Victory Capital Management Inc. Sells 24,133 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Posted by Defense World Staff on May 21st, 2023

Victory Capital Management Inc. decreased its position in shares of VeriSign, Inc. (NASDAQ:VRSN – Get Rating) by 17.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,023 shares of the information services provider’s stock after selling 24,133 shares during the quarter. Victory Capital Management Inc. owned about 0.11% of VeriSign worth $24,645,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Concord Wealth Partners bought a new position in VeriSign during the 4th quarter worth approximately $25,000. Capital Directions Investment Advisors LLC bought a new position in VeriSign during the 4th quarter worth approximately $28,000. Accurate Wealth Management LLC bought a new position in VeriSign during the 4th quarter worth approximately $29,000. General Partner Inc. bought a new position in VeriSign during the 4th quarter worth approximately $31,000. Finally, Tobam bought a new position in VeriSign during the 4th quarter worth approximately $34,000. Institutional investors own 91.21% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Citigroup lifted their price target on shares of VeriSign from $243.00 to $252.00 and gave the company a “buy” rating in a research note on Monday, February 13th. StockNews.com assumed coverage on shares of VeriSign in a research note on Thursday. They issued a “hold” rating on the stock.

Insider Transactions at VeriSign

In other news, EVP Danny R. Mcpherson sold 125 shares of the business’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $201.88, for a total value of $25,235.00. Following the sale, the executive vice president now owns 27,536 shares of the company’s stock, valued at $5,558,967.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Danny R. Mcpherson sold 125 shares of the business’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $201.88, for a total transaction of $25,235.00. Following the transaction, the executive vice president now directly owns 27,536 shares in the company, valued at $5,558,967.68. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO D James Bidzos sold 2,000 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $225.05, for a total transaction of $450,100.00. Following the transaction, the chief executive officer now owns 601,642 shares in the company, valued at $135,399,532.10. The disclosure for this sale can be found here. Insiders have sold a total of 50,924 shares of company stock valued at $10,766,250 over the last 90 days. 0.94% of the stock is owned by corporate insiders.

VeriSign Stock Up 0.7 %

Shares of VRSN stock opened at $227.41 on Friday. The company’s fifty day simple moving average is $212.53 and its 200-day simple moving average is $206.24. The firm has a market cap of $23.72 billion, a PE ratio of 34.88 and a beta of 1.01. VeriSign, Inc. has a 12 month low of $155.25 and a 12 month high of $227.84.

VeriSign (NASDAQ:VRSN – Get Rating) last announced its quarterly earnings data on Thursday, April 27th. The information services provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. The business had revenue of $364.40 million for the quarter, compared to analyst estimates of $367.32 million. VeriSign had a net margin of 48.20% and a negative return on equity of 45.19%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 earnings per share. On average, equities analysts predict that VeriSign, Inc. will post 6.92 earnings per share for the current fiscal year.

About VeriSign

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VeriSign, Inc provides domain name registry services and Internet infrastructure, which enables Internet navigation for many of the world’s most recognized domain names. It enables the security, stability, and resiliency of key Internet infrastructure and services, including providing root zone maintainer services.