Insider Selling: VeriSign (NASDAQ:VRSN) CEO Sells $978,582.00 in Stock

VeriSign, Inc. (NASDAQ:VRSNGet Free Report) CEO D James Bidzos sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $296.54, for a total value of $978,582.00. Following the completion of the transaction, the chief executive officer owned 409,639 shares of the company’s stock, valued at approximately $121,474,349.06. This represents a 0.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

D James Bidzos also recently made the following trade(s):

  • On Tuesday, July 28th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $281.20, for a total transaction of $927,960.00.
  • On Tuesday, July 21st, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $270.44, for a total value of $892,452.00.
  • On Tuesday, July 7th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $266.09, for a total value of $878,097.00.
  • On Tuesday, June 30th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $250.94, for a total transaction of $828,102.00.
  • On Tuesday, June 23rd, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $248.53, for a total transaction of $820,149.00.
  • On Tuesday, June 16th, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $274.22, for a total value of $904,926.00.
  • On Tuesday, June 9th, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $284.29, for a total value of $938,157.00.
  • On Tuesday, June 2nd, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $297.47, for a total transaction of $981,651.00.

VeriSign Stock Up 0.7%

VRSN opened at $294.56 on Friday. The firm has a market cap of $26.60 billion, a price-to-earnings ratio of 31.95 and a beta of 0.70. VeriSign, Inc. has a fifty-two week low of $208.86 and a fifty-two week high of $312.48. The company’s 50-day moving average price is $274.16 and its 200 day moving average price is $262.29.

VeriSign (NASDAQ:VRSNGet Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The information services provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.02. VeriSign had a negative return on equity of 39.20% and a net margin of 49.76%.The firm had revenue of $434.60 million during the quarter, compared to the consensus estimate of $433.19 million. During the same period in the prior year, the business earned $2.21 EPS. The firm’s revenue was up 6.0% on a year-over-year basis. Research analysts anticipate that VeriSign, Inc. will post 9.56 earnings per share for the current year.

VeriSign Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.81 per share. The ex-dividend date is Wednesday, August 19th. This represents a $3.24 annualized dividend and a dividend yield of 1.1%. VeriSign’s payout ratio is currently 35.14%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Zacks Research raised shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Robert W. Baird lifted their price target on VeriSign from $305.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Wedbush boosted their target price on shares of VeriSign from $318.00 to $324.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of VeriSign in a report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. increased their price objective on VeriSign from $308.00 to $316.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, VeriSign has an average rating of “Buy” and an average target price of $328.75.

Check Out Our Latest Analysis on VRSN

Institutional Investors Weigh In On VeriSign

Several hedge funds have recently modified their holdings of VRSN. KLP Kapitalforvaltning AS lifted its position in shares of VeriSign by 17.7% during the 4th quarter. KLP Kapitalforvaltning AS now owns 146,100 shares of the information services provider’s stock worth $35,495,000 after buying an additional 22,020 shares during the period. Danske Bank A S grew its holdings in VeriSign by 23.5% during the 4th quarter. Danske Bank A S now owns 64,246 shares of the information services provider’s stock worth $15,609,000 after acquiring an additional 12,220 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of VeriSign by 29.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 49,688 shares of the information services provider’s stock valued at $12,179,000 after purchasing an additional 11,249 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in VeriSign by 2.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 174,140 shares of the information services provider’s stock valued at $41,886,000 after buying an additional 3,691 shares during the last quarter. Finally, Kepler Cheuvreux Suisse SA bought a new position in VeriSign in the fourth quarter valued at about $13,636,000. 92.90% of the stock is owned by institutional investors.

VeriSign Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for VeriSign (NASDAQ:VRSN)

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