Tidal Investments LLC Buys 964,966 Shares of Viasat Inc. $VSAT

Tidal Investments LLC lifted its stake in Viasat Inc. (NASDAQ:VSAT) by 8,261.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 976,646 shares of the communications equipment provider’s stock after purchasing an additional 964,966 shares during the quarter. Tidal Investments LLC owned about 0.71% of Viasat worth $87,713,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Aberdeen Wealth Management LLC purchased a new position in Viasat during the second quarter worth $30,000. Elevation Wealth Partners LLC raised its stake 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. Rakuten Securities Inc. purchased a new stake in shares of Viasat in the second quarter valued at $43,000. Trust Co. of Vermont bought a new stake in shares of Viasat in the 2nd quarter worth about $46,000. Finally, Valued Wealth Advisors LLC purchased a new position in shares of Viasat during the 1st quarter worth about $25,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Wall Street Analysts Forecast Growth

VSAT has been the topic of several analyst reports. B. Riley Financial upped their price target on shares of Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a report on Friday, May 29th. Morgan Stanley set a $95.00 target price on Viasat in a research report on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a research note on Friday, July 17th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $97.00 price target on shares of Viasat in a research note on Monday, June 1st. Finally, Wall Street Zen cut Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. One investment 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.67.

Viasat Price Performance

Viasat stock opened at $72.36 on Thursday. The stock has a market cap of $9.97 billion, a price-to-earnings ratio of -301.50 and a beta of 1.70. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.68 and a quick ratio of 1.52. Viasat Inc. has a 1 year low of $26.10 and a 1 year high of $93.03. The firm has a 50-day moving average of $75.60 and a two-hundred day moving average of $65.84.

Insider Transactions at Viasat

In related news, Director Richard Baldridge sold 223,542 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $80.62, for a total value of $18,021,956.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John Stenbit sold 705 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $66.75, for a total value of $47,058.75. Following the transaction, the director owned 545 shares in the company, valued at $36,378.75. The trade was a 56.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 244,291 shares of company stock valued at $19,526,868 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Viasat 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.