Benjamin Edward Palmer Sells 2,400 Shares of Viasat (NASDAQ:VSAT) Stock

Key Points

• Viasat SVP Benjamin Edward Palmer sold 2,400 shares at an average price of $75.46, generating $181,104 and reducing his holdings by 10.19% to 21,159 shares.
• Viasat shares fell 6.0% to $81.03, while the company’s latest quarterly results missed estimates, reporting a $0.02 loss per share versus expectations for $0.32 in earnings and revenue of $1.17 billion versus $1.20 billion expected.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an $85.78 average price target; institutional investors own 86.05% of the stock.

Viasat Inc. (NASDAQ:VSAT - Get Free Report) SVP Benjamin Edward Palmer sold 2,400 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $75.46, for a total value of $181,104.00. Following the sale, the senior vice president owned 21,159 shares of the company's stock, valued at approximately $1,596,658.14. This represents a 10.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Viasat Stock Down 6.0%

Shares of Viasat stock traded down $5.13 on Wednesday, reaching $81.03. The stock had a trading volume of 4,019,346 shares, compared to its average volume of 2,142,785. The company has a 50 day moving average price of $72.48 and a 200 day moving average price of $60.06. The company has a quick ratio of 2.19, a current ratio of 2.41 and a debt-to-equity ratio of 1.35. Viasat Inc. has a 1 year low of $21.28 and a 1 year high of $93.03. The stock has a market capitalization of $11.16 billion, a P/E ratio of -279.41 and a beta of 1.72.

Viasat (NASDAQ:VSAT - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.34). The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.20 billion. Viasat had a negative net margin of 0.73% and a positive return on equity of 1.58%. The business's revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.02) EPS. As a group, equities research analysts forecast that Viasat Inc. will post -0.28 EPS for the current year.

Analysts Set New Price Targets

VSAT has been the topic of several recent analyst reports. New Street Research started coverage on shares of Viasat in a research note on Wednesday, May 13th. They set a "buy" rating and a $100.00 target price on the stock. Needham & Company LLC increased their price objective on shares of Viasat from $90.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday. Barclays set a $49.00 target price on shares of Viasat in a research note on Friday, May 29th. B. Riley Financial increased their target price on Viasat from $94.00 to $106.00 and gave the company a "buy" rating in a report 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, seven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $85.78.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in VSAT. Versant Capital Management Inc grew its stake in shares of Viasat by 4.4% in the second quarter. Versant Capital Management Inc now owns 4,940 shares of the communications equipment provider's stock valued at $444,000 after buying an additional 207 shares in the last quarter. Cetera Investment Advisers lifted its stake in Viasat by 2.6% during the 1st quarter. Cetera Investment Advisers now owns 8,605 shares of the communications equipment provider's stock worth $394,000 after acquiring an additional 217 shares in the last quarter. Elevation Wealth Partners LLC boosted 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 valued at $32,000 after acquiring an additional 318 shares during the period. Vise Technologies Inc. increased its stake in Viasat by 4.8% during the fourth quarter. Vise Technologies Inc. now owns 7,446 shares of the communications equipment provider's stock worth $257,000 after purchasing an additional 342 shares during the period. Finally, CWM LLC increased its stake in Viasat by 1.8% during the fourth quarter. CWM LLC now owns 19,360 shares of the communications equipment provider's stock worth $667,000 after purchasing an additional 349 shares during the period. 86.05% of the stock is currently owned by institutional investors and hedge funds.

More Viasat News

Here are the key news stories impacting Viasat this week:

• Positive Sentiment: Viasat reported fiscal Q1 adjusted earnings of $0.17 per share, exceeding the $0.10 consensus estimate and improving from a loss of $0.43 per share a year earlier. Lower interest expense helped narrow losses, while management reaffirmed its growth outlook. Viasat Q1 Earnings Beat Estimates Despite Lower Y/Y Revenues
• Positive Sentiment: The earnings call highlighted record awards for Viasat’s government-focused Direct Access to Technology business, improving cash flow, and two ViaSat-3 satellites nearing service. Expanded satellite capacity could support future growth in aviation, maritime and government markets. Viasat Q1 Earnings Call Centers on DAT Growth and ViaSat-3
• Neutral Sentiment: ViaSat-3 deployment progress and recent government contract wins have helped drive a 21.4% three-month rally, but investors are watching whether commercialization can translate the additional capacity into sustained revenue growth. Can Viasat’s Three-Month Rally Keep Climbing or Stall Now?
• Negative Sentiment: Quarterly revenue of approximately $1.16 billion fell short of the roughly $1.20 billion analyst expectation and declined about 1.2% year over year. The revenue shortfall suggests that operational execution and demand growth remain uneven despite the EPS beat. Viasat Stock Hits the Brakes After Q1 Report
• Negative Sentiment: Analysts and investors also question whether VSAT is priced too aggressively following its recent advance. Commercialization risk, intense competition and the company’s history of losses make the valuation more difficult to justify until ViaSat-3 growth becomes visible in reported results. Why ViaSat Stock Dropped After Earnings

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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