Insider Selling: VeriSign (NASDAQ:VRSN) CEO Sells $1,222,950.00 in Stock

VeriSign, Inc. (NASDAQ:VRSN) CEO D James Bidzos sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $244.59, for a total transaction of $1,222,950.00. Following the sale, the chief executive officer owned 434,099 shares in the company, valued at approximately $106,176,274.41. This trade represents a 1.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

D James Bidzos also recently made the following trade(s):

• On Wednesday, December 10th, D James Bidzos sold 2,000 shares of VeriSign stock. The shares were sold at an average price of $242.07, for a total value of $484,140.00.
• On Wednesday, November 19th, D James Bidzos sold 2,000 shares of VeriSign stock. The shares were sold at an average price of $246.05, for a total value of $492,100.00.
• On Tuesday, November 18th, D James Bidzos sold 5,000 shares of VeriSign stock. The stock was sold at an average price of $250.05, for a total value of $1,250,250.00.
• On Wednesday, November 12th, D James Bidzos sold 2,000 shares of VeriSign stock. The shares were sold at an average price of $251.27, for a total value of $502,540.00.
• On Tuesday, November 11th, D James Bidzos sold 5,000 shares of VeriSign stock. The shares were sold at an average price of $248.14, for a total value of $1,240,700.00.
• On Wednesday, October 22nd, D James Bidzos sold 2,000 shares of VeriSign stock. The stock was sold at an average price of $261.54, for a total value of $523,080.00.
• On Tuesday, October 21st, D James Bidzos sold 5,000 shares of VeriSign stock. The stock was sold at an average price of $267.43, for a total value of $1,337,150.00.
• On Wednesday, October 15th, D James Bidzos sold 2,000 shares of VeriSign stock. The shares were sold at an average price of $264.06, for a total transaction of $528,120.00.
• On Tuesday, October 14th, D James Bidzos sold 5,000 shares of VeriSign stock. The stock was sold at an average price of $265.57, for a total transaction of $1,327,850.00.
• On Wednesday, September 17th, D James Bidzos sold 2,000 shares of VeriSign stock. The shares were sold at an average price of $288.48, for a total transaction of $576,960.00.

VeriSign Stock Down 0.8%

Shares of NASDAQ:VRSN opened at $242.00 on Friday. The stock has a market cap of $22.43 billion, a PE ratio of 28.21 and a beta of 0.78. The company’s fifty day moving average is $251.49 and its 200 day moving average is $269.55. VeriSign, Inc. has a 52 week low of $191.12 and a 52 week high of $310.60.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, October 23rd. The information services provider reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.02. VeriSign had a negative return on equity of 40.66% and a net margin of 49.86%.The firm had revenue of $419.10 million for the quarter, compared to analysts’ expectations of $416.71 million. During the same period last year, the firm earned $2.07 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year.

VeriSign Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 18th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, November 18th. VeriSign’s payout ratio is 35.90%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in VRSN. Livelsberger Financial Advisory bought a new stake in shares of VeriSign during the 2nd quarter valued at about $27,000. Bruce G. Allen Investments LLC lifted its holdings in VeriSign by 56.5% in the second quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider’s stock worth $28,000 after buying an additional 35 shares during the period. Salomon & Ludwin LLC boosted its position in VeriSign by 112.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 54 shares in the last quarter. Root Financial Partners LLC bought a new stake in VeriSign during the 3rd quarter valued at approximately $29,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of VeriSign during the 1st quarter worth approximately $34,000. 92.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VRSN has been the subject of a number of analyst reports. Zacks Research raised VeriSign to a “hold” rating in a research note on Thursday, October 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of VeriSign in a research report on Monday, December 8th. Citigroup restated a “buy” rating on shares of VeriSign in a research report on Friday, October 24th. Robert W. Baird set a $325.00 target price on shares of VeriSign in a report on Friday, October 24th. Finally, JPMorgan Chase & Co. began coverage on VeriSign in a research note on Tuesday, October 28th. They issued a “neutral” rating and a $270.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $281.67.

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. 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.