Hsbc Holdings PLC lifted its holdings in Viasat Inc. (NASDAQ:VSAT - Free Report) by 630.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,751 shares of the communications equipment provider's stock after acquiring an additional 105,952 shares during the period. Hsbc Holdings PLC owned 0.09% of Viasat worth $5,651,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted 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 worth $111,065,000 after purchasing an additional 3,112,670 shares in the last quarter. Millennium Management LLC grew its holdings in Viasat by 673.7% during the 1st quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider's stock valued at $14,443,000 after buying an additional 1,206,935 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of 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 last quarter. Dimensional Fund Advisors LP raised its position in shares of Viasat by 43.5% during the third quarter. Dimensional Fund Advisors LP now owns 3,307,187 shares of the communications equipment provider's stock valued at $96,890,000 after buying an additional 1,002,737 shares during the last quarter. Finally, 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. Hedge funds and other institutional investors own 86.05% of the company's stock.
Insiders Place Their Bets
In related news, Director John P. Stenbit sold 528 shares of the firm's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $88.79, for a total value of $46,881.12. Following the completion of the sale, the director directly owned 722 shares in the company, valued at $64,106.38. This trade represents a 42.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Theresa Wise sold 2,500 shares of Viasat stock in a transaction on Monday, June 8th. The stock was sold at an average price of $69.00, for a total transaction of $172,500.00. Following 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 438,803 shares of company stock worth $28,655,600. 2.20% of the stock is currently owned by company insiders.
Viasat Stock Down 0.1%
Shares of NASDAQ VSAT opened at $74.27 on Friday. The firm's 50-day moving average price is $72.00 and its 200-day moving average price is $58.02. 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 stock has a market capitalization of $10.14 billion, a price-to-earnings ratio of -256.10 and a beta of 1.70. Viasat Inc. has a 12-month low of $14.11 and a 12-month high of $93.03.
Viasat (NASDAQ:VSAT - Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.34). Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.The company had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the prior year, the business posted ($0.02) EPS. The company's revenue was up 2.1% on a year-over-year basis. On average, equities research analysts anticipate that Viasat Inc. will post -0.39 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on VSAT. Weiss Ratings reiterated a "sell (d-)" rating on shares of Viasat in a report on Friday, July 17th. Raymond James Financial set a $74.00 price objective on Viasat and gave the company an "outperform" rating in a research report on Friday, April 24th. Barclays set a $49.00 target price on Viasat in a report on Friday, May 29th. Needham & Company LLC boosted their target price on Viasat from $58.00 to $90.00 and gave the stock a "buy" rating in a research report on Monday, June 1st. Finally, Zacks Research lowered Viasat from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Viasat presently has an average rating of "Moderate Buy" and a consensus target price of $84.11.
Read Our Latest Stock Analysis on VSAT
Viasat 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.
See Also
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.
Before you consider Viasat, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Viasat wasn't on the list.
While Viasat currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Get This Free Report
