VeriSign, Inc. (NASDAQ:VRSN - Get Free Report)'s share price hit a new 52-week high during trading on Monday after Citigroup raised their price target on the stock from $210.00 to $238.00. Citigroup currently has a buy rating on the stock. VeriSign traded as high as $211.30 and last traded at $210.89, with a volume of 183902 shares changing hands. The stock had previously closed at $205.62.
Other analysts have also recently issued reports about the company. Baird R W upgraded VeriSign from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 9th. Robert W. Baird upgraded VeriSign from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $200.00 to $250.00 in a research note on Monday, December 9th. Finally, StockNews.com downgraded shares of VeriSign from a "buy" rating to a "hold" rating in a research note on Monday, December 30th.
Check Out Our Latest Stock Analysis on VeriSign
Insider Buying and Selling at VeriSign
In other VeriSign news, EVP Thomas C. Indelicarto sold 1,228 shares of the business's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $190.00, for a total transaction of $233,320.00. Following the sale, the executive vice president now directly owns 33,593 shares of the company's stock, valued at $6,382,670. The trade was a 3.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Danny R. Mcpherson sold 2,092 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $192.43, for a total transaction of $402,563.56. Following the completion of the transaction, the executive vice president now owns 26,157 shares in the company, valued at approximately $5,033,391.51. This represents a 7.41 % decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by insiders.
Institutional Trading of VeriSign
Institutional investors and hedge funds have recently modified their holdings of the company. Concord Wealth Partners raised its holdings in VeriSign by 93.2% in the 3rd quarter. Concord Wealth Partners now owns 226 shares of the information services provider's stock valued at $43,000 after acquiring an additional 109 shares in the last quarter. Tobam increased its position in VeriSign by 61.1% in the third quarter. Tobam now owns 311 shares of the information services provider's stock worth $59,000 after purchasing an additional 118 shares during the period. Blue Trust Inc. boosted its stake in VeriSign by 138.6% in the third quarter. Blue Trust Inc. now owns 420 shares of the information services provider's stock valued at $75,000 after acquiring an additional 244 shares during the last quarter. Sentry Investment Management LLC acquired a new stake in shares of VeriSign during the second quarter worth $76,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of VeriSign in the 3rd quarter valued at approximately $76,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.
VeriSign Trading Up 2.5 %
The company has a market cap of $20.25 billion, a price-to-earnings ratio of 24.50 and a beta of 0.89. The firm's fifty day moving average price is $190.44 and its 200-day moving average price is $184.66.
VeriSign (NASDAQ:VRSN - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The information services provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.06. VeriSign had a negative return on equity of 45.59% and a net margin of 55.74%. The company had revenue of $390.60 million during the quarter, compared to analysts' expectations of $390.19 million. During the same quarter last year, the company earned $1.83 EPS. VeriSign's revenue for the quarter was up 3.8% compared to the same quarter last year.
About VeriSign
(
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 thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.
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