Cpp Investment Board Private H Sells 3,750,000 Shares of Viasat, Inc. (NASDAQ:VSAT) Stock

Viasat, Inc. (NASDAQ:VSAT) insider Cpp Investment Board Private H sold 3,750,000 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $9.00, for a total transaction of $33,750,000.00. Following the completion of the sale, the insider now directly owns 4,795,334 shares in the company, valued at approximately $43,158,006. The trade was a 43.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Viasat Trading Up 1.7 %

Shares of VSAT stock opened at $8.98 on Thursday. The business has a 50-day moving average price of $9.33 and a two-hundred day moving average price of $11.73. Viasat, Inc. has a 12-month low of $6.69 and a 12-month high of $26.70. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.28. The firm has a market cap of $1.15 billion, a P/E ratio of -2.67 and a beta of 1.35.

Viasat (NASDAQ:VSAT) last issued its earnings results on Thursday, February 6th. The communications equipment provider reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.70). Viasat had a negative return on equity of 8.28% and a negative net margin of 9.49%. Equities analysts anticipate that Viasat, Inc. will post -2.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Viasat

Several institutional investors and hedge funds have recently made changes to their positions in VSAT. Landscape Capital Management L.L.C. lifted its stake in Viasat by 153.5% in the fourth quarter. Landscape Capital Management L.L.C. now owns 150,636 shares of the communications equipment provider’s stock worth $1,282,000 after purchasing an additional 91,210 shares during the last quarter. Trexquant Investment LP lifted its stake in shares of Viasat by 63.1% in the 4th quarter. Trexquant Investment LP now owns 456,162 shares of the communications equipment provider’s stock valued at $3,882,000 after acquiring an additional 176,407 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Viasat during the 4th quarter valued at about $626,000. New Age Alpha Advisors LLC bought a new position in Viasat during the 4th quarter worth approximately $35,000. Finally, Norges Bank purchased a new position in Viasat in the 4th quarter worth approximately $142,000. Institutional investors own 86.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of Viasat in a research note on Monday. Cantor Fitzgerald started coverage on Viasat in a research note on Friday, January 24th. They set a “neutral” rating and a $12.00 price objective for the company. Barclays reduced their target price on Viasat from $24.00 to $9.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 20th. William Blair reaffirmed a “market perform” rating on shares of Viasat in a report on Friday, February 7th. Finally, Morgan Stanley cut their price objective on Viasat from $26.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.43.

Viasat Company Profile

Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband internet access and voice over internet protocol services to consumers and businesses; in-flight entertainment and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.