Viasat (NASDAQ:VSAT) Sets New 52-Week High - Still a Buy?

Key Points

• Viasat's shares hit a new 52-week high, trading as high as $65.60 (last at $64.98) on Thursday with about 1.19 million shares changing hands.
• Analyst sentiment is mixed but overall positive: six Buys, one Hold and one Sell yield an average rating of Moderate Buy and an average target price of $60.57, with several recent target increases (e.g., Raymond James $74, Needham $58).
• Insiders sold roughly 38,071 shares (~$1.8M) over the last quarter while institutional ownership stands at 86.05%; the company has a market cap of $8.95B, a negative P/E (-25.45) and a debt/equity ratio of 1.35.

Viasat Inc. (NASDAQ:VSAT - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $65.60 and last traded at $64.9840, with a volume of 1191881 shares changing hands. The stock had previously closed at $59.28.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Viasat in a report on Monday, April 20th. Raymond James Financial set a $74.00 target price on shares of Viasat and gave the company an "outperform" rating in a report on Friday, April 24th. Barclays raised shares of Viasat from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $23.00 to $49.00 in a report on Wednesday, April 8th. Needham & Company LLC boosted their target price on shares of Viasat from $45.00 to $58.00 and gave the company a "buy" rating in a report on Friday, March 27th. Finally, William Blair reissued an "outperform" rating on shares of Viasat in a report on Tuesday, January 13th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Viasat currently has an average rating of "Moderate Buy" and an average target price of $60.57.

Viasat Stock Performance

The company has a 50-day moving average price of $51.54 and a two-hundred day moving average price of $43.05. The stock has a market capitalization of $8.95 billion, a P/E ratio of -25.45 and a beta of 1.45. The company has a quick ratio of 1.90, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

Insider Transactions at Viasat

In other news, SVP Benjamin Edward Palmer sold 2,400 shares of the company's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $46.21, for a total value of $110,904.00. Following the transaction, the senior vice president owned 25,431 shares of the company's stock, valued at approximately $1,175,166.51. This represents a 8.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Robert James Blair sold 30,411 shares of the company's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $47.04, for a total transaction of $1,430,533.44. Following the completion of the transaction, the senior vice president directly owned 38,108 shares in the company, valued at approximately $1,792,600.32. The trade was a 44.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 38,071 shares of company stock valued at $1,804,437. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Quent Capital LLC bought a new position in shares of Viasat in the third quarter worth approximately $25,000. Valued Wealth Advisors LLC bought a new position in shares of Viasat in the first quarter worth approximately $25,000. Hantz Financial Services Inc. increased its position in shares of Viasat by 6,815.4% in the third quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider's stock worth $26,000 after purchasing an additional 886 shares during the last quarter. Salomon & Ludwin LLC bought a new position in Viasat in the third quarter valued at $28,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Viasat in the fourth quarter valued at $36,000. 86.05% of the stock is currently owned by institutional investors.

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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