VeriSign, Inc. (NASDAQ:VRSN – Get Free Report) EVP Thomas Indelicarto sold 500 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $292.35, for a total value of $146,175.00. Following the completion of the transaction, the executive vice president owned 34,551 shares of the company’s stock, valued at $10,100,984.85. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
VeriSign Stock Down 1.9%
VeriSign stock traded down $5.71 on Tuesday, hitting $287.63. The company’s stock had a trading volume of 738,360 shares, compared to its average volume of 831,776. VeriSign, Inc. has a one year low of $208.86 and a one year high of $312.48. The firm has a market cap of $25.97 billion, a P/E ratio of 31.20 and a beta of 0.70. The company has a fifty day moving average price of $274.10 and a 200-day moving average price of $262.70.
VeriSign (NASDAQ:VRSN – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The information services provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.02. The company had revenue of $434.60 million during the quarter, compared to the consensus estimate of $433.19 million. VeriSign had a net margin of 49.76% and a negative return on equity of 39.20%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $2.21 EPS. Analysts anticipate that VeriSign, Inc. will post 9.56 EPS for the current year.
VeriSign Announces Dividend
Analysts Set New Price Targets
VRSN has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of VeriSign from $308.00 to $316.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Citigroup boosted their target price on VeriSign from $295.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Robert W. Baird lifted their price objective on VeriSign from $305.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Zacks Research raised VeriSign from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Finally, Wedbush raised their target price on VeriSign from $318.00 to $324.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $328.75.
Get Our Latest Analysis on VeriSign
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. DV Equities LLC acquired a new stake in shares of VeriSign in the 4th quarter valued at $28,000. Addison Advisors LLC bought a new stake in shares of VeriSign during the second quarter worth $30,000. Sunbelt Securities Inc. lifted its stake in shares of VeriSign by 429.2% during the third quarter. Sunbelt Securities Inc. now owns 127 shares of the information services provider’s stock valued at $36,000 after acquiring an additional 103 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of VeriSign by 25.3% during the first quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock valued at $50,000 after acquiring an additional 40 shares during the period. Finally, Activest Wealth Management boosted its holdings in VeriSign by 788.0% in the fourth quarter. Activest Wealth Management now owns 222 shares of the information services provider’s stock valued at $54,000 after acquiring an additional 197 shares during the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.
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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