VeriSign (NASDAQ:VRSN) Reaches New 12-Month Low at $181.01

VeriSign, Inc. (NASDAQ:VRSN)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $181.01 and last traded at $183.59, with a volume of 117961 shares. The stock had previously closed at $185.12.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. StockNews.com lowered VeriSign from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Citigroup reduced their price objective on VeriSign from $237.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd.

VeriSign Trading Down 1.5 %

The stock has a market capitalization of $18.29 billion, a PE ratio of 23.07 and a beta of 0.88. The firm has a 50 day moving average price of $189.66 and a 200 day moving average price of $200.25.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings results on Thursday, February 8th. The information services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.09. VeriSign had a negative return on equity of 46.56% and a net margin of 54.74%. The business had revenue of $380.40 million during the quarter, compared to analyst estimates of $381.01 million.

Insiders Place Their Bets

In other VeriSign news, EVP Danny R. Mcpherson sold 2,875 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $194.19, for a total value of $558,296.25. Following the completion of the sale, the executive vice president now owns 30,895 shares in the company, valued at approximately $5,999,500.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other VeriSign news, EVP Thomas C. Indelicarto sold 614 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $190.00, for a total transaction of $116,660.00. Following the completion of the transaction, the executive vice president now owns 41,955 shares of the company’s stock, valued at approximately $7,971,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Danny R. Mcpherson sold 2,875 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $194.19, for a total transaction of $558,296.25. Following the transaction, the executive vice president now directly owns 30,895 shares of the company’s stock, valued at approximately $5,999,500.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,877 shares of company stock worth $2,878,864. Corporate insiders own 0.94% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of VeriSign by 52.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 152 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 52 shares during the last quarter. Baldwin Brothers LLC MA boosted its holdings in shares of VeriSign by 158.6% during the 4th quarter. Baldwin Brothers LLC MA now owns 181 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 111 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of VeriSign by 91.7% during the 3rd quarter. UMB Bank n.a. now owns 347 shares of the information services provider’s stock valued at $70,000 after purchasing an additional 166 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of VeriSign by 251.5% in the 3rd quarter. Larson Financial Group LLC now owns 355 shares of the information services provider’s stock valued at $72,000 after acquiring an additional 254 shares during the last quarter. Finally, Quarry LP bought a new position in shares of VeriSign in the 4th quarter valued at about $76,000. Institutional investors own 92.90% of the company’s stock.

About VeriSign

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.