Key Points
- VeriSign CEO D. James Bidzos sold 3,300 shares on June 16 at an average price of $274.22, totaling about $904,926. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- The transaction came after two similar insider sales in the prior two weeks, with Bidzos also selling 3,300 shares on June 9 and June 2. After the latest sale, he still owned 432,739 shares worth about $118.7 million.
- VeriSign shares were down 3.3% and opened at $264.92, while the company recently reported better-than-expected quarterly earnings and paid a quarterly dividend of $0.81 per share. Analysts currently have a Moderate Buy consensus rating on the stock.
VeriSign, Inc. (NASDAQ:VRSN - Get Free Report) CEO D James Bidzos sold 3,300 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $274.22, for a total transaction of $904,926.00. Following the transaction, the chief executive officer owned 432,739 shares of the company's stock, valued at $118,665,688.58. This represents a 0.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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, June 9th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $284.29, for a total transaction of $938,157.00.
- On Tuesday, June 2nd, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $297.47, for a total transaction of $981,651.00.
VeriSign Stock Down 3.3%
Shares of NASDAQ:VRSN opened at $264.92 on Thursday. The firm has a market capitalization of $24.11 billion, a PE ratio of 29.27 and a beta of 0.69. VeriSign, Inc. has a twelve month low of $208.86 and a twelve month high of $312.48. The company has a 50-day moving average price of $283.66 and a two-hundred day moving average price of $256.08.
VeriSign (NASDAQ:VRSN - Get Free Report) last issued its earnings results on Thursday, April 23rd. The information services provider reported $2.34 earnings per share for the quarter, topping analysts' consensus estimates of $2.30 by $0.04. The firm had revenue of $428.90 million during the quarter, compared to analyst estimates of $424.50 million. VeriSign had a net margin of 49.95% and a negative return on equity of 39.98%. The company's quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business earned $2.10 earnings per share. Analysts anticipate that VeriSign, Inc. will post 9.49 earnings per share for the current fiscal year.
VeriSign Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Tuesday, May 19th were given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, May 19th. VeriSign's dividend payout ratio (DPR) is 35.80%.
Analyst Ratings Changes
A number of equities analysts have recently commented on the stock. Robert W. Baird raised their price objective on shares of VeriSign from $305.00 to $355.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Weiss Ratings upgraded shares of VeriSign from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, March 27th. Citigroup raised their price objective on shares of VeriSign from $295.00 to $320.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of VeriSign from $273.00 to $278.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $317.67.
Check Out Our Latest Analysis on VRSN
Hedge Funds Weigh In On VeriSign
Large investors have recently modified their holdings of the company. DV Equities LLC purchased a new stake in VeriSign in the fourth quarter valued at approximately $28,000. Sunbelt Securities Inc. raised its stake in VeriSign by 429.2% in the third quarter. Sunbelt Securities Inc. now owns 127 shares of the information services provider's stock valued at $36,000 after purchasing an additional 103 shares in the last quarter. Board of the Pension Protection Fund purchased a new stake in VeriSign in the fourth quarter valued at approximately $39,000. Advisors Asset Management Inc. raised its stake in VeriSign by 25.3% in the first quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider's stock valued at $50,000 after purchasing an additional 40 shares in the last quarter. Finally, Activest Wealth Management raised its stake 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 purchasing an additional 197 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors.
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
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].
