101,221 Shares in Viasat Inc. $VSAT Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC acquired a new position in shares of Viasat Inc. (NASDAQ:VSAT) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 101,221 shares of the communications equipment provider’s stock, valued at approximately $4,578,000. Allspring Global Investments Holdings LLC owned approximately 0.07% of Viasat as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Illinois Municipal Retirement Fund grew its position in Viasat by 1.6% in the first quarter. Illinois Municipal Retirement Fund now owns 68,135 shares of the communications equipment provider’s stock worth $3,121,000 after acquiring an additional 1,079 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Viasat in the 1st quarter valued at $275,000. Principal Financial Group Inc. lifted its stake in shares of Viasat by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 659,634 shares of the communications equipment provider’s stock valued at $30,211,000 after purchasing an additional 15,464 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of Viasat during the 1st quarter worth $264,000. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in shares of Viasat by 2.7% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 33,654 shares of the communications equipment provider’s stock worth $1,541,000 after purchasing an additional 900 shares during the period. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Insider Buying and Selling at Viasat

In other news, Director Theresa Wise sold 2,500 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $69.00, for a total transaction of $172,500.00. Following the completion of the transaction, the director owned 11,000 shares of the company’s stock, valued at $759,000. This represents a 18.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard A. Baldridge sold 27,122 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total transaction of $1,945,732.28. Following the sale, the director directly owned 213,355 shares of the company’s stock, valued at $15,306,087.70. This represents a 11.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 438,803 shares of company stock valued at $28,655,600. 2.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. B. Riley Financial upped their target price on shares of Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Oppenheimer initiated coverage on shares of Viasat in a research note on Monday, June 29th. They issued an “outperform” rating and a $140.00 price target on the stock. Zacks Research lowered shares of Viasat from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $97.00 price objective on shares of Viasat in a research report on Monday, June 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $84.11.

Viasat Price Performance

Shares of NASDAQ VSAT opened at $71.70 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.19 and a debt-to-equity ratio of 1.35. The company’s 50-day moving average price is $72.04 and its 200 day moving average price is $58.12. Viasat Inc. has a 52 week low of $14.11 and a 52 week high of $93.03. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of -247.24 and a beta of 1.70.

Viasat (NASDAQ:VSAT) last announced its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.20 billion. Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.02) EPS. As a group, research analysts forecast that Viasat Inc. will post -0.39 earnings per share for the current fiscal year.

Viasat Company Profile

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.