Richard A. Baldridge Sells 35,000 Shares of ViaSat, Inc. (NASDAQ:VSAT) Stock
ViaSat, Inc. (NASDAQ:VSAT) COO Richard A. Baldridge sold 35,000 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $59.92, for a total transaction of $2,097,200.00. Following the completion of the transaction, the chief operating officer now directly owns 59,000 shares in the company, valued at $3,535,280. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
ViaSat, Inc. (VSAT) traded down 0.64% during trading on Friday, reaching $60.54. 1,024,300 shares of the company were exchanged. ViaSat, Inc. has a one year low of $57.75 and a one year high of $82.19. The firm’s 50 day moving average price is $65.28 and its 200-day moving average price is $65.58. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 262.08 and a beta of 0.68.
ViaSat (NASDAQ:VSAT) last posted its quarterly earnings data on Tuesday, August 8th. The communications equipment provider reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.03. The company had revenue of $380 million during the quarter, compared to the consensus estimate of $384.29 million. ViaSat had a return on equity of 1.21% and a net margin of 0.82%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $0.23 earnings per share. On average, equities research analysts predict that ViaSat, Inc. will post $0.05 earnings per share for the current year.
VSAT has been the topic of several research analyst reports. B. Riley set a $89.00 price objective on shares of ViaSat and gave the company a “buy” rating in a research report on Wednesday, June 14th. Zacks Investment Research lowered shares of ViaSat from a “hold” rating to a “sell” rating in a research report on Friday, May 26th. Cowen and Company raised shares of ViaSat from a “market perform” rating to an “outperform” rating in a research report on Saturday, June 3rd. Royal Bank Of Canada set a $48.00 price objective on shares of ViaSat and gave the company a “sell” rating in a research report on Saturday, May 6th. Finally, TheStreet raised shares of ViaSat from a “c” rating to a “b-” rating in a research report on Tuesday, May 23rd. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. ViaSat presently has a consensus rating of “Hold” and an average price target of $76.45.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Independent Portfolio Consultants Inc. bought a new position in ViaSat during the first quarter valued at $163,000. Geode Capital Management LLC boosted its position in ViaSat by 10.9% in the first quarter. Geode Capital Management LLC now owns 437,084 shares of the communications equipment provider’s stock valued at $27,894,000 after buying an additional 42,961 shares during the period. Legal & General Group Plc boosted its position in ViaSat by 26.6% in the first quarter. Legal & General Group Plc now owns 35,347 shares of the communications equipment provider’s stock valued at $2,254,000 after buying an additional 7,428 shares during the period. Guggenheim Capital LLC boosted its position in ViaSat by 40.4% in the fourth quarter. Guggenheim Capital LLC now owns 18,115 shares of the communications equipment provider’s stock valued at $1,199,000 after buying an additional 5,211 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in ViaSat by 1.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 18,039 shares of the communications equipment provider’s stock valued at $1,151,000 after buying an additional 300 shares during the period. Institutional investors own 94.17% of the company’s stock.
ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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