Insider Selling: Viasat (NASDAQ:VSAT) CFO Sells $307,640.00 in Stock

Key Points

• Viasat CFO Garrett Chase sold 4,000 shares at an average price of $76.91, generating $307,640. After the sale, he directly owned 51,534 shares, a 7.2% reduction in his holdings.
• Viasat shares traded at $73.68, with a market capitalization of approximately $10.15 billion. The stock’s 12-month range is $26.10 to $93.03.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $90.67, while institutional investors own approximately 86.05% of the company.

Viasat Inc. (NASDAQ:VSAT - Get Free Report) CFO Garrett Chase sold 4,000 shares of Viasat stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $76.91, for a total transaction of $307,640.00. Following the completion of the transaction, the chief financial officer directly owned 51,534 shares of the company's stock, valued at $3,963,479.94. This trade represents a 7.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Viasat Stock Performance

VSAT traded down $1.31 on Wednesday, hitting $73.68. 1,708,733 shares of the company's stock were exchanged, compared to its average volume of 2,066,101. The firm has a market cap of $10.15 billion, a PE ratio of -307.00 and a beta of 1.70. Viasat Inc. has a twelve month low of $26.10 and a twelve month high of $93.03. The stock has a fifty day moving average of $75.17 and a two-hundred day moving average of $67.54. The company has a current ratio of 1.68, a quick ratio of 1.52 and a debt-to-equity ratio of 1.23.

Analysts Set New Price Targets

A number of research firms have issued reports on VSAT. Wall Street Zen cut Viasat from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Oppenheimer started coverage on shares of Viasat in a report on Monday, June 29th. They issued an "outperform" rating and a $140.00 price objective on the stock. Zacks Research upgraded shares of Viasat from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Viasat in a research note on Friday, July 17th. 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 assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Viasat currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.67.

Hedge Funds Weigh In On Viasat

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bullseye Investment Management LLC purchased a new stake in shares of Viasat in the 2nd quarter valued at approximately $37,000. Sequoia Financial Advisors LLC purchased a new position in Viasat during the 2nd quarter worth approximately $222,000. Tidal Investments LLC raised its stake in Viasat by 8,261.7% during the 2nd quarter. Tidal Investments LLC now owns 976,646 shares of the communications equipment provider's stock valued at $87,713,000 after purchasing an additional 964,966 shares during the period. Engineers Gate Manager LP acquired a new stake in Viasat during the 2nd quarter valued at $281,000. Finally, Integrated Wealth Concepts LLC lifted its holdings in shares of Viasat by 74.1% in the second quarter. Integrated Wealth Concepts LLC now owns 10,951 shares of the communications equipment provider's stock valued at $984,000 after purchasing an additional 4,660 shares in the last quarter. Institutional investors own 86.05% of the company's stock.

About Viasat

Viasat, Inc is a communications company that provides satellite-based connectivity and related services to consumers, businesses, governments and other organizations. The company develops and operates satellite networks, ground infrastructure and connectivity systems designed to deliver broadband, communications and data services in locations where terrestrial networks may be limited.

Viasat's offerings include residential and community internet access, in-flight connectivity for commercial and business aviation, maritime communications, and connectivity solutions for government and defense customers.

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