VeriSign, Inc. (NASDAQ:VRSN) EVP Thomas C. Indelicarto sold 613 shares of the firm’s stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $219.63, for a total value of $134,633.19. Following the completion of the sale, the executive vice president now directly owns 56,712 shares of the company’s stock, valued at $12,455,656.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of NASDAQ:VRSN traded up $3.16 during midday trading on Thursday, reaching $220.97. 550,173 shares of the company’s stock were exchanged, compared to its average volume of 606,155. The stock has a 50 day moving average price of $215.38. The company has a market capitalization of $24.89 billion, a PE ratio of 39.86 and a beta of 0.81. VeriSign, Inc. has a fifty-two week low of $184.60 and a fifty-two week high of $226.18.
VeriSign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, April 22nd. The information services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $323.62 million during the quarter, compared to the consensus estimate of $322.82 million. VeriSign had a negative return on equity of 45.21% and a net margin of 49.42%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the company earned $1.42 EPS. As a group, sell-side analysts expect that VeriSign, Inc. will post 5.35 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. Fiera Capital Corp increased its position in shares of VeriSign by 2.1% during the 1st quarter. Fiera Capital Corp now owns 154,359 shares of the information services provider’s stock worth $30,680,000 after purchasing an additional 3,198 shares during the last quarter. NFC Investments LLC purchased a new position in VeriSign during the 4th quarter valued at about $6,967,000. Atalan Capital Partners LP boosted its holdings in VeriSign by 2.0% during the 4th quarter. Atalan Capital Partners LP now owns 617,000 shares of the information services provider’s stock valued at $133,519,000 after acquiring an additional 12,000 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in VeriSign by 3.2% during the 1st quarter. Crossmark Global Holdings Inc. now owns 6,131 shares of the information services provider’s stock valued at $1,219,000 after acquiring an additional 190 shares during the period. Finally, Commerce Bank boosted its holdings in VeriSign by 1.8% during the 1st quarter. Commerce Bank now owns 49,741 shares of the information services provider’s stock valued at $9,886,000 after acquiring an additional 900 shares during the period. 89.46% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the company. Citigroup raised their target price on VeriSign from $235.00 to $245.00 in a research note on Friday, April 23rd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on VeriSign from $235.00 to $245.00 in a research note on Friday, April 23rd. Finally, Zacks Investment Research downgraded VeriSign from a “hold” rating to a “sell” rating and set a $213.00 target price for the company. in a research note on Monday, February 15th.
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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