Bank of New York Mellon Corp lessened its position in shares of Viasat Inc. (NASDAQ:VSAT - Free Report) by 5.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 790,417 shares of the communications equipment provider's stock after selling 47,042 shares during the period. Bank of New York Mellon Corp owned approximately 0.58% of Viasat worth $36,201,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada grew its position in shares of Viasat by 483.2% during the 1st quarter. Royal Bank of Canada now owns 109,448 shares of the communications equipment provider's stock valued at $1,140,000 after purchasing an additional 90,680 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Viasat by 189.7% in the first quarter. AQR Capital Management LLC now owns 452,933 shares of the communications equipment provider's stock worth $4,692,000 after buying an additional 296,612 shares in the last quarter. Millennium Management LLC raised its position in shares of Viasat by 673.7% in the first quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider's stock worth $14,443,000 after buying an additional 1,206,935 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Viasat by 64.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider's stock valued at $29,866,000 after buying an additional 1,128,338 shares during the period. Finally, Empowered Funds LLC boosted its stake in Viasat by 6.9% during the first quarter. Empowered Funds LLC now owns 226,184 shares of the communications equipment provider's stock valued at $2,357,000 after buying an additional 14,575 shares during the period. 86.05% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages have weighed in on VSAT. B. Riley Financial upped their target price on Viasat from $94.00 to $106.00 and gave the stock a "buy" rating in a research note on Friday, May 29th. Needham & Company LLC raised their price target on Viasat from $58.00 to $90.00 and gave the company a "buy" rating in a report on Monday, June 1st. Raymond James Financial set a $74.00 price target on Viasat and gave the company an "outperform" rating in a research report on Friday, April 24th. Zacks Research lowered Viasat from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 30th. Finally, Oppenheimer started coverage on shares of Viasat in a research report on Monday, June 29th. They issued an "outperform" rating and a $140.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $84.11.
Read Our Latest Stock Analysis on VSAT
Insider Transactions at Viasat
In related news, CFO Garrett L. Chase sold 4,000 shares of the firm's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $62.41, for a total transaction of $249,640.00. Following the transaction, the chief financial officer directly owned 34,239 shares of the company's stock, valued at approximately $2,136,855.99. This trade represents a 10.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Theresa Wise sold 2,500 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $69.00, for a total value of $172,500.00. Following the completion of the sale, the director owned 11,000 shares of the company's stock, valued at $759,000. The trade was a 18.52% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 438,803 shares of company stock worth $28,655,600. Company insiders own 2.20% of the company's stock.
Viasat Stock Performance
NASDAQ VSAT opened at $71.70 on Friday. Viasat Inc. has a 52-week low of $14.11 and a 52-week high of $93.03. 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 company has a market capitalization of $9.79 billion, a P/E ratio of -247.24 and a beta of 1.70. The company has a fifty day moving average of $72.04 and a 200-day moving average of $58.12.
Viasat (NASDAQ:VSAT - Get Free Report) last released its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.34). Viasat had a negative net margin of 0.73% and a positive return on equity of 1.58%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the company earned ($0.02) EPS. The firm's revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Viasat Inc. will post -0.39 EPS for the current fiscal year.
Viasat Company Profile
(
Free Report)
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.
Further Reading
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