Viasat (NASDAQ:VSAT) SVP Benjamin Edward Palmer Sells 2,400 Shares

Key Points

• Viasat SVP Benjamin Edward Palmer sold 2,400 shares on March 12 at an average price of $46.21 (totaling $110,904), reducing his stake by 8.62% to 25,431 shares valued at about $1.175 million, according to an SEC filing.
• The stock traded at $47.53 on Monday (52‑week range $7.36–$50.24) with a $6.46 billion market cap, and analysts’ consensus is a “Moderate Buy” with an average target of $45.86 (six Buys, two Sells).

Viasat Inc. (NASDAQ:VSAT - Get Free Report) SVP Benjamin Edward Palmer sold 2,400 shares of the business's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $46.21, for a total value of $110,904.00. Following the completion of the transaction, the senior vice president owned 25,431 shares in the company, valued at $1,175,166.51. The trade was a 8.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Viasat Price Performance

Shares of NASDAQ:VSAT traded up $1.39 during trading on Monday, hitting $47.53. 1,904,079 shares of the company's stock were exchanged, compared to its average volume of 1,703,922. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.90. Viasat Inc. has a 52-week low of $7.36 and a 52-week high of $50.24. The business's 50-day simple moving average is $44.50 and its 200 day simple moving average is $37.72. The company has a market cap of $6.46 billion, a price-to-earnings ratio of -18.35 and a beta of 1.44.

Hedge Funds Weigh In On Viasat

A number of institutional investors and hedge funds have recently made changes to their positions in VSAT. Quent Capital LLC purchased a new stake in shares of Viasat during the 3rd quarter valued at about $25,000. Salomon & Ludwin LLC purchased a new position in Viasat in the third quarter worth about $28,000. Hantz Financial Services Inc. grew its position in 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 acquiring an additional 886 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in Viasat during the fourth quarter worth approximately $36,000. Finally, Los Angeles Capital Management LLC bought a new stake in Viasat during the fourth quarter worth approximately $38,000. 86.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on VSAT shares. William Blair restated an "outperform" rating on shares of Viasat in a research report on Tuesday, January 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Viasat in a report on Wednesday, January 21st. Morgan Stanley set a $51.00 price target on shares of Viasat in a research note on Friday, January 16th. Needham & Company LLC reissued a "buy" rating and set a $45.00 price objective on shares of Viasat in a report on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded Viasat from a "hold" rating to a "buy" rating and raised their price objective for the company from $36.00 to $48.00 in a research report on Friday, February 6th. Six analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $45.86.

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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