VeriSign, Inc. (NASDAQ:VRSN) COO Todd B. Strubbe sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 7th. The shares were sold at an average price of $231.32, for a total value of $693,960.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
NASDAQ:VRSN traded down $1.02 during trading hours on Thursday, hitting $231.81. 427,800 shares of the company were exchanged, compared to its average volume of 607,040. The business’s fifty day moving average is $222.57. VeriSign, Inc. has a one year low of $184.60 and a one year high of $234.12. The company has a market cap of $26.11 billion, a PE ratio of 41.99 and a beta of 0.82.
VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, April 22nd. The information services provider reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.04. VeriSign had a negative return on equity of 45.21% and a net margin of 49.42%. The firm had revenue of $323.62 million during the quarter, compared to analyst estimates of $322.82 million. During the same period last year, the company posted $1.42 EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, equities analysts expect that VeriSign, Inc. will post 5.35 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price objective on VeriSign from $235.00 to $245.00 in a report on Friday, April 23rd. Citigroup raised their price objective on VeriSign from $235.00 to $245.00 in a report on Friday, April 23rd.
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Several hedge funds have recently bought and sold shares of the company. ADE LLC bought a new stake in VeriSign in the 4th quarter valued at about $31,000. Neo Ivy Capital Management bought a new stake in VeriSign in the 4th quarter valued at about $33,000. Founders Financial Alliance LLC bought a new stake in VeriSign in the 1st quarter valued at about $36,000. Alpha Paradigm Partners LLC acquired a new position in VeriSign during the 1st quarter valued at about $40,000. Finally, Prentice Wealth Management LLC acquired a new position in VeriSign during the 1st quarter valued at about $42,000. 88.73% of the stock is owned by hedge funds and other institutional investors.
VeriSign Company Profile
VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. It enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of the 13 internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which support global e-commerce.
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7 Stocks to Buy Now and Avoid a Summer Swoon
Summer is generally a quiet time in the markets. Institutional investors, generally speaking, take some time away. In fact, that’s where the idiom “Sell in May and Go Away” comes from.
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