shares of Viasat and gave the company an “outperform” rating in a report on Friday, April 24th. Barclays set a $49.00 price objective on shares of Viasat in a research note on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $97.00 target price on shares of Viasat in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Viasat has a consensus rating of “Moderate Buy” and a consensus target price of $77.13.

Viasat Stock Performance

The company has a current ratio of 2.41, a quick ratio of 2.19 and a debt-to-equity ratio of 1.35. The company’s 50-day moving average price is $64.38 and its two-hundred day moving average price is $49.40. The company has a market cap of $8.78 billion, a P/E ratio of -221.66 and a beta of 1.71.

Institutional Trading of Viasat

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Valued Wealth Advisors LLC bought a new stake in Viasat during the first quarter worth approximately $25,000. Hantz Financial Services Inc. lifted its position in shares of Viasat by 6,815.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock valued at $26,000 after acquiring an additional 886 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Viasat during the 4th quarter worth $36,000. Los Angeles Capital Management LLC bought a new stake in shares of Viasat during the 4th quarter worth $38,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Viasat in the 1st quarter worth $51,000. 86.05% of the stock is owned by institutional investors and hedge funds.

About Viasat

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.