Key Points
- VeriSign CEO D. James Bidzos sold 3,300 shares at an average price of $302.85, generating $999,405. The transaction occurred under a pre-arranged Rule 10b5-1 trading plan, leaving him with 375,127 shares.
- Bidzos has made a series of similar 3,300-share sales since late July, indicating a recurring insider-selling pattern rather than a one-time transaction.
- VeriSign shares opened at $301.41, near their 52-week high, while analysts maintain a “Moderate Buy” consensus with an average price target of $333. The company recently exceeded quarterly earnings and revenue expectations.
VeriSign, Inc. (NASDAQ:VRSN - Get Free Report) CEO D. Bidzos sold 3,300 shares of VeriSign stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $302.85, for a total value of $999,405.00. Following the completion of the sale, the chief executive officer directly owned 375,127 shares of the company's stock, valued at approximately $113,607,211.95. This represents a 0.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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, October 6th, D. Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $292.33, for a total value of $964,689.00.
- On Tuesday, September 29th, D. Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $278.78, for a total value of $919,974.00.
- On Tuesday, September 22nd, D. Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $304.74, for a total value of $1,005,642.00.
- On Tuesday, September 15th, D. Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $296.58, for a total value of $978,714.00.
- On Tuesday, September 8th, D. Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $284.40, for a total value of $938,520.00.
- On Tuesday, September 1st, D. Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $291.09, for a total transaction of $960,597.00.
- On Tuesday, August 25th, D. Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $291.16, for a total transaction of $960,828.00.
- On Tuesday, August 18th, D. Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $277.85, for a total transaction of $916,905.00.
- On Tuesday, August 4th, D. 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. 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.
VeriSign Stock Performance
VeriSign stock opened at $301.41 on Thursday. VeriSign, Inc. has a 1 year low of $208.86 and a 1 year high of $312.48. The firm has a 50 day moving average price of $290.97 and a 200 day moving average price of $281.24. The company has a market cap of $27.22 billion, a price-to-earnings ratio of 32.69 and a beta of 0.69.
VeriSign (NASDAQ:VRSN - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The information services provider reported $2.38 EPS for the quarter, topping the consensus estimate of $2.36 by $0.02. The firm had revenue of $434.60 million during the quarter, compared to analyst estimates of $433.19 million. VeriSign had a net margin of 49.76% and a negative return on equity of 39.20%. VeriSign's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.21 earnings per share. Sell-side analysts predict that VeriSign, Inc. will post 9.59 EPS for the current year.
VeriSign Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Wednesday, August 19th were paid a dividend of $0.81 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $3.24 annualized dividend and a dividend yield of 1.1%. VeriSign's payout ratio is currently 35.14%.
Wall Street Analysts Forecast Growth
VRSN has been the topic of several research reports. Wedbush increased their target price on VeriSign from $324.00 to $341.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 1st. Zacks Research downgraded VeriSign from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 23rd. Weiss Ratings raised VeriSign from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday. Finally, JPMorgan Chase & Co. upped their price target on VeriSign from $308.00 to $316.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, VeriSign currently has a consensus rating of "Moderate Buy" and an average price target of $333.00.
Get Our Latest Report on VeriSign
Institutional Investors Weigh In On VeriSign
A number of hedge funds have recently bought and sold shares of the business. Addison Advisors LLC acquired a new position in shares of VeriSign in the 2nd quarter valued at approximately $30,000. PenderFund Capital Management Ltd. acquired a new stake in shares of VeriSign during the second quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd increased its stake in shares of VeriSign by 120.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 234 shares of the information services provider's stock worth $57,000 after buying an additional 128 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of VeriSign by 40.5% in the second quarter. NewEdge Advisors LLC now owns 243 shares of the information services provider's stock worth $61,000 after buying an additional 70 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new stake in shares of VeriSign in the first quarter worth $64,000. Institutional investors and hedge funds own 92.90% of the company's stock.
About VeriSign
(
Get Free Report)
VeriSign, Inc (NASDAQ:VRSN) provides critical internet infrastructure and domain name registry services. The company operates the authoritative registries for the .com and .net top-level domains and supports the security, stability and availability of these domains worldwide. VeriSign also operates the .name and .cc registries and provides backend registry services for additional top-level domains.
In addition to registry operations, VeriSign offers domain name system (DNS) services designed to help organizations maintain reliable online access.
Read More
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].
