Viasat Inc. $VSAT Shares Sold by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. cut its Viasat stake by 9.7% in Q3, selling 48,723 shares and ending the quarter with 452,064 shares worth about $13.25 million.
• Other major institutions ramped up holdings—Royal Bank of Canada, AQR, Millennium and Goldman Sachs all materially increased positions (Millennium +673.7%)—leaving institutional investors with 86.05% of Viasat's stock.
• Insiders have been net sellers recently (CEO sold 200,000 shares; CAO sold 51,480; insiders sold 354,290 shares, ~ $13.06M, in the past 90 days), while analysts maintain a consensus Moderate Buy with an average target of $45.86.

JPMorgan Chase & Co. decreased its position in shares of Viasat Inc. (NASDAQ:VSAT - Free Report) by 9.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 452,064 shares of the communications equipment provider's stock after selling 48,723 shares during the quarter. JPMorgan Chase & Co. owned 0.34% of Viasat worth $13,245,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada lifted its stake in 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 acquiring an additional 90,680 shares during the period. AQR Capital Management LLC increased its stake 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 acquiring an additional 296,612 shares during the period. Millennium Management LLC raised its holdings in shares of Viasat by 673.7% during the first quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider's stock worth $14,443,000 after purchasing an additional 1,206,935 shares during the last quarter. Goldman Sachs Group Inc. lifted its position 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 purchasing an additional 1,128,338 shares during the period. Finally, Empowered Funds LLC boosted its holdings in Viasat by 6.9% in the first quarter. Empowered Funds LLC now owns 226,184 shares of the communications equipment provider's stock valued at $2,357,000 after purchasing an additional 14,575 shares during the last quarter. Institutional investors and hedge funds own 86.05% of the company's stock.

Viasat Stock Performance

NASDAQ:VSAT opened at $47.84 on Thursday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.90 and a current ratio of 2.13. The company has a fifty day moving average of $43.02 and a two-hundred day moving average of $36.79. The stock has a market capitalization of $6.50 billion, a PE ratio of -18.47 and a beta of 1.44. Viasat Inc. has a fifty-two week low of $7.36 and a fifty-two week high of $50.24.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Morgan Stanley set a $51.00 price objective on Viasat in a research note on Friday, January 16th. Needham & Company LLC reaffirmed a "buy" rating and set a $45.00 target price on shares of Viasat in a report on Wednesday, January 21st. JPMorgan Chase & Co. raised Viasat from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $23.00 to $50.00 in a report on Tuesday, November 11th. Deutsche Bank Aktiengesellschaft upgraded Viasat from a "hold" rating to a "buy" rating and upped their price objective for the stock from $36.00 to $48.00 in a research report on Friday, February 6th. Finally, William Blair reaffirmed an "outperform" rating on shares of Viasat in a report on Tuesday, January 13th. Six investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $45.86.

Insider Buying and Selling

In other Viasat news, CAO Shawn Lynn Duffy sold 51,480 shares of the business's stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $36.38, for a total transaction of $1,872,842.40. Following the completion of the sale, the chief accounting officer directly owned 6,021 shares in the company, valued at approximately $219,043.98. The trade was a 89.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark D. Dankberg sold 200,000 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $35.09, for a total value of $7,018,000.00. Following the transaction, the chief executive officer directly owned 1,534,993 shares of the company's stock, valued at $53,862,904.37. The trade was a 11.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 354,290 shares of company stock worth $13,059,722 in the last 90 days. Insiders own 2.20% of the company's stock.

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.

Want to see what other hedge funds are holding VSAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Viasat Inc. (NASDAQ:VSAT - Free Report).

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.