VeriSign, Inc. (NASDAQ:VRSN – Get Free Report) CEO D James Bidzos sold 3,300 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $281.20, for a total transaction of $927,960.00. Following the transaction, the chief executive officer owned 412,939 shares in the company, valued at approximately $116,118,446.80. This trade represents a 0.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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, July 21st, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $270.44, for a total transaction of $892,452.00.
- On Tuesday, July 7th, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $266.09, for a total transaction of $878,097.00.
- On Tuesday, June 30th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $250.94, for a total transaction of $828,102.00.
- On Tuesday, June 23rd, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $248.53, for a total transaction of $820,149.00.
- On Tuesday, June 16th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $274.22, for a total transaction of $904,926.00.
- On Tuesday, June 9th, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were 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 value of $981,651.00.
VeriSign Stock Performance
Shares of VRSN traded up $9.77 during trading hours on Wednesday, hitting $290.92. 862,744 shares of the company were exchanged, compared to its average volume of 829,757. The company has a market cap of $26.27 billion, a PE ratio of 31.55 and a beta of 0.71. The firm’s 50 day moving average is $275.50 and its 200-day moving average is $259.86. VeriSign, Inc. has a 52 week low of $208.86 and a 52 week high of $312.48.
VeriSign Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, August 19th. VeriSign’s dividend payout ratio (DPR) is 35.14%.
Trending Headlines about VeriSign
Here are the key news stories impacting VeriSign this week:
- Positive Sentiment: Zacks upgraded VeriSign to a “Strong Buy”, or Zacks Rank #1, citing growing optimism about the company’s earnings prospects. The upgrade is the clearest near-term catalyst behind the stock’s strength. VeriSign Upgraded to Strong Buy
- Positive Sentiment: Analysts remain constructive: VeriSign has a consensus rating of “Moderate Buy” and an average price target of $328.75. Recent target increases from JPMorgan, Wedbush and other firms reinforce expectations for additional upside, although JPMorgan maintains a neutral rating. VeriSign analyst ratings
- Positive Sentiment: The company’s quarterly dividend of $0.81 per share, annualized to $3.24 and yielding about 1.2%, adds to shareholder returns and signals continued cash-generation capacity.
- Neutral Sentiment: VeriSign’s stock has outperformed many competitors recently despite a weaker session, remaining above both its 50-day and 200-day moving averages and near its 52-week high. This indicates strong momentum but also leaves the shares more exposed to profit-taking.
- Negative Sentiment: CEO D. James Bidzos sold 3,300 shares and EVP Thomas Indelicarto sold 500 shares. Both transactions were conducted under pre-arranged Rule 10b5-1 plans and represented small reductions in their holdings, limiting the negative signal, but the insider selling may temper enthusiasm.
Hedge Funds Weigh In On VeriSign
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Perpetual Ltd lifted 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 valued at $2,223,000 after buying an additional 5,626 shares during the period. KLP Kapitalforvaltning AS increased its stake in VeriSign by 17.7% during the fourth quarter. KLP Kapitalforvaltning AS now owns 146,100 shares of the information services provider’s stock valued at $35,495,000 after acquiring an additional 22,020 shares during the period. Danske Bank A S increased its stake in VeriSign by 23.5% during the fourth quarter. Danske Bank A S now owns 64,246 shares of the information services provider’s stock valued at $15,609,000 after acquiring an additional 12,220 shares during the period. Asset Management One Co. Ltd. raised its holdings in VeriSign by 29.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 49,688 shares of the information services provider’s stock valued at $12,179,000 after acquiring an additional 11,249 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in VeriSign by 2.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 174,140 shares of the information services provider’s stock valued at $41,886,000 after acquiring an additional 3,691 shares in the last quarter. Institutional investors own 92.90% of the company’s stock.
Wall Street Analyst Weigh In
VRSN has been the subject of several recent analyst reports. Robert W. Baird upped their price objective on shares of VeriSign from $305.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of VeriSign in a report on Wednesday, June 24th. Citigroup boosted their target price on shares of VeriSign from $295.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Zacks Research upgraded shares of VeriSign from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. raised their price target on VeriSign from $308.00 to $316.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $328.75.
Check Out Our Latest Report on VeriSign
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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