D James Bidzos Sells 3,300 Shares of VeriSign (NASDAQ:VRSN) Stock

Key Points

  • VeriSign CEO D. James Bidzos sold 3,300 shares at an average price of $277.85, generating $916,905. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with 401,389 shares.
  • Bidzos has made a series of similar 3,300-share sales since June, including transactions on July 7, July 21, July 28, and August 4.
  • VeriSign recently exceeded quarterly earnings and revenue expectations, while analysts maintain a consensus “Buy” rating with a $328.75 price target. The company also declared a quarterly dividend of $0.81 per share, representing a 1.2% yield.

VeriSign, Inc. (NASDAQ:VRSN - Get Free Report) CEO D James Bidzos sold 3,300 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $277.85, for a total transaction of $916,905.00. Following the completion of the sale, the chief executive officer directly owned 401,389 shares in the company, valued at $111,525,933.65. This represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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, August 4th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $296.54, for a total transaction of $978,582.00.
  • On Tuesday, July 28th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $281.20, for a total transaction of $927,960.00.
  • On Tuesday, July 21st, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was 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 shares were 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 shares were sold at an average price of $248.53, for a total value 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 value of $904,926.00.
  • 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 value 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 value of $981,651.00.

VeriSign Trading Down 1.3%




Shares of VeriSign stock opened at $273.03 on Thursday. The firm has a market capitalization of $24.65 billion, a PE ratio of 29.61 and a beta of 0.70. The business's 50-day moving average price is $272.61 and its 200-day moving average price is $264.18. VeriSign, Inc. has a 12 month low of $208.86 and a 12 month high of $312.48.

VeriSign (NASDAQ:VRSN - Get Free Report) last released its earnings results on Thursday, July 23rd. The information services provider reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.02. The company had revenue of $434.60 million during the quarter, compared to the consensus estimate of $433.19 million. VeriSign had a negative return on equity of 39.20% and a net margin of 49.76%.VeriSign's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.21 EPS. As a group, analysts predict that VeriSign, Inc. will post 9.56 earnings per share for the current fiscal year.

VeriSign Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, August 19th. VeriSign's dividend payout ratio is presently 35.14%.

Institutional Trading of VeriSign

A number of institutional investors have recently modified their holdings of VRSN. DV Equities LLC bought a new stake in shares of VeriSign in the 4th quarter worth approximately $28,000. Addison Advisors LLC bought a new stake in shares of VeriSign during the 2nd quarter valued at about $30,000. Sunbelt Securities Inc. boosted its stake in shares of VeriSign by 429.2% during the 3rd 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. PenderFund Capital Management Ltd. purchased a new position in shares of VeriSign during the second quarter valued at about $40,000. Finally, Advisors Asset Management Inc. increased its position in shares of VeriSign by 25.3% during the first quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider's stock valued at $50,000 after buying an additional 40 shares during the period. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VRSN has been the topic of several analyst reports. Robert W. Baird lifted their price objective on VeriSign from $305.00 to $355.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Weiss Ratings restated a "buy (b-)" rating on shares of VeriSign in a research report on Wednesday, June 24th. Zacks Research upgraded VeriSign from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. 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 note on Friday, July 24th. Finally, Wedbush raised their target price on shares of VeriSign from $318.00 to $324.00 and gave the stock an "outperform" rating in a 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 given a Hold rating to the stock. Based on data from MarketBeat.com, VeriSign presently has a consensus rating of "Buy" and a consensus target price of $328.75.

Check Out 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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