Viasat (NASDAQ:VSAT) Shares Break Above 200-Day Moving Average - Here's Why

Key Points

• Viasat shares broke above their 200-day moving average, reaching $68.34 and last trading at $66.39, compared with the $62.92 moving average.
• Analyst sentiment is generally positive: Viasat has an average “Moderate Buy” rating and a consensus price target of $90.67, though ratings range from “Sell” to “Strong Buy.”
• Quarterly EPS of $0.17 exceeded estimates of $0.10, but revenue of $1.16 billion fell short of expectations and declined 1.2% year over year; insiders sold approximately $20.5 million of stock during the last quarter.

Shares of Viasat Inc. (NASDAQ:VSAT - Get Free Report) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $62.92 and traded as high as $68.34. Viasat shares last traded at $66.39, with a volume of 1,920,003 shares.

Wall Street Analyst Weigh In

VSAT has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Viasat from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Morgan Stanley set a $95.00 price objective on shares of Viasat in a research report on Monday, August 10th. Needham & Company LLC boosted their target price on shares of Viasat from $90.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Zacks Research upgraded shares of Viasat from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 29th. Finally, Oppenheimer began coverage on shares of Viasat in a research note on Monday, June 29th. They set an "outperform" rating and a $140.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Viasat currently has an average rating of "Moderate Buy" and an average price target of $90.67.

Viasat Price Performance

The firm has a market cap of $9.15 billion, a PE ratio of -276.62 and a beta of 1.76. The firm has a fifty day simple moving average of $70.35 and a two-hundred day simple moving average of $62.92. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.52 and a current ratio of 1.68.

Viasat (NASDAQ:VSAT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.07. Viasat had a positive return on equity of 1.44% and a negative net margin of 0.64%. The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the prior year, the firm earned $0.17 EPS. The company's revenue for the quarter was down 1.2% on a year-over-year basis. Equities analysts predict that Viasat Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity at Viasat

In related news, SVP Benjamin Palmer sold 2,000 shares of the company's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $69.87, for a total transaction of $139,740.00. Following the sale, the senior vice president owned 28,087 shares of the company's stock, valued at $1,962,438.69. This represents a 6.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Craig Miller sold 11,893 shares of the stock in a transaction on Friday, October 9th. The shares were sold at an average price of $71.61, for a total transaction of $851,657.73. Following the transaction, the senior vice president owned 41,570 shares of the company's stock, valued at $2,976,827.70. This trade represents a 22.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 257,656 shares of company stock valued at $20,475,905 over the last quarter. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Oppenheimer & Co. Inc. bought a new position in shares of Viasat during the 3rd quarter valued at approximately $399,000. Fifth Third Wealth Advisors LLC raised its holdings in Viasat by 54.2% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,607 shares of the communications equipment provider's stock valued at $254,000 after buying an additional 1,268 shares during the period. Inspire Investing LLC lifted its position in Viasat by 72.9% in the third quarter. Inspire Investing LLC now owns 13,396 shares of the communications equipment provider's stock worth $943,000 after buying an additional 5,647 shares during the last quarter. Root Financial Partners LLC bought a new stake in Viasat in the third quarter worth $38,000. Finally, Crossmark Global Holdings Inc. lifted its position in Viasat by 34.1% in the third quarter. Crossmark Global Holdings Inc. now owns 6,766 shares of the communications equipment provider's stock worth $476,000 after buying an additional 1,722 shares during the last quarter. Institutional investors own 86.05% of the company's stock.

Viasat Company Profile

Viasat, Inc is a communications technology company that provides satellite-based connectivity and related services to commercial, government and consumer customers. The company's offerings include high-speed broadband, satellite communications, network services and connectivity solutions designed for locations where terrestrial networks may be limited or unavailable.

Viasat serves the aviation, maritime, residential broadband, enterprise and government markets. Its services support in-flight internet for commercial and business aircraft, connectivity for ships and offshore operations, broadband access for homes and communities, and secure communications for government and defense customers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.