Insider Selling: VeriSign, Inc. (NASDAQ:VRSN) EVP Sells 613 Shares of Stock

VeriSign, Inc. (NASDAQ:VRSN) EVP Thomas C. Indelicarto sold 613 shares of the business’s stock in a transaction that occurred on Wednesday, June 9th. The shares were sold at an average price of $219.63, for a total value of $134,633.19. Following the completion of the transaction, the executive vice president now directly owns 56,712 shares in the company, valued at approximately $12,455,656.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

VRSN traded up $3.16 during trading on Thursday, reaching $220.97. 550,173 shares of the stock were exchanged, compared to its average volume of 606,155. The stock’s 50 day moving average price is $215.38. The firm has a market capitalization of $24.89 billion, a P/E ratio of 39.86 and a beta of 0.81. VeriSign, Inc. has a 1 year low of $184.60 and a 1 year high of $226.18.

VeriSign (NASDAQ:VRSN) last posted its earnings results on Thursday, April 22nd. The information services provider reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.04. The company had revenue of $323.62 million for the quarter, compared to the consensus estimate of $322.82 million. VeriSign had a negative return on equity of 45.21% and a net margin of 49.42%. VeriSign’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 earnings per share. On average, equities analysts anticipate that VeriSign, Inc. will post 5.35 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. ADE LLC purchased a new stake in VeriSign during the fourth quarter worth $31,000. Neo Ivy Capital Management purchased a new stake in VeriSign during the fourth quarter worth $33,000. Founders Financial Alliance LLC purchased a new stake in VeriSign during the first quarter worth $36,000. Alpha Paradigm Partners LLC purchased a new stake in VeriSign during the first quarter worth $40,000. Finally, Prentice Wealth Management LLC purchased a new stake in VeriSign during the first quarter worth $42,000. Institutional investors own 89.46% of the company’s stock.

A number of research analysts have recently issued reports on VRSN shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on VeriSign from $235.00 to $245.00 in a report on Friday, April 23rd. Citigroup boosted their target price on VeriSign from $235.00 to $245.00 in a report on Friday, April 23rd. Finally, Zacks Investment Research downgraded VeriSign from a “hold” rating to a “sell” rating and set a $213.00 price target on the stock. in a research note on Monday, February 15th.

VeriSign Company 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. It 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 support global e-commerce.

Further Reading: Holder of Record

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

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