Credit Suisse AG reduced its stake in shares of ViaSat, Inc. (NASDAQ:VSAT) by 29.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,788 shares of the communications equipment provider’s stock after selling 21,046 shares during the period. Credit Suisse AG owned 0.09% of ViaSat worth $3,178,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of VSAT. Quantitative Systematic Strategies LLC acquired a new position in shares of ViaSat during the first quarter valued at approximately $290,000. Capital Impact Advisors LLC purchased a new stake in shares of ViaSat during the first quarter worth $1,998,000. Louisiana State Employees Retirement System raised its stake in shares of ViaSat by 5.5% in the first quarter. Louisiana State Employees Retirement System now owns 13,400 shares of the communications equipment provider’s stock worth $855,000 after buying an additional 700 shares during the last quarter. Capstone Asset Management Co. raised its stake in shares of ViaSat by 16.4% in the first quarter. Capstone Asset Management Co. now owns 3,766 shares of the communications equipment provider’s stock worth $240,000 after buying an additional 530 shares during the last quarter. Finally, CrestPoint Capital Management LLC purchased a new stake in shares of ViaSat during the first quarter worth $791,000. 94.82% of the stock is owned by institutional investors.
ViaSat, Inc. (NASDAQ VSAT) opened at 59.30 on Friday. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 256.71 and a beta of 0.68. The stock has a 50 day moving average of $64.42 and a 200-day moving average of $65.45. ViaSat, Inc. has a 52-week low of $57.75 and a 52-week high of $82.19.
ViaSat (NASDAQ:VSAT) last posted its quarterly earnings results on Tuesday, August 8th. The communications equipment provider reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by $0.03. ViaSat had a net margin of 0.82% and a return on equity of 1.21%. The business had revenue of $380 million during the quarter, compared to the consensus estimate of $384.29 million. During the same quarter last year, the company posted $0.23 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. On average, analysts expect that ViaSat, Inc. will post $0.05 EPS for the current year.
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Several brokerages recently commented on VSAT. BidaskClub lowered shares of ViaSat from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 21st. Wunderlich raised shares of ViaSat from a “sell” rating to a “hold” rating and set a $58.00 price objective on the stock in a research report on Friday, June 2nd. Barclays PLC reissued an “equal weight” rating and set a $80.00 price objective (down from $82.00) on shares of ViaSat in a research report on Monday, July 10th. Zacks Investment Research downgraded shares of ViaSat from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, Wells Fargo & Company set a $96.00 target price on shares of ViaSat and gave the company a “buy” rating in a report on Wednesday, May 24th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $76.45.
In other ViaSat news, insider Kevin J. Harkenrider sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $66.07, for a total value of $1,321,400.00. Following the transaction, the insider now directly owns 24,004 shares of the company’s stock, valued at approximately $1,585,944.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Richard A. Baldridge sold 35,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $59.92, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 65,650 shares of company stock worth $4,133,479. 7.70% of the stock is owned by company insiders.
ViaSat Company Profile
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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