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Viasat Inc. (NASDAQ:VSAT) recently witnessed a significant stock sale by Triton LuxTopHolding SARL. On February 10, Triton LuxTopHolding sold 3.75 million shares of Viasat’s common stock at a price of $9.00 per share, totaling approximately $33.75 million. The sale comes amid a challenging period for the $1.16 billion market cap company, whose shares have declined nearly 60% over the past six months. According to InvestingPro analysis, Viasat trades at a notably low Price/Book ratio of 0.24, though it operates with a significant debt burden. Following this transaction, Triton LuxTopHolding retains ownership of 4,795,334 shares. The sale was disclosed in a recent SEC filing, highlighting the ongoing financial maneuvers of key stakeholders in the company. For deeper insights into insider trading patterns and 12+ additional exclusive ProTips, investors can access the comprehensive Viasat research report on InvestingPro.
In other recent news, major shareholders of ViaSat Inc. have filed Form 144s with the SEC, indicating plans to sell a significant number of shares. These shares were acquired through a merger with Inmarsat, hinting at a possible reshuffling of stakeholder positions. The company has yet to comment on these planned sales or the reasons behind them. On the financial front, ViaSat reported better-than-expected earnings for its third quarter, with an adjusted EPS of $0.11, significantly outperforming analyst projections of a $0.61 loss per share. Revenue was reported at $1.12 billion, slightly below the consensus estimate of $1.13 billion but consistent with the same quarter last year. In terms of future prospects, Cantor Fitzgerald analysts have maintained a Neutral rating on ViaSat, with a steady price target of $12.00. They highlighted potential capital expenditure savings of approximately $200 million and expressed interest in understanding how ViaSat’s free cash flow targets will align with its ongoing growth initiatives. These are among the recent developments for ViaSat.
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