JPMorgan Chase & Co. Purchases 151,590 Shares of Viasat, Inc. (NASDAQ:VSAT)

JPMorgan Chase & Co. raised its holdings in shares of Viasat, Inc. (NASDAQ:VSAT - Free Report) by 115.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 282,475 shares of the communications equipment provider's stock after purchasing an additional 151,590 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.22% of Viasat worth $3,373,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VSAT. State Street Corp boosted its stake in Viasat by 6.6% in the 3rd quarter. State Street Corp now owns 4,445,811 shares of the communications equipment provider's stock worth $53,083,000 after purchasing an additional 276,376 shares during the period. Disciplined Growth Investors Inc. MN increased its holdings in Viasat by 28.1% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 4,419,223 shares of the communications equipment provider's stock worth $52,766,000 after acquiring an additional 969,942 shares during the period. Geode Capital Management LLC boosted its holdings in Viasat by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,508,056 shares of the communications equipment provider's stock valued at $29,950,000 after purchasing an additional 122,472 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Viasat by 8.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,523,465 shares of the communications equipment provider's stock valued at $18,190,000 after purchasing an additional 115,909 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Viasat by 1,145.1% in the second quarter. Millennium Management LLC now owns 816,478 shares of the communications equipment provider's stock worth $10,369,000 after purchasing an additional 750,904 shares during the period. Institutional investors own 86.05% of the company's stock.

Insider Activity

In other Viasat news, EVP Mark J. Miller sold 3,564 shares of the business's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $9.21, for a total value of $32,824.44. Following the completion of the sale, the executive vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.20% of the stock is owned by corporate insiders.

Viasat Price Performance

VSAT stock traded up $0.42 during mid-day trading on Monday, hitting $8.89. 2,768,397 shares of the stock were exchanged, compared to its average volume of 2,494,715. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.44 and a quick ratio of 1.34. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -2.85 and a beta of 1.34. The business has a fifty day moving average price of $8.82 and a 200 day moving average price of $12.46. Viasat, Inc. has a 12 month low of $6.69 and a 12 month high of $26.70.

Viasat (NASDAQ:VSAT - Get Free Report) last released its earnings results on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.54) by ($0.53). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($6.16) EPS. On average, sell-side analysts anticipate that Viasat, Inc. will post -2.64 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Needham & Company LLC dropped their price objective on Viasat from $28.00 to $19.00 and set a "buy" rating for the company in a research note on Tuesday, October 15th. Barclays dropped their price target on Viasat from $24.00 to $9.00 and set an "equal weight" rating for the company in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Viasat has an average rating of "Hold" and a consensus target price of $18.33.

About Viasat

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.