Belpointe Asset Management LLC Buys 112 Shares of VeriSign, Inc. $VRSN

Belpointe Asset Management LLC raised its stake in VeriSign, Inc. (NASDAQ:VRSN) by 8.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,471 shares of the information services provider’s stock after purchasing an additional 112 shares during the quarter. Belpointe Asset Management LLC’s holdings in VeriSign were worth $425,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VRSN. Livelsberger Financial Advisory bought a new position in shares of VeriSign during the second quarter valued at approximately $27,000. Bruce G. Allen Investments LLC raised its holdings in shares of VeriSign by 56.5% during the second quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 35 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of VeriSign during the second quarter valued at approximately $34,000. Rakuten Securities Inc. raised its holdings in shares of VeriSign by 13,000.0% during the first quarter. Rakuten Securities Inc. now owns 131 shares of the information services provider’s stock valued at $33,000 after acquiring an additional 130 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of VeriSign during the first quarter valued at approximately $34,000. Institutional investors own 92.90% of the company’s stock.

VeriSign Trading Down 0.4%

VRSN opened at $260.82 on Friday. The stock has a fifty day simple moving average of $275.45 and a two-hundred day simple moving average of $273.65. The company has a market cap of $24.36 billion, a price-to-earnings ratio of 31.12 and a beta of 0.79. VeriSign, Inc. has a 12-month low of $175.62 and a 12-month high of $310.60.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, July 24th. The information services provider reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.01. The business had revenue of $409.90 million during the quarter, compared to the consensus estimate of $410.35 million. VeriSign had a negative return on equity of 40.87% and a net margin of 50.05%.The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.01 earnings per share. VeriSign has set its FY 2025 guidance at EPS.

VeriSign announced that its board has approved a share repurchase program on Thursday, July 24th that authorizes the company to repurchase $1.11 billion in outstanding shares. This repurchase authorization authorizes the information services provider to repurchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

VeriSign Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Tuesday, August 19th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, August 19th. VeriSign’s dividend payout ratio is currently 36.75%.

Insider Transactions at VeriSign

In other news, EVP Thomas C. Indelicarto sold 501 shares of the stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $270.87, for a total value of $135,705.87. Following the sale, the executive vice president directly owned 34,690 shares of the company’s stock, valued at approximately $9,396,480.30. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy Tomlinson sold 700 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $270.00, for a total value of $189,000.00. Following the completion of the sale, the director directly owned 15,284 shares in the company, valued at approximately $4,126,680. This represents a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,205 shares of company stock valued at $10,577,083. Insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

VRSN has been the subject of a number of recent analyst reports. Robert W. Baird upped their target price on VeriSign from $285.00 to $305.00 and gave the company an “outperform” rating in a report on Tuesday, July 1st. Citigroup restated a “buy” rating on shares of VeriSign in a report on Tuesday, July 8th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of VeriSign in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat, VeriSign has a consensus rating of “Buy” and an average price target of $277.50.

VeriSign Company Profile

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.