Viasat (NASDAQ:VSAT) SVP Benjamin Edward Palmer Sells 2,000 Shares

Key Points

• Viasat SVP Benjamin Edward Palmer sold 2,000 shares at an average price of $66.75, generating $133,500. After the sale, he retained 30,087 shares, a 6.23% reduction in his ownership.
• Viasat shares rose 2.6% to $71.72, while the stock traded between a 12-month low of $26.10 and high of $93.03. The company has a market capitalization of approximately $9.88 billion.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $90.67. Institutional investors own about 86.05% of Viasat’s outstanding shares.

Viasat Inc. (NASDAQ:VSAT - Get Free Report) SVP Benjamin Palmer sold 2,000 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $66.75, for a total transaction of $133,500.00. Following the transaction, the senior vice president owned 30,087 shares of the company's stock, valued at approximately $2,008,307.25. This represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Benjamin Edward Palmer also recently made the following trade(s):

• On Monday, August 3rd, Benjamin Palmer sold 2,400 shares of Viasat stock. The shares were sold at an average price of $75.46, for a total value of $181,104.00.

Viasat Stock Up 2.6%

VSAT traded up $1.80 on Thursday, hitting $71.72. 1,759,755 shares of the company were exchanged, 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 company has a market cap of $9.88 billion, a PE ratio of -298.83 and a beta of 1.70. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.52 and a current ratio of 1.68. The stock's fifty day moving average is $75.58 and its 200-day moving average is $64.87.

Analysts Set New Price Targets

VSAT has been the subject of several analyst reports. Zacks Research raised shares of Viasat from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 29th. B. Riley Financial upped their price target on shares of 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 reiterated a "buy" rating and issued a $97.00 price target on shares of Viasat in a research note on Monday, June 1st. Oppenheimer started coverage on shares of Viasat in a research report on Monday, June 29th. They issued an "outperform" rating and a $140.00 price objective for the company. Finally, Needham & Company LLC boosted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $90.67.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in VSAT. BlackRock Inc. bought a new position in shares of Viasat in the second quarter valued at about $1,863,374,000. Jefferies Financial Group Inc. bought a new stake in shares of Viasat during the 4th quarter worth about $830,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Viasat in the 2nd quarter valued at about $11,902,000. South Dakota Investment Council grew its stake in Viasat by 92.6% in the 1st quarter. South Dakota Investment Council now owns 336,056 shares of the communications equipment provider's stock valued at $15,391,000 after buying an additional 161,552 shares during the last quarter. Finally, Everett Harris & Co. CA bought a new position in Viasat in the 2nd quarter valued at about $5,423,000. 86.05% of the stock is owned by institutional investors and hedge funds.

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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