Viasat (NASDAQ:VSAT) Stock Price Down 7.4% – Should You Sell?

Viasat Inc. (NASDAQ:VSAT)’s share price dropped 7.4% during mid-day trading on Friday . The company traded as low as $48.38 and last traded at $48.2590. Approximately 714,975 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 1,705,169 shares. The stock had previously closed at $52.12.

Analyst Ratings Changes

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

Viasat Price Performance

The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.90 and a current ratio of 2.13. The company has a 50-day moving average of $45.42 and a 200-day moving average of $38.27. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of -17.91 and a beta of 1.44.

Insider Buying and Selling at Viasat

In related news, CAO Camellia E. Fitzgerald sold 2,810 shares of the 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 sale, the chief accounting officer owned 9,946 shares of the company’s stock, valued at $477,408. This trade represents a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert James Blair sold 30,411 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $47.04, for a total transaction of $1,430,533.44. Following the completion of the transaction, the senior vice president directly owned 38,108 shares of the company’s stock, valued at $1,792,600.32. The trade was a 44.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 140,881 shares of company stock valued at $5,973,317. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Viasat

Several institutional investors and hedge funds have recently modified their holdings of VSAT. GAMMA Investing LLC grew its stake in Viasat by 15.9% in 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 period. Vise Technologies Inc. lifted its stake in shares of Viasat by 4.8% during the 4th 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 during the period. CWM LLC boosted 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 boosted its holdings in shares of Viasat by 0.8% during the fourth quarter. State of Tennessee Department of Treasury now owns 46,952 shares of the communications equipment provider’s stock worth $1,618,000 after purchasing an additional 350 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position 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 purchasing an additional 361 shares during the period. Hedge funds and other institutional investors 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.