VeriSign (NASDAQ:VRSN) CEO Sells 3,300 Shares

Key Points

  • CEO D. James Bidzos sold 3,300 VeriSign shares for approximately $978,582 at an average price of $296.54 under a pre-arranged Rule 10b5-1 trading plan. He retained 409,639 shares, valued at roughly $121.5 million.
  • VeriSign reported quarterly revenue of $434.6 million and earnings of $2.38 per share, exceeding analyst estimates, while revenue increased 6% year over year.
  • The company declared a quarterly dividend of $0.81 per share, equivalent to a $3.24 annualized payout and a 1.1% yield. Analysts maintain an overall “Buy” rating with an average price target of $328.75.

VeriSign, Inc. (NASDAQ:VRSN - Get Free Report) CEO D James Bidzos sold 3,300 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $296.54, for a total value of $978,582.00. Following the completion of the sale, the chief executive officer directly owned 409,639 shares in the company, valued at $121,474,349.06. This represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, July 28th, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $281.20, for a total value of $927,960.00.
  • On Tuesday, July 21st, D James 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 James 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 James 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 James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $248.53, for a total transaction of $820,149.00.
  • On Tuesday, June 16th, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $274.22, for a total transaction of $904,926.00.
  • On Tuesday, June 9th, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were 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 shares were sold at an average price of $297.47, for a total transaction of $981,651.00.

VeriSign Trading Down 1.9%




NASDAQ VRSN opened at $293.41 on Thursday. VeriSign, Inc. has a 52 week low of $208.86 and a 52 week high of $312.48. The stock has a market cap of $26.49 billion, a price-to-earnings ratio of 31.82 and a beta of 0.70. The company has a 50-day moving average price of $274.05 and a two-hundred day moving average price of $261.76.

VeriSign (NASDAQ:VRSN - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The information services provider reported $2.38 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.02. The company had revenue of $434.60 million for the quarter, compared to analysts' expectations 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 company posted $2.21 earnings per share. As a group, equities research analysts expect that VeriSign, Inc. will post 9.56 earnings per share for the current fiscal year.

VeriSign Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Wednesday, August 19th will be paid a $0.81 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.24 annualized dividend and a dividend yield of 1.1%. VeriSign's dividend payout ratio is presently 35.14%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Summit Global Investments acquired a new stake in shares of VeriSign during the second quarter valued at approximately $1,474,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of VeriSign in the 2nd quarter valued at approximately $12,147,000. Mill Capital Management LLC acquired a new position in VeriSign in the 2nd quarter worth approximately $16,840,000. Tema ETFs LLC boosted its stake in VeriSign by 76.3% in the 2nd quarter. Tema ETFs LLC now owns 1,804 shares of the information services provider's stock worth $454,000 after purchasing an additional 781 shares during the period. Finally, Beacon Investment Advisory Services Inc. grew its position in VeriSign by 14.4% during the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 1,775 shares of the information services provider's stock worth $447,000 after purchasing an additional 223 shares in the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VRSN has been the topic of several recent research reports. Weiss Ratings restated a "buy (b-)" rating on shares of VeriSign in a research report on Wednesday, June 24th. JPMorgan Chase & Co. increased their price objective on VeriSign from $308.00 to $316.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Zacks Research raised VeriSign from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Robert W. Baird lifted their target price on VeriSign from $305.00 to $355.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Finally, Wedbush boosted their target price on VeriSign from $318.00 to $324.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, VeriSign has an average rating of "Buy" and an average price target of $328.75.

Get Our Latest Research Report on VRSN

About VeriSign

(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.

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