VSAT VIASAT INC

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Executive Summary

An 8-trade insider cluster at Viasat, comprising 4 distinct insiders, shows a net sell direction totaling ~$3.64M, primarily driven by Director Richard Baldridge (27.1K shares, $1.95M) and SVP Benjamin Palmer (21.4K shares, $1.56M). This cluster follows Viasat's May 28 earnings release (Q4 FY2026 revenue up 2% YoY, GAAP EPS $0.41 vs. -$246M loss year-ago, but Communications segment revenue declined 2% and Adjusted EBITDA fell 1%), which provided a mixed fundamental backdrop. The total dollar value of open-market sales ($3.64M) represents ~0.04% of Viasat's $8.9B market cap—trivial in proportion—and the cluster is heavily weighted with derivative exercises, a tax surrender, and a gift ($0 cash value), making the clear sell signal less informative. Given the calibration feedback (score 6-9 have ~34-35% observed P at T+20 in this segment, negative net alpha), the historical underperformance of prior neutral calls on VSAT, and the trivial dollar value relative to market cap, this cluster is best read as routine insider post-earnings diversification rather than a bearish signal.

Key Financial Metrics

Actionable Insight

Key Facts

• Four Viasat insiders (Baldridge, Stenbit, Chase, Palmer) executed open-market sells totaling $3.64M in a 7-day window ending June 8, 2026.
• The largest trade was Director Richard Baldridge's sale of 27.1K shares for $1.95M on June 3, 2026.
• Total open-market sale proceeds ($3.64M) represent only ~0.04% of Viasat's $8.9B market cap.
• Multiple non-cash transactions (derivative exercises, a gift, tax withholding) were also reported, including $186K in derivative exercises by Director Theresa Wise.
• The cluster follows Viasat's Q4 FY2026 earnings (May 28): revenue $1.171B (+2% YoY), GAAP net income $59M vs. -$246M loss prior year, but Communications Services revenue fell 2% and Adj. EBITDA declined 1%.
• FY2027 guidance calls for mid-single-digit revenue growth and flat-to-slightly-up Adjusted EBITDA.
• Historical calibration shows ~34% T+20 win rates for scores 6-9 in this segment, with negative net alpha after costs—suggesting caution against over-scoring insider clusters at Viasat.

Financial Impact

Open-market insider sales of $3.64M, representing 0.04% of market cap; no material financial impact.

Risk Factors

• Continued insider selling by other C-suite executives could signal elevated bearish sentiment.
• Viasat's Communications Services segment revenue declined 2% YoY—a potential headwind to growth narrative.
• Historical calibration on VSAT reports shows poor average T+20 returns (-8%) for prior neutral calls; cluster signal may be negligible.

Market Snapshot

Documents Analyzed

This report is based on 1 SEC document filed with EDGAR.

US Market Status