Viasat, Inc. (NASDAQ:VSAT) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of Viasat, Inc. (NASDAQ:VSAT) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 649,949 shares of the communications equipment provider’s stock after selling 19,505 shares during the period. Bank of New York Mellon Corp’s holdings in Viasat were worth $5,531,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Algert Global LLC grew its holdings in Viasat by 361.3% during the 3rd quarter. Algert Global LLC now owns 77,880 shares of the communications equipment provider’s stock valued at $930,000 after purchasing an additional 60,998 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in Viasat during the 3rd quarter valued at $710,000. Everett Harris & Co. CA acquired a new stake in Viasat during the 4th quarter valued at $1,111,000. Principal Financial Group Inc. grew its holdings in Viasat by 3.2% during the 4th quarter. Principal Financial Group Inc. now owns 413,122 shares of the communications equipment provider’s stock valued at $3,516,000 after purchasing an additional 12,802 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Viasat by 115.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 282,475 shares of the communications equipment provider’s stock valued at $3,373,000 after purchasing an additional 151,590 shares in the last quarter. 86.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on VSAT shares. Needham & Company LLC reissued a “buy” rating and set a $19.00 price objective on shares of Viasat in a report on Monday, February 10th. Cantor Fitzgerald started coverage on shares of Viasat in a report on Friday, January 24th. They set a “neutral” rating and a $12.00 price objective for the company. Barclays raised their price objective on shares of Viasat from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. William Blair reissued a “market perform” rating on shares of Viasat in a report on Friday, February 7th. Finally, StockNews.com raised shares of Viasat from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Viasat has an average rating of “Hold” and an average price target of $15.57.

Insider Activity at Viasat

In related news, insider Cpp Investment Board Private H sold 3,750,000 shares of Viasat stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $9.00, for a total value of $33,750,000.00. Following the sale, the insider now directly owns 4,795,334 shares in the company, valued at $43,158,006. This trade represents a 43.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.20% of the stock is currently owned by insiders.

Viasat Trading Up 5.0 %

Viasat stock opened at $9.85 on Monday. The firm’s 50-day moving average is $9.40 and its 200-day moving average is $10.25. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.60 and a current ratio of 1.80. Viasat, Inc. has a 1 year low of $6.69 and a 1 year high of $26.70. The company has a market cap of $1.27 billion, a P/E ratio of -2.93 and a beta of 1.38.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings results on Thursday, February 6th. The communications equipment provider reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.70). Viasat had a negative return on equity of 8.37% and a negative net margin of 9.49%. On average, equities analysts expect that Viasat, Inc. will post -0.54 earnings per share for the current year.

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.