AG2R LA Mondiale Gestion D Actifs Trims Position in VeriSign, Inc. $VRSN

AG2R LA Mondiale Gestion D Actifs reduced its stake in VeriSign, Inc. (NASDAQ:VRSN) by 4.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,859 shares of the information services provider’s stock after selling 173 shares during the period. AG2R LA Mondiale Gestion D Actifs’ holdings in VeriSign were worth $1,114,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of VRSN. Livelsberger Financial Advisory purchased a new stake in VeriSign in the 2nd quarter valued at about $27,000. Bruce G. Allen Investments LLC increased its stake in VeriSign by 56.5% during the second quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider’s stock worth $28,000 after purchasing an additional 35 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in VeriSign during the first quarter worth about $34,000. Ameritas Advisory Services LLC purchased a new stake in VeriSign during the second quarter worth about $34,000. Finally, Bayforest Capital Ltd purchased a new stake in VeriSign during the second quarter worth about $34,000. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO D James Bidzos sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $261.54, for a total transaction of $523,080.00. Following the sale, the chief executive officer directly owned 460,439 shares in the company, valued at approximately $120,423,216.06. This trade represents a 0.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thomas C. Indelicarto sold 501 shares of the firm’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $262.92, for a total value of $131,722.92. Following the sale, the executive vice president owned 34,189 shares of the company’s stock, valued at approximately $8,988,971.88. This trade represents a 1.44% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,706 shares of company stock worth $12,451,906. Corporate insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

VRSN has been the topic of a number of recent research reports. Citigroup reiterated a “buy” rating on shares of VeriSign in a research note on Friday. Weiss Ratings reissued a “buy (b-)” rating on shares of VeriSign in a research report on Friday. Finally, Robert W. Baird set a $325.00 price objective on VeriSign in a research report on Friday. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $287.50.

VeriSign Trading Down 1.4%

VRSN stock opened at $247.08 on Monday. The company has a market capitalization of $22.90 billion, a P/E ratio of 28.80 and a beta of 0.79. VeriSign, Inc. has a twelve month low of $175.62 and a twelve month high of $310.60. The business has a 50 day simple moving average of $273.69 and a 200-day simple moving average of $274.95.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, October 23rd. The information services provider reported $2.27 EPS for the quarter, topping the consensus estimate of $2.25 by $0.02. VeriSign had a negative return on equity of 40.66% and a net margin of 49.86%.The business had revenue of $419.10 million during the quarter, compared to analysts’ expectations of $416.71 million. During the same quarter in the prior year, the business earned $2.07 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. VeriSign has set its FY 2025 guidance at EPS.

VeriSign declared that its board has initiated a share buyback plan on Thursday, July 24th that authorizes the company to buyback $1.11 billion in shares. This buyback authorization authorizes the information services provider to reacquire up to 4.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

VeriSign Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, November 18th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.2%. VeriSign’s dividend payout ratio (DPR) is presently 35.90%.

VeriSign 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.