Northwestern Mutual Investment Management Company LLC cut its holdings in shares of ViaSat, Inc. (NASDAQ:VSAT) by 14.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,774 shares of the communications equipment provider’s stock after selling 1,357 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in ViaSat were worth $555,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in ViaSat by 1,936.1% during the second quarter. JPMorgan Chase & Co. now owns 12,135 shares of the communications equipment provider’s stock worth $803,000 after purchasing an additional 11,539 shares during the period. Benchmark Capital Advisors raised its stake in shares of ViaSat by 1.2% in the 2nd quarter. Benchmark Capital Advisors now owns 20,850 shares of the communications equipment provider’s stock valued at $1,380,000 after acquiring an additional 250 shares during the period. Swiss National Bank raised its stake in shares of ViaSat by 3.5% in the 2nd quarter. Swiss National Bank now owns 91,124 shares of the communications equipment provider’s stock valued at $6,032,000 after acquiring an additional 3,100 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in shares of ViaSat by 5.7% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,495 shares of the communications equipment provider’s stock valued at $231,000 after acquiring an additional 190 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of ViaSat by 3.9% in the 2nd quarter. Principal Financial Group Inc. now owns 223,222 shares of the communications equipment provider’s stock valued at $14,777,000 after acquiring an additional 8,430 shares during the period. Hedge funds and other institutional investors own 99.42% of the company’s stock.
In other ViaSat news, CEO Mark D. Dankberg sold 28,500 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $60.12, for a total transaction of $1,713,420.00. Following the completion of the sale, the chief executive officer now owns 28,500 shares of the company’s stock, valued at $1,713,420. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John P. Stenbit sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $64.78, for a total value of $45,346.00. Following the sale, the director now directly owns 8,700 shares of the company’s stock, valued at approximately $563,586. The disclosure for this sale can be found here. Insiders have sold 89,850 shares of company stock valued at $5,532,689 in the last ninety days. Company insiders own 7.70% of the company’s stock.
Shares of ViaSat, Inc. (NASDAQ:VSAT) opened at 60.32 on Wednesday. ViaSat, Inc. has a 1-year low of $57.75 and a 1-year high of $82.19. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 261.13 and a beta of 0.69. The stock’s 50 day moving average is $62.91 and its 200-day moving average is $64.90.
ViaSat (NASDAQ:VSAT) last announced its earnings results on Tuesday, August 8th. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The company had revenue of $380.00 million for the quarter, compared to the consensus estimate of $384.29 million. ViaSat had a return on equity of 1.21% and a net margin of 0.82%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 EPS. On average, analysts anticipate that ViaSat, Inc. will post $0.05 EPS for the current year.
Several equities research analysts recently weighed in on VSAT shares. B. Riley reaffirmed a “buy” rating and set a $89.00 target price on shares of ViaSat in a research note on Friday, May 19th. Wells Fargo & Company set a $96.00 price target on shares of ViaSat and gave the stock a “buy” rating in a report on Wednesday, May 24th. TheStreet upgraded shares of ViaSat from a “c” rating to a “b-” rating in a report on Tuesday, May 23rd. Zacks Investment Research cut shares of ViaSat from a “hold” rating to a “sell” rating in a report on Friday, May 26th. Finally, Royal Bank Of Canada set a $50.00 target price on shares of ViaSat and gave the company a “sell” rating in a report on Saturday, May 27th. Four analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. ViaSat has a consensus rating of “Hold” and a consensus price target of $74.82.
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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