Insider Selling: VeriSign (NASDAQ:VRSN) CEO Sells $488,500.00 in Stock

VeriSign, Inc. (NASDAQ:VRSN) CEO D James Bidzos sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $244.25, for a total transaction of $488,500.00. Following the completion of the sale, the chief executive officer directly owned 423,099 shares of the company’s stock, valued at $103,341,930.75. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, December 16th, D James Bidzos sold 5,000 shares of VeriSign stock. The stock was sold at an average price of $241.79, for a total transaction of $1,208,950.00.
• On Wednesday, December 10th, D James Bidzos sold 2,000 shares of VeriSign stock. The stock was sold at an average price of $242.07, for a total value of $484,140.00.
• On Tuesday, December 9th, D James Bidzos sold 5,000 shares of VeriSign stock. The shares were sold at an average price of $244.59, for a total value of $1,222,950.00.
• On Wednesday, November 19th, D James Bidzos sold 2,000 shares of VeriSign stock. The stock was 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 shares were 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 stock was 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 stock was sold at an average price of $248.14, for a total transaction of $1,240,700.00.
• On Wednesday, October 22nd, D James Bidzos sold 2,000 shares of VeriSign stock. The shares were sold at an average price of $261.54, for a total transaction 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 transaction 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.

VeriSign Stock Down 0.1%

Shares of VRSN stock opened at $244.03 on Friday. The firm has a market cap of $22.62 billion, a P/E ratio of 28.44 and a beta of 0.78. The company has a 50 day moving average of $249.16 and a 200-day moving average of $268.55. VeriSign, Inc. has a 12-month low of $193.95 and a 12-month high of $310.60.

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

VeriSign Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 18th were issued a $0.77 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $3.08 annualized dividend and a yield of 1.3%. VeriSign’s dividend payout ratio (DPR) is 35.90%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of VeriSign in a research note on Monday, December 15th. Citigroup reiterated a “buy” rating on shares of VeriSign in a research note on Friday, October 24th. Zacks Research upgraded VeriSign to a “hold” rating in a research report on Thursday, October 30th. Robert W. Baird set a $325.00 price target on VeriSign in a report on Friday, October 24th. Finally, JPMorgan Chase & Co. assumed coverage on VeriSign in a research note on Tuesday, October 28th. They set a “neutral” rating and a $270.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, VeriSign has an average rating of “Hold” and an average price target of $281.67.

Institutional Trading of VeriSign

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bruce G. Allen Investments LLC grew its position 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 acquiring an additional 35 shares in the last quarter. Zions Bancorporation National Association UT lifted its stake in VeriSign by 20.2% during the second quarter. Zions Bancorporation National Association UT now owns 226 shares of the information services provider’s stock worth $65,000 after purchasing an additional 38 shares during the last quarter. Flputnam Investment Management Co. boosted its holdings in shares of VeriSign by 1.8% in the 1st quarter. Flputnam Investment Management Co. now owns 2,183 shares of the information services provider’s stock worth $554,000 after purchasing an additional 39 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of VeriSign by 25.3% during the 1st quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock valued at $50,000 after purchasing an additional 40 shares during the last quarter. Finally, Accretive Wealth Partners LLC raised its holdings in shares of VeriSign by 0.8% during the 3rd quarter. Accretive Wealth Partners LLC now owns 5,779 shares of the information services provider’s stock valued at $1,616,000 after buying an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

VeriSign Company Profile

VeriSign, Inc (NASDAQ: VRSN) is an internet infrastructure company that operates critical components of the global Domain Name System (DNS) and provides cybersecurity-related services. The company is best known as the authoritative registry operator for the .com and .net top-level domains, maintaining the central databases and zone files that enable domain name resolution for millions of websites. VeriSign’s registry role is performed under contractual agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and involves high-availability, highly secure operations to support continuous internet connectivity.

In addition to its registry business, VeriSign offers a suite of services designed to protect and accelerate DNS and internet traffic for enterprises and service providers.