Viavi Solutions Inc. (NASDAQ:VIAV) Shares Sold by Jane Street Group LLC

Jane Street Group LLC cut its holdings in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 68.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 132,470 shares of the communications equipment provider's stock after selling 283,023 shares during the period. Jane Street Group LLC owned 0.06% of Viavi Solutions worth $1,338,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in Viavi Solutions by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,334,893 shares of the communications equipment provider's stock worth $33,682,000 after purchasing an additional 139,934 shares during the period. Amundi increased its holdings in shares of Viavi Solutions by 185.5% during the 4th quarter. Amundi now owns 111,730 shares of the communications equipment provider's stock worth $1,132,000 after buying an additional 72,599 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Viavi Solutions by 836.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider's stock worth $84,000 after buying an additional 7,434 shares during the period. Marshall Wace LLP boosted its holdings in Viavi Solutions by 201.2% in the fourth quarter. Marshall Wace LLP now owns 49,200 shares of the communications equipment provider's stock valued at $497,000 after acquiring an additional 32,867 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Viavi Solutions by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 1,075,675 shares of the communications equipment provider's stock valued at $10,864,000 after acquiring an additional 29,621 shares during the last quarter. Hedge funds and other institutional investors own 95.54% of the company's stock.

Insider Activity

In related news, SVP Luke M. Scrivanich sold 14,323 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $11.24, for a total value of $160,990.52. Following the completion of the transaction, the senior vice president now owns 55,877 shares of the company's stock, valued at approximately $628,057.48. This represents a 20.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard Belluzzo sold 8,385 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $8.92, for a total value of $74,794.20. Following the completion of the transaction, the director now directly owns 259,081 shares in the company, valued at approximately $2,311,002.52. The trade was a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,549 shares of company stock worth $485,916 over the last ninety days. Corporate insiders own 1.52% of the company's stock.

Viavi Solutions Price Performance

VIAV remained flat at $9.09 during trading hours on Friday. 1,989,526 shares of the company were exchanged, compared to its average volume of 1,881,849. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $12.91. The firm has a market cap of $2.03 billion, a P/E ratio of -50.50 and a beta of 0.92. The company has a current ratio of 3.55, a quick ratio of 3.18 and a debt-to-equity ratio of 0.94. The business's fifty day moving average price is $10.11 and its two-hundred day moving average price is $10.51.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Northland Securities reissued an "outperform" rating and set a $14.00 target price (up previously from $13.00) on shares of Viavi Solutions in a research report on Friday, January 31st. Needham & Company LLC reissued a "buy" rating and issued a $15.00 target price on shares of Viavi Solutions in a research note on Friday, May 2nd. Morgan Stanley reduced their target price on shares of Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Argus increased their price target on Viavi Solutions from $13.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Finally, B. Riley cut their price objective on Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $12.69.

About Viavi Solutions

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.