VeriSign, Inc. (NASDAQ:VRSN – Get Free Report) EVP John Calys sold 500 shares of VeriSign stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $281.56, for a total transaction of $140,780.00. Following the transaction, the executive vice president directly owned 31,087 shares of the company’s stock, valued at approximately $8,752,855.72. This trade represents a 1.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
VeriSign Price Performance
NASDAQ:VRSN opened at $290.92 on Thursday. The firm has a market capitalization of $26.27 billion, a P/E ratio of 31.55 and a beta of 0.71. VeriSign, Inc. has a one year low of $208.86 and a one year high of $312.48. The company’s 50-day simple moving average is $275.26 and its 200 day simple moving average is $260.17.
VeriSign (NASDAQ:VRSN – Get Free Report) last announced its earnings results on Thursday, July 23rd. The information services provider reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.02. VeriSign had a net margin of 49.76% and a negative return on equity of 39.20%. The business had revenue of $434.60 million during the quarter, compared to the consensus estimate of $433.19 million. During the same quarter last year, the firm earned $2.21 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts expect that VeriSign, Inc. will post 9.56 earnings per share for the current fiscal year.
VeriSign Dividend Announcement
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on VRSN shares. JPMorgan Chase & Co. lifted their price objective on VeriSign from $308.00 to $316.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of VeriSign in a research note on Wednesday, June 24th. Wedbush raised their price target on VeriSign from $318.00 to $324.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Citigroup lifted their price target on VeriSign from $295.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Finally, Zacks Research upgraded shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $328.75.
View Our Latest Report on VRSN
Key Headlines Impacting VeriSign
Here are the key news stories impacting VeriSign this week:
- Positive Sentiment: Zacks upgraded VeriSign to “Strong Buy” from “Hold,” citing growing optimism about the company’s earnings prospects. The upgrade gives investors a fresh bullish signal and may be the main catalyst supporting the stock. VeriSign Upgraded to Strong Buy
- Positive Sentiment: A Seeking Alpha analysis upgraded the stock, arguing that the market may be overlooking aspects of VeriSign’s business and post-earnings outlook. The company’s recurring domain-registry revenue, strong margins and earnings beat provide support for the bullish view. VeriSign Analysis and Upgrade
- Positive Sentiment: Recent analyst targets remain above the trading range, with a reported consensus target of $328.75 and several firms maintaining Buy or Outperform ratings. This suggests potential upside, although the stock is already near its 52-week high.
- Neutral Sentiment: VeriSign outperformed several competitors during a broadly weaker session, indicating relative investor resilience, though the report did not identify a new fundamental catalyst. VeriSign Outperforms Competitors
- Negative Sentiment: CEO D. James Bidzos sold 3,300 shares, while EVPs John Calys and Thomas Indelicarto each sold 500 shares. The transactions reduced their individual holdings modestly, but the CEO and EVP sales were conducted under pre-arranged Rule 10b5-1 plans, reducing their significance as a bearish signal. VeriSign SEC Insider Sale Filing
Hedge Funds Weigh In On VeriSign
Hedge funds have recently added to or reduced their stakes in the company. DV Equities LLC purchased a new stake in VeriSign during the 4th quarter valued at $28,000. Sunbelt Securities Inc. increased its holdings in shares of VeriSign by 429.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 127 shares of the information services provider’s stock worth $36,000 after purchasing an additional 103 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of VeriSign by 25.3% in the 1st quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock worth $50,000 after purchasing an additional 40 shares in the last quarter. Activest Wealth Management raised its stake in shares of VeriSign by 788.0% in the fourth quarter. Activest Wealth Management now owns 222 shares of the information services provider’s stock worth $54,000 after purchasing an additional 197 shares during the last quarter. Finally, Fideuram Asset Management Ireland dac purchased a new position in shares of VeriSign in the fourth quarter worth $58,000. 92.90% of the stock is currently 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.
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