Viasat (NASDAQ:VSAT) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?
by Doug Wharley · The Cerbat GemShares of Viasat Inc. (NASDAQ:VSAT – Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $27.55 and traded as high as $35.76. Viasat shares last traded at $35.0450, with a volume of 647,861 shares traded.
Wall Street Analyst Weigh In
VSAT has been the subject of several analyst reports. Barclays reiterated an “underweight” rating and issued a $23.00 target price (up from $10.00) on shares of Viasat in a research note on Wednesday, October 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a research note on Wednesday, October 8th. Needham & Company LLC increased their target price on Viasat from $25.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Raymond James Financial upgraded Viasat from a “market perform” rating to an “outperform” rating and set a $52.00 target price on the stock in a report on Monday, November 10th. Finally, JPMorgan Chase & Co. upgraded shares of Viasat from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $23.00 to $50.00 in a research note on Tuesday, November 11th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $32.75.
View Our Latest Research Report on Viasat
Viasat Stock Down 2.9%
The firm has a fifty day simple moving average of $35.70 and a 200-day simple moving average of $27.60. The company has a market capitalization of $4.61 billion, a PE ratio of -8.55 and a beta of 1.37. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.84 and a current ratio of 2.08.
Viasat (NASDAQ:VSAT – Get Free Report) last released its quarterly earnings results on Saturday, November 8th. The communications equipment provider reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.20. Viasat had a negative net margin of 11.40% and a negative return on equity of 3.65%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the company earned ($0.23) earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts anticipate that Viasat Inc. will post -0.54 EPS for the current fiscal year.
Insider Transactions at Viasat
In other Viasat news, CAO Shawn Lynn Duffy sold 51,480 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $36.38, for a total transaction of $1,872,842.40. Following the transaction, the chief accounting officer owned 6,021 shares of the company’s stock, valued at $219,043.98. This trade represents a 89.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark D. Dankberg sold 200,000 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $35.09, for a total transaction of $7,018,000.00. Following the sale, the chief executive officer directly owned 1,534,993 shares in the company, valued at $53,862,904.37. This trade represents a 11.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 256,529 shares of company stock valued at $9,071,888 in the last three months. Corporate insiders own 2.20% of the company’s stock.
Institutional Investors Weigh In On Viasat
Several large investors have recently made changes to their positions in VSAT. Vanguard Group Inc. raised its stake in Viasat by 8.2% during the 3rd quarter. Vanguard Group Inc. now owns 16,962,958 shares of the communications equipment provider’s stock valued at $497,015,000 after acquiring an additional 1,289,024 shares in the last quarter. OCO Capital Partners L.P. raised its stake in shares of Viasat by 60.0% during the second quarter. OCO Capital Partners L.P. now owns 6,000,000 shares of the communications equipment provider’s stock valued at $87,600,000 after purchasing an additional 2,250,000 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in Viasat by 15.8% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,845,100 shares of the communications equipment provider’s stock worth $85,338,000 after purchasing an additional 796,349 shares during the period. Neuberger Berman Group LLC lifted its holdings in Viasat by 6.8% in the second quarter. Neuberger Berman Group LLC now owns 5,541,636 shares of the communications equipment provider’s stock worth $80,908,000 after purchasing an additional 351,404 shares during the period. Finally, American Century Companies Inc. grew its position in Viasat by 38.5% in the 3rd quarter. American Century Companies Inc. now owns 3,713,581 shares of the communications equipment provider’s stock valued at $108,808,000 after buying an additional 1,033,194 shares in the last quarter. Institutional investors and hedge funds 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.