The COO of ViaSat (VSAT) is Buying Shares

Today, the COO of ViaSat (NASDAQ: VSAT), Richard Baldridge, bought shares of VSAT for $2.24M.

Following this transaction Richard Baldridge’s holding in the company was increased by 2516.31% to a total of $14.9 million. Following Richard Baldridge’s last VSAT Buy transaction on August 11, 2017, the stock climbed by 2.8%.

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Based on ViaSat’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $439 million and GAAP net loss of $34.01 million. In comparison, last year the company earned revenue of $380 million and had a GAAP net loss of $9.04 million. Currently, ViaSat has an average volume of 161.9K.

Based on 5 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $69.80, reflecting a 9.8% upside. Three different firms, including Raymond James and Needham, currently also have a Buy rating on the stock.

In the last 30 days, insiders have sold $2.11M worth of VSAT shares and purchased $2.46M worth of VSAT shares. The insider sentiment on ViaSat has been positive according to 141 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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Viasat is a global communications company that believes everyone and everything in the world can be connected. For more than 30 years, Viasat has helped shape how consumers, businesses, governments and militaries around the world communicate.