California Public Employees Retirement System Cuts Holdings in ViaSat, Inc. (VSAT)

California Public Employees Retirement System cut its holdings in shares of ViaSat, Inc. (NASDAQ:VSAT) by 30.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,593 shares of the communications equipment provider’s stock after selling 34,262 shares during the period. California Public Employees Retirement System owned 0.13% of ViaSat worth $4,515,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in ViaSat by 0.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 612,117 shares of the communications equipment provider’s stock valued at $39,146,000 after purchasing an additional 4,354 shares during the period. Retirement Systems of Alabama lifted its position in ViaSat by 0.5% during the 4th quarter. Retirement Systems of Alabama now owns 72,697 shares of the communications equipment provider’s stock valued at $4,285,000 after purchasing an additional 360 shares during the period. Vanguard Group Inc lifted its position in ViaSat by 3.1% during the 3rd quarter. Vanguard Group Inc now owns 5,124,401 shares of the communications equipment provider’s stock valued at $327,706,000 after purchasing an additional 153,301 shares during the period. Teachers Advisors LLC lifted its position in ViaSat by 2.1% during the 3rd quarter. Teachers Advisors LLC now owns 104,444 shares of the communications equipment provider’s stock valued at $6,679,000 after purchasing an additional 2,164 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in ViaSat by 26.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,679 shares of the communications equipment provider’s stock valued at $2,793,000 after purchasing an additional 9,018 shares during the period.

In related news, Director B Allen Lay sold 2,000 shares of the stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $71.50, for a total transaction of $143,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Richard A. Baldridge sold 84,401 shares of the stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $72.74, for a total value of $6,139,328.74. The disclosure for this sale can be found here. Insiders sold a total of 140,401 shares of company stock worth $10,278,629 over the last quarter. 8.10% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:VSAT opened at $77.29 on Friday. The company has a market capitalization of $4.67 billion, a P/E ratio of -89.87 and a beta of 0.90. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.96 and a current ratio of 1.44. ViaSat, Inc. has a fifty-two week low of $55.93 and a fifty-two week high of $77.67.

ViaSat (NASDAQ:VSAT) last announced its quarterly earnings results on Thursday, February 7th. The communications equipment provider reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.24. The business had revenue of $554.69 million for the quarter, compared to the consensus estimate of $487.99 million. ViaSat had a negative net margin of 4.62% and a negative return on equity of 4.60%. ViaSat’s revenue for the quarter was up 45.3% on a year-over-year basis. During the same period last year, the company posted ($0.04) EPS. On average, analysts forecast that ViaSat, Inc. will post -1.43 EPS for the current fiscal year.

A number of brokerages recently weighed in on VSAT. BidaskClub upgraded shares of ViaSat from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. Zacks Investment Research upgraded shares of ViaSat from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Monday, February 4th. ValuEngine downgraded shares of ViaSat from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 2nd. Morgan Stanley increased their price target on shares of ViaSat from $67.00 to $71.00 and gave the company an “equal weight” rating in a research report on Friday, November 30th. Finally, Raymond James increased their price target on shares of ViaSat from $73.00 to $81.00 and gave the company a “positive” rating in a research report on Friday, February 15th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $69.71.

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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 Internet and aviation software services to commercial airlines; and mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems.

Read More: Return on Equity (ROE)

Institutional Ownership by Quarter for ViaSat (NASDAQ:VSAT)

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