VeriSign, Inc. (NASDAQ:VRSN) EVP Thomas C. Indelicarto Sells 2,456 Shares

VeriSign, Inc. (NASDAQ:VRSN) EVP Thomas C. Indelicarto sold 2,456 shares of VeriSign stock in a transaction on Friday, September 27th. The shares were sold at an average price of $190.00, for a total transaction of $466,640.00. Following the completion of the sale, the executive vice president now directly owns 34,821 shares of the company’s stock, valued at approximately $6,615,990. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

VeriSign Stock Down 1.5 %

Shares of VRSN opened at $187.14 on Wednesday. The business’s 50-day moving average price is $181.75 and its 200-day moving average price is $179.99. VeriSign, Inc. has a twelve month low of $167.04 and a twelve month high of $220.91. The stock has a market cap of $18.64 billion, a PE ratio of 22.99 and a beta of 0.90.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, July 25th. The information services provider reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.08. VeriSign had a negative return on equity of 46.63% and a net margin of 55.40%. The firm had revenue of $387.10 million for the quarter, compared to analysts’ expectations of $385.80 million. During the same period in the prior year, the business posted $1.79 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of VRSN. Blue Trust Inc. grew its holdings in shares of VeriSign by 291.1% during the second quarter. Blue Trust Inc. now owns 176 shares of the information services provider’s stock worth $33,000 after purchasing an additional 131 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of VeriSign by 117.2% during the second quarter. UMB Bank n.a. now owns 202 shares of the information services provider’s stock worth $36,000 after purchasing an additional 109 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of VeriSign during the second quarter worth about $38,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of VeriSign during the second quarter worth about $39,000. Finally, Versant Capital Management Inc grew its holdings in shares of VeriSign by 55.7% during the second quarter. Versant Capital Management Inc now owns 327 shares of the information services provider’s stock worth $58,000 after purchasing an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VRSN. StockNews.com downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. Robert W. Baird restated a “neutral” rating and issued a $200.00 price objective on shares of VeriSign in a research note on Thursday, June 27th.

About VeriSign

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.