VeriSign, Inc. (NASDAQ:VRSN – Get Free Report) EVP Thomas Indelicarto sold 500 shares of the company’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $280.00, for a total value of $140,000.00. Following the transaction, the executive vice president owned 35,551 shares in the company, valued at $9,954,280. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing 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.
VeriSign Trading Up 3.5%
Shares of NASDAQ VRSN opened at $290.92 on Thursday. The stock has a market capitalization of $26.27 billion, a PE ratio of 31.55 and a beta of 0.71. VeriSign, Inc. has a twelve month low of $208.86 and a twelve month high of $312.48. The stock has a fifty day simple moving average of $275.26 and a 200-day simple moving average of $260.17.
VeriSign (NASDAQ:VRSN – Get Free Report) last posted its earnings results on Thursday, July 23rd. The information services provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.02. The firm had revenue of $434.60 million for 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%.VeriSign’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.21 EPS. On average, equities analysts predict that VeriSign, Inc. will post 9.56 earnings per share for the current year.
VeriSign Announces Dividend
More VeriSign News
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
Wall Street Analyst Weigh In
Several equities analysts have commented on VRSN shares. Zacks Research raised shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday. Robert W. Baird upped their price objective on VeriSign from $305.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Citigroup increased their price objective on VeriSign from $295.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Wedbush lifted their target price on VeriSign from $318.00 to $324.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. boosted their target price on VeriSign from $308.00 to $316.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, VeriSign presently has a consensus rating of “Buy” and a consensus price target of $328.75.
Read Our Latest Stock Analysis on VeriSign
Institutional Trading of VeriSign
Hedge funds have recently added to or reduced their stakes in the company. Tema ETFs LLC grew its holdings in VeriSign by 76.3% during the 2nd quarter. Tema ETFs LLC now owns 1,804 shares of the information services provider’s stock worth $454,000 after acquiring an additional 781 shares in the last quarter. Beacon Investment Advisory Services Inc. raised its holdings in shares of VeriSign by 14.4% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 1,775 shares of the information services provider’s stock valued at $447,000 after purchasing an additional 223 shares in the last quarter. LifeGoal Investments LLC purchased a new stake in shares of VeriSign during the 2nd quarter worth $232,000. Czech National Bank lifted its position in shares of VeriSign by 3.7% during the 2nd quarter. Czech National Bank now owns 23,312 shares of the information services provider’s stock worth $5,864,000 after purchasing an additional 835 shares during the last quarter. Finally, PensionDanmark Pensionsforsikringsaktieselskab grew its stake in shares of VeriSign by 7.1% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 33,065 shares of the information services provider’s stock worth $8,318,000 after purchasing an additional 2,181 shares in 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.
Read More
- Five stocks we like better than VeriSign
- Why SK hynix Could Be the Best AI Chip Stock to Buy Now
- Seagate Technology Stock Surges as Earnings Beat Silences AI Doubters
- Alphabet Is Down 18% From Its High After a Stellar Quarter—Overdone, or More Downside Ahead?
- Why Bloom Energy May Be the Most Important AI Infrastructure Stock
Receive News & Ratings for VeriSign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VeriSign and related companies with MarketBeat.com's FREE daily email newsletter.
