Insider Selling: VeriSign, Inc. (NASDAQ:VRSN) Director Sells $115,355.65 in Stock

Posted by Defense World Staff on Nov 3rd, 2023

VeriSign, Inc. (NASDAQ:VRSN – Get Free Report) Director Timothy Tomlinson sold 589 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $195.85, for a total value of $115,355.65. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,937,750. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

VeriSign Trading Up 3.0 %

VRSN opened at $200.35 on Friday. The business’s 50 day moving average is $204.26 and its 200-day moving average is $212.73. The stock has a market cap of $20.66 billion, a PE ratio of 28.54 and a beta of 0.94. VeriSign, Inc. has a twelve month low of $175.20 and a twelve month high of $229.72.

VeriSign (NASDAQ:VRSN – Get Free Report) last posted its quarterly earnings results on Thursday, October 26th. The information services provider reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.09. VeriSign had a negative return on equity of 45.68% and a net margin of 49.38%. The company had revenue of $376.30 million for the quarter, compared to analysts’ expectations of $378.31 million. During the same quarter in the prior year, the company earned $1.58 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. As a group, analysts forecast that VeriSign, Inc. will post 7.02 EPS for the current year.

Analyst Upgrades and Downgrades

VRSN has been the subject of a number of research analyst reports. Robert W. Baird downgraded VeriSign from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $265.00 to $245.00 in a report on Tuesday, July 11th. Citigroup decreased their price target on VeriSign from $252.00 to $249.00 and set a “buy” rating for the company in a research note on Monday, July 24th. Finally, StockNews.com downgraded VeriSign from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th.

View Our Latest Stock Analysis on VRSN

Hedge Funds Weigh In On VeriSign

Several institutional investors and hedge funds have recently modified their holdings of VRSN. Resurgent Financial Advisors LLC acquired a new position in shares of VeriSign during the fourth quarter valued at about $25,000. IFP Advisors Inc lifted its holdings in VeriSign by 88.8% in the first quarter. IFP Advisors Inc now owns 708 shares of the information services provider’s stock valued at $28,000 after buying an additional 333 shares during the period. West Tower Group LLC acquired a new position in VeriSign in the second quarter valued at approximately $30,000. Eagle Bay Advisors LLC raised its holdings in VeriSign by 2,628.6% in the second quarter. Eagle Bay Advisors LLC now owns 191 shares of the information services provider’s stock worth $32,000 after purchasing an additional 184 shares during the period. Finally, Altshuler Shaham Ltd acquired a new stake in VeriSign in the fourth quarter worth $36,000. 90.95% of the stock is currently owned by hedge funds and other institutional investors.

VeriSign Company Profile

(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 the 13 internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.