Thomas C. Indelicarto Sells 614 Shares of VeriSign, Inc. (NASDAQ:VRSN) Stock

VeriSign, Inc. (NASDAQ:VRSN) EVP Thomas C. Indelicarto sold 614 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $190.00, for a total value of $116,660.00. Following the completion of the sale, the executive vice president now directly owns 41,955 shares in the company, valued at $7,971,450. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

VeriSign Stock Down 2.3 %

Shares of NASDAQ VRSN opened at $185.43 on Friday. VeriSign, Inc. has a twelve month low of $185.19 and a twelve month high of $229.72. The firm has a market cap of $18.57 billion, a P/E ratio of 23.41 and a beta of 0.88. The company has a 50 day moving average of $192.22 and a 200 day moving average of $201.47.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, February 8th. The information services provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.09. VeriSign had a net margin of 54.74% and a negative return on equity of 46.56%. The company had revenue of $380.40 million during the quarter, compared to analyst estimates of $381.01 million. As a group, equities analysts expect that VeriSign, Inc. will post 7.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup dropped their price target on VeriSign from $237.00 to $236.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. StockNews.com lowered shares of VeriSign from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd.

Institutional Investors Weigh In On VeriSign

Hedge funds have recently added to or reduced their stakes in the stock. Seven Eight Capital LP raised its stake in VeriSign by 41.4% during the 3rd quarter. Seven Eight Capital LP now owns 1,888 shares of the information services provider’s stock valued at $382,000 after buying an additional 553 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC raised its stake in VeriSign by 59.8% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 9,746 shares of the information services provider’s stock valued at $1,974,000 after buying an additional 3,647 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in VeriSign by 3.0% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 772,330 shares of the information services provider’s stock valued at $159,069,000 after buying an additional 22,796 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in VeriSign by 7.4% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,623 shares of the information services provider’s stock valued at $734,000 after buying an additional 249 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in VeriSign by 17.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 660,463 shares of the information services provider’s stock valued at $133,764,000 after buying an additional 96,676 shares during the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

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.