Jupiter Topco LLC Makes New Investment in Viasat Inc. $VSAT

Key Points

• Jupiter Topco LLC purchased 52,637 Viasat shares during the second quarter, valued at approximately $4.7 million. Institutional investors and hedge funds collectively own 86.05% of VSAT.
• Viasat insiders sold 675,861 shares worth about $47.7 million over the past three months, including sales by a senior vice president and a director.
• Analyst sentiment remains mixed but leans positive: Viasat has a consensus “Moderate Buy” rating and a $90.67 price target, despite shares opening at $67.27 and recent sell ratings from Wall Street Zen and Weiss Ratings.

Jupiter Topco LLC purchased a new stake in Viasat Inc. (NASDAQ:VSAT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 52,637 shares of the communications equipment provider's stock, valued at approximately $4,729,000.

A number of other institutional investors and hedge funds have also modified their holdings of VSAT. Versant Capital Management Inc grew its stake in Viasat by 4.4% in the 2nd 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 during the last quarter. Cetera Investment Advisers lifted its position 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 during the last quarter. Elevation Wealth Partners LLC boosted its holdings in Viasat by 935.3% during the second 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. Aberdeen Wealth Management LLC acquired a new stake in shares of Viasat in the second quarter valued at about $30,000. Finally, Vise Technologies Inc. increased its stake in shares of Viasat by 4.8% in 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. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 completion of the transaction, the senior vice president directly owned 21,159 shares in the company, valued at approximately $1,596,658.14. This represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Theresa Wise sold 2,500 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $84.69, for a total value of $211,725.00. Following the completion of the transaction, the director directly owned 11,000 shares of the company's stock, valued at approximately $931,590. This trade represents a 18.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 675,861 shares of company stock worth $47,705,388. 1.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

VSAT has been the subject of several recent analyst reports. Wall Street Zen downgraded Viasat from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Viasat in a research report on Friday, July 17th. Needham & Company LLC increased their price objective on Viasat from $90.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. B. Riley Financial raised their price objective 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. Finally, Morgan Stanley set a $95.00 target price on shares of Viasat in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $90.67.

Viasat Stock Down 0.1%

VSAT stock opened at $67.27 on Tuesday. Viasat Inc. has a twelve month low of $26.10 and a twelve month high of $93.03. The company has a quick ratio of 1.52, a current ratio of 1.68 and a debt-to-equity ratio of 1.23. The company has a market cap of $9.27 billion, a PE ratio of -280.29 and a beta of 1.72. The business's 50-day simple moving average is $75.38 and its 200 day simple moving average is $64.56.

Viasat Company Profile

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source