Viasat (NASDAQ:VSAT) Shares Down 5.3% - Should You Sell?

Key Points

• Viasat shares fell 5.3% in Thursday trading, dropping from a prior close of $74.00 to around $70.10 as volume came in below average.
• Despite the pullback, Wall Street remains broadly constructive: analysts’ average rating is “Moderate Buy” with an average target price of $84.11, though views are mixed and range from Strong Buy to Strong Sell.
• The company’s latest earnings missed expectations, posting adjusted EPS of -$0.02 versus a $0.32 estimate, while revenue of $1.17 billion also came in slightly below forecasts; insiders have also been selling shares recently.

Viasat Inc. (NASDAQ:VSAT - Get Free Report) shares fell 5.3% during mid-day trading on Thursday . The company traded as low as $70.30 and last traded at $70.0980. Approximately 1,413,289 shares were traded during trading, a decline of 33% from the average session volume of 2,106,832 shares. The stock had previously closed at $74.00.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. B. Riley Financial upped their price objective 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. Barclays set a $49.00 price target on shares of Viasat in a research note on Friday, May 29th. Zacks Research lowered shares of Viasat from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 30th. Oppenheimer initiated coverage on shares of Viasat in a research report on Monday, June 29th. They set an "outperform" rating and a $140.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $97.00 price objective on shares of Viasat in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $84.11.

Viasat Price Performance

The company has a quick ratio of 2.19, a current ratio of 2.41 and a debt-to-equity ratio of 1.35. The business's 50-day simple moving average is $71.11 and its 200 day simple moving average is $55.22. The firm has a market capitalization of $9.58 billion, a P/E ratio of -241.87 and a beta of 1.70.

Viasat (NASDAQ:VSAT - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.34). Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period last year, the business posted ($0.02) earnings per share. The company's revenue was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that Viasat Inc. will post -0.39 earnings per share for the current year.

Insider Activity

In other news, Director Theresa Wise sold 2,500 shares of the firm's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $69.00, for a total transaction of $172,500.00. Following the transaction, the director directly owned 11,000 shares of the company's stock, valued at approximately $759,000. This trade represents a 18.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Garrett L. Chase sold 4,000 shares of the business's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $62.41, for a total value of $249,640.00. Following the completion of the sale, the chief financial officer directly owned 34,239 shares of the company's stock, valued at approximately $2,136,855.99. This trade represents a 10.46% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 438,803 shares of company stock valued at $28,655,600. Company insiders own 2.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VSAT. Valued Wealth Advisors LLC bought a new stake in Viasat during the 1st quarter valued at $25,000. Elevation Wealth Partners LLC increased its position in shares of Viasat by 935.3% in the second quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider's stock valued at $32,000 after acquiring an additional 318 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Viasat during the fourth quarter valued at about $36,000. Los Angeles Capital Management LLC bought a new position in shares of Viasat during the fourth quarter valued at about $38,000. Finally, EFG International AG purchased a new stake in shares of Viasat during the fourth quarter worth about $41,000. Institutional investors own 86.05% of the company's stock.

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.

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.