Principal Financial Group Inc. lifted its stake in shares of Viasat, Inc. (NASDAQ:VSAT) by 16.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 297,072 shares of the communications equipment provider’s stock after acquiring an additional 40,947 shares during the quarter. Principal Financial Group Inc.’s holdings in Viasat were worth $14,280,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Viasat by 88.0% in the 1st quarter. FMR LLC now owns 119,229 shares of the communications equipment provider’s stock worth $9,240,000 after acquiring an additional 55,804 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Viasat during the first quarter valued at $318,000. Arizona State Retirement System lifted its holdings in shares of Viasat by 4.4% during the fourth quarter. Arizona State Retirement System now owns 14,682 shares of the communications equipment provider’s stock valued at $479,000 after purchasing an additional 619 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Viasat by 15.7% during the fourth quarter. Victory Capital Management Inc. now owns 10,428 shares of the communications equipment provider’s stock valued at $340,000 after purchasing an additional 1,413 shares during the last quarter. Finally, First Trust Advisors LP purchased a new stake in shares of Viasat during the fourth quarter valued at $1,099,000. Institutional investors and hedge funds own 84.45% of the company’s stock.
Shares of Viasat stock opened at $51.09 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.99 and a current ratio of 1.51. Viasat, Inc. has a 1 year low of $29.82 and a 1 year high of $61.35. The business has a 50-day simple moving average of $49.75. The stock has a market cap of $3.71 billion, a P/E ratio of -1,276.93, a P/E/G ratio of 12.51 and a beta of 1.17.
VSAT has been the subject of several analyst reports. TheStreet raised Viasat from a “d+” rating to a “c” rating in a report on Tuesday, May 25th. Barclays upped their target price on Viasat from $53.00 to $65.00 and gave the company an “equal weight” rating in a report on Friday, February 12th. Morgan Stanley increased their price objective on Viasat from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday. Zacks Investment Research downgraded Viasat from a “hold” rating to a “sell” rating and set a $51.00 price objective for the company. in a research note on Monday, April 12th. Finally, Raymond James raised Viasat from an “outperform” rating to a “strong-buy” rating and set a $67.00 price objective for the company in a research note on Thursday, April 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $63.00.
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, internet, and aviation software services to commercial airlines; community internet services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and advanced software and communication infrastructure 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.
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