VeriSign, Inc. (NASDAQ:VRSN – Get Free Report) CEO D James Bidzos sold 3,300 shares of VeriSign stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $274.22, for a total value of $904,926.00. Following the sale, the chief executive officer owned 432,739 shares of the company’s stock, valued at approximately $118,665,688.58. This trade represents a 0.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
D James Bidzos also recently made the following trade(s):
- On Tuesday, June 9th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $284.29, for a total value of $938,157.00.
- On Tuesday, June 2nd, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $297.47, for a total transaction of $981,651.00.
VeriSign Trading Down 0.1%
VRSN stock opened at $264.64 on Friday. The company’s 50 day moving average is $283.46 and its 200 day moving average is $256.16. The stock has a market cap of $24.08 billion, a price-to-earnings ratio of 29.24 and a beta of 0.69. VeriSign, Inc. has a 1-year low of $208.86 and a 1-year high of $312.48.
VeriSign Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Tuesday, May 19th were issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, May 19th. VeriSign’s payout ratio is currently 35.80%.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on VRSN shares. Robert W. Baird increased their target price on VeriSign from $305.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Weiss Ratings upgraded VeriSign from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 27th. Citigroup increased their price objective on VeriSign from $295.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, JPMorgan Chase & Co. raised their price objective on VeriSign from $285.00 to $308.00 and gave the company a “neutral” rating in a report on Thursday. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $327.67.
Check Out Our Latest Analysis on VeriSign
Hedge Funds Weigh In On VeriSign
Large investors have recently added to or reduced their stakes in the business. Perpetual Ltd increased its stake in shares of VeriSign by 159.6% in the fourth quarter. Perpetual Ltd now owns 9,150 shares of the information services provider’s stock worth $2,223,000 after buying an additional 5,626 shares during the period. CIBC Bancorp USA Inc. bought a new stake in VeriSign during the 3rd quarter valued at $26,647,000. Vestcor Inc boosted its position in VeriSign by 14.2% during the 3rd quarter. Vestcor Inc now owns 85,503 shares of the information services provider’s stock valued at $23,904,000 after buying an additional 10,637 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in VeriSign by 152.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 308,091 shares of the information services provider’s stock valued at $75,922,000 after buying an additional 186,029 shares during the period. Finally, Sienna Gestion bought a new stake in VeriSign in the 3rd quarter worth $5,139,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.
VeriSign Company Profile
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.
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