Tema ETFs LLC Has $86.74 Million Stake in Viasat Inc. $VSAT

Key Points

• Tema ETFs LLC dramatically increased its Viasat stake by purchasing 965,400 additional shares in the second quarter, bringing its total to 965,820 shares valued at $86.74 million, or about 0.71% of VSAT.
• Institutional ownership remains high, with hedge funds and other institutional investors holding 86.05% of Viasat’s shares. Several major firms, including T. Rowe Price, Millennium Management, Goldman Sachs and Dimensional Fund Advisors, also increased their positions.
• Viasat reported quarterly revenue of $1.17 billion but missed earnings expectations, posting an EPS loss of $0.02 versus the expected $0.32 profit. Analysts maintain a “Moderate Buy” consensus with an average price target of $90.67, while insiders sold $47.4 million of stock over the past three months.

Tema ETFs LLC lifted its position in Viasat Inc. (NASDAQ:VSAT - Free Report) by 229,857.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 965,820 shares of the communications equipment provider's stock after purchasing an additional 965,400 shares during the quarter. Viasat comprises about 2.8% of Tema ETFs LLC's investment portfolio, making the stock its 4th biggest position. Tema ETFs LLC owned about 0.71% of Viasat worth $86,740,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in VSAT. Price T Rowe Associates Inc. MD grew its holdings in Viasat by 2,821.7% during 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 buying an additional 3,112,670 shares in the last quarter. Millennium Management LLC increased its stake in Viasat by 673.7% in the 1st quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider's stock worth $14,443,000 after acquiring an additional 1,206,935 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Viasat by 64.9% during 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 acquiring an additional 1,128,338 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Viasat by 43.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,307,187 shares of the communications equipment provider's stock valued at $96,890,000 after acquiring an additional 1,002,737 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its position in shares of Viasat by 15.8% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,845,100 shares of the communications equipment provider's stock valued at $85,338,000 after acquiring an additional 796,349 shares during the last quarter. 86.05% of the stock is currently owned by hedge funds and other institutional investors.

Viasat Price Performance

Shares of VSAT stock opened at $84.52 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.68 and a quick ratio of 1.52. The company has a market capitalization of $11.64 billion, a P/E ratio of -352.17 and a beta of 1.72. The company's 50-day simple moving average is $72.77 and its two-hundred day simple moving average is $61.41. Viasat Inc. has a one year low of $25.50 and a one year high of $93.03.

Viasat (NASDAQ:VSAT - Get Free Report) last posted its quarterly 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). The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.20 billion. Viasat had a negative net margin of 0.64% and a positive return on equity of 1.44%. The business's revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.02) EPS. As a group, equities analysts anticipate that Viasat Inc. will post -0.28 EPS for the current year.

Wall Street Analyst Weigh In

VSAT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $97.00 price target on shares of Viasat in a research report on Monday, June 1st. Raymond James Financial set a $74.00 price objective on shares of Viasat and gave the company an "outperform" rating in a research report on Friday, April 24th. Morgan Stanley set a $95.00 price objective on shares of Viasat in a research note on Monday. Weiss Ratings restated a "sell (d-)" rating on shares of Viasat in a research report on Friday, July 17th. Finally, Barclays set a $49.00 price target on shares of Viasat in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $90.67.

Insider Activity at Viasat

In other news, CFO Garrett L. Chase sold 4,000 shares of the stock in a transaction on 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 owned 34,239 shares of the company's stock, valued at approximately $2,136,855.99. This represents a 10.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Theresa Wise sold 2,500 shares of the firm's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $69.00, for a total value of $172,500.00. Following the transaction, the director owned 11,000 shares in the company, valued at approximately $759,000. This represents a 18.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 671,861 shares of company stock worth $47,405,788 over the last three months. Corporate insiders own 1.40% of the company's stock.

Viasat 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.

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