Cobblestone Capital Advisors LLC NY Reduces Position in Viasat, Inc. (NASDAQ:VSAT)

Cobblestone Capital Advisors LLC NY cut its stake in shares of Viasat, Inc. (NASDAQ:VSAT) by 16.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,537 shares of the communications equipment provider’s stock after selling 16,748 shares during the quarter. Cobblestone Capital Advisors LLC NY owned about 0.13% of Viasat worth $2,858,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in VSAT. FMR LLC grew its holdings in shares of Viasat by 88.0% during the first quarter. FMR LLC now owns 119,229 shares of the communications equipment provider’s stock valued at $9,240,000 after buying an additional 55,804 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Viasat in the first quarter valued at $318,000. Envestnet Asset Management Inc. boosted its holdings in Viasat by 16.8% in the third quarter. Envestnet Asset Management Inc. now owns 8,719 shares of the communications equipment provider’s stock valued at $300,000 after purchasing an additional 1,256 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in Viasat by 9.6% in the third quarter. Louisiana State Employees Retirement System now owns 16,000 shares of the communications equipment provider’s stock valued at $550,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in Viasat by 15.6% in the third quarter. Retirement Systems of Alabama now owns 203,720 shares of the communications equipment provider’s stock valued at $7,006,000 after purchasing an additional 27,492 shares during the last quarter. 80.06% of the stock is currently owned by hedge funds and other institutional investors.

Shares of VSAT traded down $2.18 during mid-day trading on Tuesday, hitting $52.84. 21,101 shares of the company were exchanged, compared to its average volume of 1,023,259. Viasat, Inc. has a 1-year low of $25.10 and a 1-year high of $61.35. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.08 and a current ratio of 1.63. The company has a 50 day moving average of $45.69 and a 200-day moving average of $38.18. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of -2,751.00 and a beta of 1.21.

Viasat (NASDAQ:VSAT) last released its quarterly earnings results on Thursday, February 4th. The communications equipment provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.37. Viasat had a negative net margin of 0.05% and a negative return on equity of 0.06%. The firm had revenue of $575.60 million during the quarter, compared to the consensus estimate of $592.56 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. Research analysts anticipate that Viasat, Inc. will post -0.15 earnings per share for the current fiscal year.

Several equities research analysts have commented on the stock. Raymond James upped their price target on shares of Viasat from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Monday, February 8th. William Blair raised shares of Viasat from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $110.00 to $90.00 in a report on Friday, February 5th. Zacks Investment Research lowered shares of Viasat from a “hold” rating to a “sell” rating and set a $42.00 target price on the stock. in a research note on Thursday, January 21st. Barclays increased their target price on shares of Viasat from $53.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Friday, February 12th. Finally, Needham & Company LLC increased their target price on shares of Viasat from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, February 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Viasat presently has an average rating of “Hold” and a consensus target price of $60.86.

Viasat Profile

Viasat, Inc provides broadband and communications products and services worldwide. It operates through three segments: Satellite Services, Commercial Networks, and Government Systems. 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; and mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts.

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Institutional Ownership by Quarter for Viasat (NASDAQ:VSAT)

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