VeriSign (NASDAQ:VRSN) EVP Thomas Indelicarto Sells 166 Shares of Stock

VeriSign, Inc. (NASDAQ:VRSN) EVP Thomas Indelicarto sold 166 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $250.00, for a total value of $41,500.00. Following the transaction, the executive vice president owned 31,111 shares of the company’s stock, valued at $7,777,750. The trade was a 0.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

VeriSign Stock Performance

Shares of VRSN stock opened at $248.66 on Tuesday. The company has a market capitalization of $23.05 billion, a price-to-earnings ratio of 28.98 and a beta of 0.77. VeriSign, Inc. has a one year low of $205.37 and a one year high of $310.60. The company’s 50-day moving average is $246.71 and its 200 day moving average is $264.39.

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

VeriSign Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 18th were given 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 1.2%. VeriSign’s dividend payout ratio is 35.90%.

Institutional Investors Weigh In On VeriSign

Hedge funds have recently modified their holdings of the business. Czech National Bank lifted its position in VeriSign by 3.0% during the fourth quarter. Czech National Bank now owns 21,991 shares of the information services provider’s stock valued at $5,343,000 after purchasing an additional 639 shares in the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI raised its stake in shares of VeriSign by 1.0% in the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 14,606 shares of the information services provider’s stock worth $3,549,000 after buying an additional 150 shares during the period. Thrive Wealth Management LLC lifted its position in shares of VeriSign by 2.9% during the 4th quarter. Thrive Wealth Management LLC now owns 3,243 shares of the information services provider’s stock valued at $788,000 after buying an additional 91 shares in the last quarter. Pensionfund Sabic bought a new position in shares of VeriSign during the 4th quarter valued at approximately $899,000. Finally, E. Ohman J or Asset Management AB purchased a new stake in VeriSign in the 4th quarter worth approximately $725,000. Institutional investors own 92.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Citigroup restated a “buy” rating on shares of VeriSign in a research note on Friday, October 24th. Robert W. Baird set a $325.00 target price on shares of VeriSign in a report on Friday, October 24th. JPMorgan Chase & Co. increased their price target on VeriSign from $270.00 to $271.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. Zacks Research lowered VeriSign from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of VeriSign in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $282.00.

About VeriSign

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.