D James Bidzos Sells 2,000 Shares of VeriSign (NASDAQ:VRSN) Stock

VeriSign, Inc. (NASDAQ:VRSN) CEO D James Bidzos sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $248.28, for a total value of $496,560.00. Following the transaction, the chief executive officer owned 414,099 shares in the company, valued at approximately $102,812,499.72. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

D James Bidzos also recently made the following trade(s):

• On Tuesday, January 13th, D James Bidzos sold 5,000 shares of VeriSign stock. The stock was sold at an average price of $248.20, for a total transaction of $1,241,000.00.
• On Wednesday, December 17th, D James Bidzos sold 2,000 shares of VeriSign stock. The stock was sold at an average price of $244.25, for a total transaction of $488,500.00.
• On Tuesday, December 16th, D James Bidzos sold 5,000 shares of VeriSign stock. The shares were sold at an average price of $241.79, for a total transaction of $1,208,950.00.
• On Wednesday, December 10th, D James Bidzos sold 2,000 shares of VeriSign stock. The shares were sold at an average price of $242.07, for a total value of $484,140.00.
• On Tuesday, December 9th, D James Bidzos sold 5,000 shares of VeriSign stock. The stock was sold at an average price of $244.59, for a total value of $1,222,950.00.
• On Wednesday, November 19th, D James Bidzos sold 2,000 shares of VeriSign stock. The shares were sold at an average price of $246.05, for a total value of $492,100.00.
• On Tuesday, November 18th, D James Bidzos sold 5,000 shares of VeriSign stock. The shares were sold at an average price of $250.05, for a total value of $1,250,250.00.
• On Wednesday, November 12th, D James Bidzos sold 2,000 shares of VeriSign stock. The stock was sold at an average price of $251.27, for a total value of $502,540.00.
• On Tuesday, November 11th, D James Bidzos sold 5,000 shares of VeriSign stock. The shares were sold at an average price of $248.14, for a total value of $1,240,700.00.
• On Wednesday, October 22nd, D James Bidzos sold 2,000 shares of VeriSign stock. The stock was sold at an average price of $261.54, for a total transaction of $523,080.00.

VeriSign Price Performance

VRSN stock opened at $249.47 on Friday. The company has a market capitalization of $23.13 billion, a P/E ratio of 29.08 and a beta of 0.77. VeriSign, Inc. has a 12 month low of $205.37 and a 12 month high of $310.60. The firm’s fifty day simple moving average is $247.28 and its 200-day simple moving average is $263.62.

VeriSign (NASDAQ:VRSN) last posted its earnings results on Thursday, October 23rd. The information services provider reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.02. The company had revenue of $419.10 million during the quarter, compared to the consensus estimate of $416.71 million. VeriSign had a net margin of 49.86% and a negative return on equity of 40.66%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.07 earnings per share.

VeriSign Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 18th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 1.2%. The ex-dividend date was Tuesday, November 18th. VeriSign’s dividend payout ratio (DPR) is currently 35.90%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on VRSN shares. JPMorgan Chase & Co. lifted their target price on shares of VeriSign from $270.00 to $271.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of VeriSign in a report on Monday, December 29th. Citigroup reissued a “buy” rating on shares of VeriSign in a research note on Friday, October 24th. Robert W. Baird set a $325.00 price target on VeriSign in a research note on Friday, October 24th. Finally, Zacks Research cut VeriSign from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 30th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $282.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. raised its stake in VeriSign by 25.3% in the 1st quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock valued at $50,000 after purchasing an additional 40 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of VeriSign by 12.3% in the first quarter. Integrated Wealth Concepts LLC now owns 1,232 shares of the information services provider’s stock worth $313,000 after buying an additional 135 shares in the last quarter. NewEdge Advisors LLC boosted its position in VeriSign by 104.5% during the first quarter. NewEdge Advisors LLC now owns 4,125 shares of the information services provider’s stock worth $1,047,000 after acquiring an additional 2,108 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in VeriSign by 122.1% in the 1st quarter. Jones Financial Companies Lllp now owns 3,358 shares of the information services provider’s stock valued at $852,000 after acquiring an additional 1,846 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in VeriSign by 2.0% in the 1st quarter. Empowered Funds LLC now owns 9,346 shares of the information services provider’s stock worth $2,373,000 after purchasing an additional 186 shares in the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

About VeriSign

VeriSign, Inc (NASDAQ: VRSN) is an internet infrastructure company that operates critical components of the global Domain Name System (DNS) and provides cybersecurity-related services. The company is best known as the authoritative registry operator for the .com and .net top-level domains, maintaining the central databases and zone files that enable domain name resolution for millions of websites. VeriSign’s registry role is performed under contractual agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and involves high-availability, highly secure operations to support continuous internet connectivity.

In addition to its registry business, VeriSign offers a suite of services designed to protect and accelerate DNS and internet traffic for enterprises and service providers.