Viasat (NASDAQ:VSAT) Stock: Insider Craig Andrew Miller Sells 11,893 Shares

Viasat Inc. (NASDAQ:VSAT) SVP Craig Miller sold 11,893 shares of the business’s stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $71.61, for a total transaction of $851,657.73. Following the sale, the senior vice president directly owned 41,570 shares of the company’s stock, valued at approximately $2,976,827.70. This trade represents a 22.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Viasat Trading Down 7.7%

Shares of NASDAQ VSAT opened at $61.73 on Thursday. Viasat Inc. has a fifty-two week low of $29.13 and a fifty-two week high of $93.03. The firm has a market capitalization of $8.50 billion, a P/E ratio of -257.21 and a beta of 1.76. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.68 and a quick ratio of 1.52. The company’s 50 day simple moving average is $73.74 and its 200 day simple moving average is $70.11.

Viasat (NASDAQ:VSAT) last released its earnings results on Tuesday, August 4th. The communications equipment provider reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.07. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.20 billion. Viasat had a negative net margin of 0.64% and a positive return on equity of 1.44%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 EPS. On average, analysts predict that Viasat Inc. will post -0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

VSAT has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a research note on Friday, July 17th. Needham & Company LLC increased their target price on Viasat from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Oppenheimer initiated coverage on Viasat in a research note on Monday, June 29th. They issued an “outperform” rating and a $140.00 target price on the stock. Wall Street Zen cut Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Zacks Research upgraded Viasat from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Viasat presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.67.

Institutional Investors Weigh In On Viasat

Large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Viasat in the second quarter valued at approximately $1,863,374,000. Bank of America Corp DE bought a new stake in shares of Viasat during the second quarter worth $127,283,000. Tema ETFs LLC raised its holdings in shares of Viasat by 229,857.1% during the second quarter. Tema ETFs LLC now owns 965,820 shares of the communications equipment provider’s stock worth $86,740,000 after acquiring an additional 965,400 shares during the period. Tidal Investments LLC raised its holdings in shares of Viasat by 8,261.7% during the second quarter. Tidal Investments LLC now owns 976,646 shares of the communications equipment provider’s stock worth $87,713,000 after acquiring an additional 964,966 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Viasat during the second quarter worth $80,124,000. Institutional investors own 86.05% of the company’s stock.

Viasat Company Profile

Viasat, Inc is a communications company that provides satellite connectivity and related services to commercial, government and consumer customers. Its offerings include broadband internet, in-flight connectivity, maritime communications, enterprise networking and secure communications for government and defense applications.

The company operates a fleet of communications satellites and develops supporting ground infrastructure, network services and connectivity equipment. Viasat serves customers across North America, Europe, the Middle East, Africa, Asia-Pacific and other international markets, including airlines, shipping companies, businesses, government agencies and households in areas where terrestrial broadband is limited.

Viasat was founded in 1986 and is headquartered in Carlsbad, California.