Key Points
- Insider sale: VeriSign EVP Thomas Indelicarto sold 501 shares on December 9 at an average price of $250.07 for about $125,285, reducing his stake by 1.56% to 31,609 shares, per the SEC filing.
- Company snapshot: VRSN trades near $245 with a $22.74B market cap and a 28.4 P/E; it reported quarterly EPS of $2.27 (beating estimates) with revenue up 7.3% year-over-year and pays a $0.77 quarterly dividend (≈1.3% yield).
VeriSign, Inc. (NASDAQ:VRSN - Get Free Report) EVP Thomas Indelicarto sold 501 shares of the firm's stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $250.07, for a total value of $125,285.07. Following the transaction, the executive vice president directly owned 31,609 shares of the company's stock, valued at $7,904,462.63. This represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
VeriSign Price Performance
NASDAQ:VRSN opened at $245.25 on Thursday. The firm's 50-day moving average price is $252.73 and its 200-day moving average price is $269.99. The company has a market capitalization of $22.74 billion, a PE ratio of 28.41 and a beta of 0.78. VeriSign, Inc. has a 1-year low of $191.12 and a 1-year high of $310.60.
VeriSign (NASDAQ:VRSN - Get Free Report) last issued its quarterly earnings results on Thursday, October 23rd. The information services provider reported $2.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.25 by $0.02. VeriSign had a net margin of 49.86% and a negative return on equity of 40.66%. The company had revenue of $419.10 million during the quarter, compared to analysts' expectations of $416.71 million. During the same period last year, the company posted $2.07 EPS. VeriSign's revenue was up 7.3% on a year-over-year basis.
VeriSign Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 18th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, November 18th. VeriSign's payout ratio is currently 35.90%.
Analyst Ratings Changes
Several analysts recently weighed in on the company. Weiss Ratings restated a "hold (c+)" rating on shares of VeriSign in a research note on Monday. Citigroup reissued a "buy" rating on shares of VeriSign in a report on Friday, October 24th. JPMorgan Chase & Co. assumed coverage on VeriSign in a research note on Tuesday, October 28th. They issued a "neutral" rating and a $270.00 target price on the stock. Robert W. Baird set a $325.00 price target on VeriSign in a report on Friday, October 24th. Finally, Zacks Research upgraded shares of VeriSign to a "hold" rating in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $281.67.
Read Our Latest Report on VRSN
Institutional Trading of VeriSign
A number of institutional investors and hedge funds have recently modified their holdings of VRSN. Livelsberger Financial Advisory bought a new position in shares of VeriSign during the second quarter valued at $27,000. Bruce G. Allen Investments LLC increased its holdings in VeriSign by 56.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider's stock worth $28,000 after buying an additional 35 shares in the last quarter. Salomon & Ludwin LLC raised its position in VeriSign by 112.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider's stock worth $28,000 after buying an additional 54 shares during the last quarter. Root Financial Partners LLC bought a new position in VeriSign during the 3rd quarter valued at about $29,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in VeriSign during the 1st quarter valued at about $34,000. Institutional investors own 92.90% of the company's stock.
About VeriSign
(
Get Free Report)
VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
