Point72 Asset Management L.P. Purchases 250,389 Shares of Viasat, Inc. (NASDAQ:VSAT)

Point72 Asset Management L.P. boosted its stake in shares of Viasat, Inc. (NASDAQ:VSAT - Free Report) by 63.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 644,155 shares of the communications equipment provider's stock after buying an additional 250,389 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.51% of Viasat worth $8,181,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Treasurer of the State of North Carolina grew its position in Viasat by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 51,832 shares of the communications equipment provider's stock valued at $1,449,000 after buying an additional 500 shares during the period. Louisiana State Employees Retirement System grew its position in Viasat by 1.6% during the second quarter. Louisiana State Employees Retirement System now owns 37,800 shares of the communications equipment provider's stock valued at $480,000 after buying an additional 600 shares during the period. Daiwa Securities Group Inc. grew its position in Viasat by 4.2% during the second quarter. Daiwa Securities Group Inc. now owns 16,455 shares of the communications equipment provider's stock valued at $209,000 after buying an additional 667 shares during the period. Entropy Technologies LP grew its position in Viasat by 5.7% during the first quarter. Entropy Technologies LP now owns 13,137 shares of the communications equipment provider's stock valued at $238,000 after buying an additional 707 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Viasat by 8.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,044 shares of the communications equipment provider's stock valued at $166,000 after buying an additional 997 shares during the period. Institutional investors own 86.05% of the company's stock.

Insider Activity at Viasat

In related news, insider Cpp Investment Board Private H sold 2,811,442 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $19.90, for a total value of $55,947,695.80. Following the sale, the insider now directly owns 8,545,334 shares of the company's stock, valued at $170,052,146.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is currently owned by insiders.

Viasat Price Performance

Shares of Viasat stock traded down $0.15 on Wednesday, reaching $11.40. The stock had a trading volume of 1,210,265 shares, compared to its average volume of 1,718,305. Viasat, Inc. has a 1 year low of $11.28 and a 1 year high of $29.11. The company has a market cap of $1.43 billion, a P/E ratio of -1.30 and a beta of 1.34. The company has a current ratio of 3.08, a quick ratio of 2.78 and a debt-to-equity ratio of 1.40. The business's 50 day moving average is $16.20 and its two-hundred day moving average is $16.04.

Viasat (NASDAQ:VSAT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.26) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.42) by $0.16. Viasat had a negative net margin of 22.13% and a negative return on equity of 19.76%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm posted ($0.83) earnings per share. The company's revenue for the quarter was up 41.1% on a year-over-year basis. As a group, research analysts anticipate that Viasat, Inc. will post -1.34 EPS for the current year.

Wall Street Analysts Forecast Growth

VSAT has been the topic of several recent research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 price objective on shares of Viasat in a report on Monday, June 17th. StockNews.com downgraded shares of Viasat from a "hold" rating to a "sell" rating in a report on Saturday, August 31st. Bank of America dropped their price objective 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. Morgan Stanley dropped their price objective on shares of Viasat from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 18th. Finally, Barclays dropped their price objective on shares of Viasat from $28.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Viasat currently has a consensus rating of "Hold" and a consensus target price of $22.33.

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.