VeriSign (NASDAQ:VRSN) EVP Thomas Indelicarto Sells 501 Shares of Stock

by · The Cerbat Gem

VeriSign, Inc. (NASDAQ:VRSN – Get Free Report) EVP Thomas Indelicarto sold 501 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $250.07, for a total transaction of $125,285.07. Following the completion of the sale, the executive vice president owned 31,609 shares of the company’s stock, valued at approximately $7,904,462.63. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

VeriSign Stock Performance

VRSN stock opened at $245.25 on Thursday. The firm has a market cap of $22.74 billion, a P/E ratio of 28.41 and a beta of 0.78. The firm’s fifty day moving average is $252.73 and its 200 day moving average is $269.99. VeriSign, Inc. has a 52 week low of $191.12 and a 52 week high of $310.60.

VeriSign (NASDAQ:VRSN – Get Free Report) last posted its quarterly earnings results on Thursday, October 23rd. The information services provider reported $2.27 earnings per share 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 the consensus estimate of $416.71 million. During the same period in the previous year, the firm posted $2.07 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis.

VeriSign Announces Dividend

The business also recently announced 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 was Tuesday, November 18th. This represents a $3.08 annualized dividend and a yield of 1.3%. VeriSign’s dividend payout ratio is currently 35.90%.

Institutional Trading of VeriSign

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Livelsberger Financial Advisory purchased a new position in VeriSign during the 2nd quarter valued at $27,000. Bruce G. Allen Investments LLC boosted its stake in shares of VeriSign by 56.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 35 shares in the last quarter. Salomon & Ludwin LLC increased its position in shares of VeriSign by 112.5% during the third quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider’s stock valued at $28,000 after buying an additional 54 shares during the period. Root Financial Partners LLC purchased a new position in shares of VeriSign during the third quarter valued at about $29,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in VeriSign in the first quarter worth about $34,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on VRSN. Citigroup restated a “buy” rating on shares of VeriSign in a research report on Friday, October 24th. 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 for the company. Robert W. Baird set a $325.00 target price on shares of VeriSign in a research note on Friday, October 24th. Zacks Research raised shares of VeriSign to a “hold” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of VeriSign in a research report on Monday. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $281.67.

Check Out Our Latest Research Report on VRSN

About VeriSign

(Get Free Report)

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.

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