Viasat (NASDAQ:VSAT) Hits New 1-Year High – What’s Next?

by · The Markets Daily

Shares of Viasat Inc. (NASDAQ:VSATGet Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $50.70 and last traded at $50.18, with a volume of 2146188 shares traded. The stock had previously closed at $47.53.

Wall Street Analysts Forecast Growth

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

View Our Latest Stock Report on Viasat

Viasat Stock Up 5.6%

The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of -19.37 and a beta of 1.44. The business has a fifty day simple moving average of $44.68 and a two-hundred day simple moving average of $37.83. 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 Activity at Viasat

In other Viasat news, CAO Camellia E. Fitzgerald sold 2,810 shares of Viasat stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $48.00, for a total transaction of $134,880.00. Following the completion of the transaction, the chief accounting officer directly owned 9,946 shares of the company’s stock, valued at approximately $477,408. This trade represents a 22.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark D. Dankberg sold 100,000 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $40.34, for a total transaction of $4,034,000.00. Following the completion of the sale, the chief executive officer directly owned 1,434,993 shares in the company, valued at approximately $57,887,617.62. The trade was a 6.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 105,210 shares of company stock valued at $4,279,784 in the last 90 days. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its position in Viasat by 15.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,387 shares of the communications equipment provider’s stock worth $70,000 after acquiring an additional 327 shares during the last quarter. Vise Technologies Inc. boosted its stake in Viasat by 4.8% in the fourth quarter. Vise Technologies Inc. now owns 7,446 shares of the communications equipment provider’s stock worth $257,000 after purchasing an additional 342 shares in the last quarter. CWM LLC grew its holdings in shares of Viasat by 1.8% during the fourth quarter. CWM LLC now owns 19,360 shares of the communications equipment provider’s stock worth $667,000 after purchasing an additional 349 shares during the last quarter. State of Tennessee Department of Treasury raised its holdings in shares of Viasat by 0.8% in the fourth quarter. State of Tennessee Department of Treasury now owns 46,952 shares of the communications equipment provider’s stock valued at $1,618,000 after buying an additional 350 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Viasat by 1.9% in the third quarter. Victory Capital Management Inc. now owns 19,145 shares of the communications equipment provider’s stock valued at $561,000 after buying an additional 361 shares during the last quarter. Institutional investors own 86.05% of the company’s stock.

About Viasat

(Get Free Report)

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.

Recommended Stories