Edgestream Partners L.P. Boosts Holdings in Viasat Inc. $VSAT

Key Points

• Edgestream Partners increased its Viasat stake by 88.4% in the first quarter, bringing its holdings to 29,825 shares valued at approximately $1.37 million. Institutional investors collectively own 86.05% of VSAT.
• Viasat shares opened at $81.29, near the upper end of their 52-week range of $18.31 to $93.03. The company reported quarterly revenue of $1.17 billion, up 2.1% year over year, but missed earnings expectations with a loss of $0.02 per share.
• Analyst sentiment is “Moderate Buy,” with a consensus price target of $84.11 and targets ranging as high as $140. However, insiders sold $28.9 million of stock over the past three months.

Edgestream Partners L.P. boosted its holdings in Viasat Inc. (NASDAQ:VSAT - Free Report) by 88.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,825 shares of the communications equipment provider's stock after purchasing an additional 13,998 shares during the quarter. Edgestream Partners L.P.'s holdings in Viasat were worth $1,366,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Viasat by 15.8% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,845,100 shares of the communications equipment provider's stock worth $85,338,000 after buying an additional 796,349 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Viasat by 18.2% during the first quarter. Dimensional Fund Advisors LP now owns 4,789,539 shares of the communications equipment provider's stock valued at $219,346,000 after acquiring an additional 738,656 shares in the last quarter. Geode Capital Management LLC grew its stake in Viasat by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 3,328,854 shares of the communications equipment provider's stock valued at $115,266,000 after acquiring an additional 273,369 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Viasat by 2,821.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,222,981 shares of the communications equipment provider's stock valued at $111,065,000 after acquiring an additional 3,112,670 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Viasat by 64.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider's stock worth $29,866,000 after purchasing an additional 1,128,338 shares in the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.

Viasat Price Performance

NASDAQ:VSAT opened at $81.29 on Tuesday. The firm has a market capitalization of $11.20 billion, a price-to-earnings ratio of -280.31 and a beta of 1.72. Viasat Inc. has a 1 year low of $18.31 and a 1 year high of $93.03. The business has a 50 day simple moving average of $72.39 and a 200-day simple moving average of $59.75. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.41 and a quick ratio of 2.19.

Viasat (NASDAQ:VSAT - Get Free Report) last released its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm posted ($0.02) EPS. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts forecast that Viasat Inc. will post -0.28 EPS for the current year.

Insider Activity at Viasat

In other Viasat news, Director Theresa Wise sold 2,500 shares of Viasat stock in a transaction on Monday, June 8th. The shares were sold at an average price of $69.00, for a total transaction of $172,500.00. Following the completion of the transaction, the director directly owned 11,000 shares of the company's stock, valued at $759,000. The trade was a 18.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard A. Baldridge sold 27,122 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was 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 of the company's stock, valued at approximately $15,306,087.70. The trade was a 11.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 442,803 shares of company stock valued at $28,944,520 over the last three months. Corporate insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on VSAT shares. 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. Oppenheimer started coverage on Viasat in a report on Monday, June 29th. They issued an "outperform" rating and a $140.00 target price on the stock. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $97.00 target price on shares of Viasat in a research report on Monday, June 1st. Zacks Research upgraded Viasat from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Viasat in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Viasat currently has an average rating of "Moderate Buy" and a consensus target price of $84.11.

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.

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