Wellington Management Group LLP Has $26.87 Million Stake in Viasat Inc. $VSAT

Key Points

• Wellington Management nearly doubled its Viasat stake in the second quarter, purchasing 142,468 additional shares to own 299,210 shares valued at approximately $26.87 million, or 0.22% of the company. Institutional investors and hedge funds collectively own 86.05% of Viasat.
• Viasat insiders sold heavily: insiders sold 646,791 shares worth about $45.6 million over the past three months, including a $18.0 million sale by Director Richard Baldridge.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $90.67, compared with Viasat’s opening price of $75.32. Recent targets from several firms range from $97 to $106, though Weiss Ratings maintained a sell rating.

Wellington Management Group LLP raised its stake in shares of Viasat Inc. (NASDAQ:VSAT - Free Report) by 90.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 299,210 shares of the communications equipment provider's stock after purchasing an additional 142,468 shares during the period. Wellington Management Group LLP owned 0.22% of Viasat worth $26,872,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Valued Wealth Advisors LLC acquired a new stake in shares of Viasat in the first quarter valued at about $25,000. Aberdeen Wealth Management LLC acquired a new position in shares of Viasat in the second quarter worth approximately $30,000. Elevation Wealth Partners LLC boosted its holdings in Viasat by 935.3% in 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 last quarter. Los Angeles Capital Management LLC bought a new position in Viasat during the 4th quarter worth approximately $38,000. Finally, EFG International AG acquired a new position in shares of Viasat in the 4th quarter worth approximately $41,000. 86.05% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director John Stenbit sold 705 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $66.75, for a total transaction of $47,058.75. Following the transaction, the director directly owned 545 shares of the company's stock, valued at approximately $36,378.75. This represents a 56.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Baldridge sold 223,542 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $80.62, for a total value of $18,021,956.04. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 646,791 shares of company stock worth $45,603,368 over the last three months. Insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Needham & Company LLC lifted their target price on shares of Viasat from $90.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. New Street Research initiated coverage on Viasat in a report on Wednesday, May 13th. They set a "buy" rating and a $100.00 price target for the company. B. Riley Financial lifted their price objective on Viasat from $94.00 to $106.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $97.00 price objective on shares of Viasat in a research note on Monday, June 1st. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Viasat in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Viasat currently has an average rating of "Moderate Buy" and a consensus price target of $90.67.

Viasat Trading Up 5.0%

VSAT opened at $75.32 on Friday. Viasat Inc. has a 1-year low of $26.10 and a 1-year high of $93.03. The company has a current ratio of 1.68, a quick ratio of 1.52 and a debt-to-equity ratio of 1.23. The company has a market cap of $10.38 billion, a P/E ratio of -313.83 and a beta of 1.70. The company has a fifty day moving average price of $76.09 and a two-hundred day moving average price of $65.11.

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.

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