Insider Selling: VeriSign (NASDAQ:VRSN) CEO Sells $496,560.00 in Stock

VeriSign, Inc. (NASDAQ:VRSNGet Free Report) CEO D James Bidzos sold 2,000 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $248.28, for a total transaction of $496,560.00. Following the completion of the sale, the chief executive officer owned 414,099 shares of the company’s stock, valued at $102,812,499.72. This trade represents a 0.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

  • On Tuesday, January 13th, D James Bidzos sold 5,000 shares of VeriSign stock. The stock was sold at an average price of $248.20, for a total transaction of $1,241,000.00.
  • On Wednesday, December 17th, D James Bidzos sold 2,000 shares of VeriSign stock. The shares were sold at an average price of $244.25, for a total transaction of $488,500.00.
  • On Tuesday, December 16th, D James Bidzos sold 5,000 shares of VeriSign stock. The shares were sold at an average price of $241.79, for a total value 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 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 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.

VeriSign Stock Up 0.1%

Shares of NASDAQ VRSN opened at $249.47 on Friday. The stock has a market capitalization of $23.13 billion, a price-to-earnings ratio of 29.08 and a beta of 0.77. VeriSign, Inc. has a 52 week low of $205.37 and a 52 week high of $310.60. The firm has a 50-day moving average price of $247.28 and a 200 day moving average price of $263.44.

VeriSign (NASDAQ:VRSNGet Free Report) last issued its earnings results 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 net margin of 49.86% and a negative return on equity of 40.66%. The company had revenue of $419.10 million during the quarter, compared to analysts’ expectations of $416.71 million. During the same period last year, the company posted $2.07 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year.

VeriSign Announces Dividend

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 dividend of $0.77 per share. 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 payout ratio is currently 35.90%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on VeriSign from $270.00 to $271.00 and gave the company a “neutral” rating in a research report on Tuesday, January 6th. Weiss Ratings restated a “hold (c+)” rating on shares of VeriSign in a report on Monday, December 29th. Robert W. Baird set a $325.00 target price on shares of VeriSign in a research report on Friday, October 24th. Citigroup reiterated a “buy” rating on shares of VeriSign in a research report on Friday, October 24th. Finally, Zacks Research cut shares of VeriSign from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 30th. Two equities research 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.com, VeriSign presently has an average rating of “Hold” and a consensus target price of $282.00.

View Our Latest Stock Analysis on VRSN

Institutional Investors Weigh In On VeriSign

Several hedge funds have recently modified their holdings of the company. Bruce G. Allen Investments LLC lifted its stake in shares of VeriSign by 56.5% during the second quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider’s stock valued at $28,000 after buying an additional 35 shares during the period. Zions Bancorporation National Association UT lifted its stake in shares of VeriSign by 20.2% during the 2nd 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 period. Advisors Asset Management Inc. boosted its holdings in shares of VeriSign by 25.3% during the first quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock worth $50,000 after purchasing an additional 40 shares during the last quarter. Accretive Wealth Partners LLC grew its position in shares of VeriSign by 0.8% in the third quarter. Accretive Wealth Partners LLC now owns 5,779 shares of the information services provider’s stock valued at $1,616,000 after purchasing an additional 44 shares during the period. Finally, Gries Financial LLC increased its stake in VeriSign by 2.8% in the second quarter. Gries Financial LLC now owns 1,745 shares of the information services provider’s stock valued at $504,000 after purchasing an additional 47 shares during the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.

About VeriSign

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for VeriSign (NASDAQ:VRSN)

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