VeriSign (NASDAQ:VRSN) CEO Sells $960,597.00 in Stock

VeriSign, Inc. (NASDAQ:VRSNGet Free Report) CEO D. Bidzos sold 3,300 shares of VeriSign stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $291.09, for a total transaction of $960,597.00. Following the completion of the transaction, the chief executive officer directly owned 394,927 shares of the company’s stock, valued at approximately $114,959,300.43. This represents a 0.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, August 25th, D. Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $291.16, for a total transaction of $960,828.00.
  • On Tuesday, August 18th, D. Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $277.85, for a total transaction of $916,905.00.
  • On Tuesday, August 4th, D. Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $296.54, for a total transaction of $978,582.00.
  • On Tuesday, July 28th, D. Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $281.20, for a total transaction of $927,960.00.
  • On Tuesday, July 21st, D. 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. Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $266.09, for a total transaction of $878,097.00.
  • On Tuesday, June 30th, D. 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. Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $248.53, for a total value of $820,149.00.
  • On Tuesday, June 16th, D. Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $274.22, for a total value of $904,926.00.
  • On Tuesday, June 9th, D. 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.

VeriSign Trading Down 0.4%

Shares of VeriSign stock opened at $292.08 on Friday. The business’s 50 day simple moving average is $279.03 and its 200-day simple moving average is $268.88. The stock has a market capitalization of $26.37 billion, a price-to-earnings ratio of 31.68 and a beta of 0.70. VeriSign, Inc. has a twelve month low of $208.86 and a twelve month high of $312.48.

VeriSign (NASDAQ:VRSNGet Free Report) last released its quarterly earnings data on Thursday, July 23rd. The information services provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.02. The business had revenue of $434.60 million during the quarter, compared to analyst estimates of $433.19 million. VeriSign had a negative return on equity of 39.20% and a net margin of 49.76%.The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.21 EPS. Sell-side analysts predict that VeriSign, Inc. will post 9.57 earnings per share for the current year.

VeriSign Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Wednesday, August 19th were issued a dividend of $0.81 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $3.24 annualized dividend and a dividend yield of 1.1%. VeriSign’s payout ratio is 35.14%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VRSN. Zacks Research raised shares of VeriSign from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Weiss Ratings restated a “buy (b-)” rating on shares of VeriSign in a research report on Wednesday, June 24th. Wedbush raised their price target on shares of VeriSign from $324.00 to $341.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on VeriSign from $308.00 to $316.00 and gave the company a “neutral” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, VeriSign currently has an average rating of “Buy” and an average target price of $333.00.

Get Our Latest Report on VRSN

Institutional Inflows and Outflows

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

VeriSign Company Profile

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for VeriSign (NASDAQ:VRSN)

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