Viasat (NASDAQ:VSAT) Director John Stenbit Sells 705 Shares of Stock

Key Points

• Director John Stenbit sold 705 Viasat shares at an average price of $66.75, generating $47,058.75. His remaining position fell 56.4% to 545 shares.
• Viasat shares traded at $71.72, within a 12-month range of $26.10 to $93.03. Analysts maintain a consensus “Moderate Buy” rating with a $90.67 target price.
• Institutional ownership is substantial at 86.05%, with major investors including BlackRock, California State Teachers Retirement System, and T. Rowe Price increasing or initiating positions.

Viasat Inc. (NASDAQ:VSAT - Get Free Report) Director John Stenbit sold 705 shares of the business's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $66.75, for a total value of $47,058.75. Following the completion of the transaction, the director owned 545 shares of the company's stock, valued at $36,378.75. This represents a 56.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Viasat Stock Performance

NASDAQ:VSAT traded up $1.80 during mid-day trading on Thursday, reaching $71.72. The company's stock had a trading volume of 1,759,755 shares, compared to its average volume of 2,082,908. Viasat Inc. has a 12-month low of $26.10 and a 12-month high of $93.03. The firm's fifty day moving average price is $75.58 and its two-hundred day moving average price is $64.87. 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 stock has a market cap of $9.88 billion, a P/E ratio of -298.83 and a beta of 1.70.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $97.00 target price on shares of Viasat in a report on Monday, June 1st. Zacks Research upgraded Viasat from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 29th. Morgan Stanley set a $95.00 price objective on Viasat in a research report on Monday, August 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of Viasat in a report on Friday, July 17th. Finally, Barclays set a $49.00 target price on Viasat in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.67.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Viasat during the 2nd quarter valued at approximately $1,863,374,000. California State Teachers Retirement System raised its stake in Viasat by 8,886.4% during the 2nd quarter. California State Teachers Retirement System now owns 12,015,500 shares of the communications equipment provider's stock worth $1,079,112,000 after acquiring an additional 11,881,792 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Viasat by 2,821.7% during the fourth 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 purchasing an additional 3,112,670 shares in the last quarter. Bank of America Corp DE purchased a new position in Viasat during the second quarter valued at approximately $127,283,000. Finally, Millennium Management LLC boosted its position in shares of Viasat by 673.7% in 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 period. 86.05% of the stock is owned by hedge funds and other institutional investors.

About Viasat

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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