VeriSign (NASDAQ:VRSN) EVP Thomas Indelicarto Sells 332 Shares

VeriSign, Inc. (NASDAQ:VRSN) EVP Thomas Indelicarto sold 332 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $240.62, for a total value of $79,885.84. Following the sale, the executive vice president owned 39,696 shares of the company’s stock, valued at approximately $9,551,651.52. This trade represents a 0.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

VeriSign Price Performance

Shares of VRSN stock traded up $3.24 during trading hours on Thursday, reaching $238.97. 186,895 shares of the company were exchanged, compared to its average volume of 768,288. VeriSign, Inc. has a fifty-two week low of $208.86 and a fifty-two week high of $310.60. The stock’s fifty day moving average is $236.46 and its two-hundred day moving average is $251.58. The company has a market cap of $21.91 billion, a price-to-earnings ratio of 27.19 and a beta of 0.76.

VeriSign (NASDAQ:VRSN) last released its earnings results on Thursday, February 5th. The information services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.06). The business had revenue of $425.30 million for the quarter, compared to analyst estimates of $424.04 million. VeriSign had a net margin of 49.84% and a negative return on equity of 40.40%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.00 earnings per share.

VeriSign Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Thursday, February 19th were paid a $0.81 dividend. The ex-dividend date of this dividend was Thursday, February 19th. This is an increase from VeriSign’s previous quarterly dividend of $0.77. This represents a $3.24 dividend on an annualized basis and a yield of 1.4%. VeriSign’s payout ratio is presently 36.78%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on VeriSign from $270.00 to $271.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 6th. Zacks Research raised shares of VeriSign from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of VeriSign in a report on Monday, December 29th. Finally, Citigroup lowered their price target on shares of VeriSign from $337.00 to $280.00 and set a “buy” rating for the company in a report on Monday, February 9th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, VeriSign presently has an average rating of “Hold” and an average price target of $292.00.

Institutional Trading of VeriSign

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Corient Private Wealth LLC boosted its stake in VeriSign by 109.7% in the fourth quarter. Corient Private Wealth LLC now owns 35,351 shares of the information services provider’s stock worth $8,589,000 after buying an additional 18,492 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of VeriSign by 120.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 234 shares of the information services provider’s stock worth $57,000 after acquiring an additional 128 shares in the last quarter. Wick Capital Partners LLC bought a new position in shares of VeriSign during the fourth quarter valued at approximately $408,000. Titan Investment Management LLC purchased a new stake in VeriSign during the 4th quarter valued at about $1,455,000. Finally, Vancity Investment Management Ltd bought a new stake in shares of VeriSign in the 4th quarter worth $241,000. 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.