Viasat, Inc. (NASDAQ:VSAT) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in shares of Viasat, Inc. (NASDAQ:VSAT - Free Report) by 5.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,508,056 shares of the communications equipment provider's stock after acquiring an additional 122,472 shares during the period. Geode Capital Management LLC owned about 1.95% of Viasat worth $29,950,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Louisiana State Employees Retirement System raised its position in shares of Viasat by 1.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 37,800 shares of the communications equipment provider's stock valued at $480,000 after purchasing an additional 600 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Viasat by 25.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 796,368 shares of the communications equipment provider's stock valued at $10,114,000 after acquiring an additional 162,804 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Viasat by 8.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,044 shares of the communications equipment provider's stock worth $166,000 after acquiring an additional 997 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Viasat by 26.1% in the 2nd quarter. Van ECK Associates Corp now owns 21,234 shares of the communications equipment provider's stock worth $270,000 after purchasing an additional 4,389 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Viasat in the 2nd quarter valued at about $81,000. 86.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Mark J. Miller sold 3,564 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $9.21, for a total transaction of $32,824.44. Following the sale, the executive vice president now owns 350,351 shares of the company's stock, valued at $3,226,732.71. The trade was a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.20% of the company's stock.

Viasat Stock Performance

NASDAQ:VSAT traded down $0.43 during mid-day trading on Friday, hitting $8.94. The stock had a trading volume of 2,362,482 shares, compared to its average volume of 1,970,801. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 1.28. The company has a 50 day simple moving average of $9.23 and a 200-day simple moving average of $12.96. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -2.87 and a beta of 1.34. Viasat, Inc. has a 52 week low of $6.69 and a 52 week high of $29.11.

Viasat (NASDAQ:VSAT - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.53). The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Viasat had a negative return on equity of 7.58% and a negative net margin of 8.73%. The business's quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($6.16) earnings per share. On average, research analysts expect that Viasat, Inc. will post -2.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on VSAT. Barclays lowered their price objective on Viasat from $24.00 to $9.00 and set an "equal weight" rating for the company in a report on Wednesday, November 20th. Needham & Company LLC dropped their price target on Viasat from $28.00 to $19.00 and set a "buy" rating on the stock in a research report on Tuesday, October 15th. JPMorgan Chase & Co. downgraded shares of Viasat from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $29.00 to $15.00 in a report on Tuesday, September 17th. Bank of America dropped their target price on shares of Viasat from $31.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, September 20th. Finally, StockNews.com downgraded shares of Viasat from a "hold" rating to a "sell" rating in a research report on Saturday, August 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $18.33.

Viasat 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.