VeriSign (NASDAQ:VRSN - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Monday.
A number of other research firms have also commented on VRSN. Baird R W raised VeriSign from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 9th. Robert W. Baird raised shares of VeriSign from a "neutral" rating to an "outperform" rating and upped their price target for the company from $200.00 to $250.00 in a research report on Monday, December 9th.
Get Our Latest Stock Report on VRSN
VeriSign Stock Performance
Shares of VeriSign stock traded up $1.15 during midday trading on Monday, hitting $205.10. 905,072 shares of the company traded hands, compared to its average volume of 661,216. The firm's fifty day moving average price is $188.72 and its 200-day moving average price is $183.89. The stock has a market cap of $19.71 billion, a price-to-earnings ratio of 23.85 and a beta of 0.92. VeriSign has a 12 month low of $167.04 and a 12 month high of $208.04.
VeriSign (NASDAQ:VRSN - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The information services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.06. The firm had revenue of $390.60 million during the quarter, compared to the consensus estimate of $390.19 million. VeriSign had a net margin of 55.74% and a negative return on equity of 45.59%. The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.83 earnings per share.
Insider Buying and Selling
In other news, EVP Danny R. Mcpherson sold 2,092 shares of VeriSign stock in a transaction dated 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 directly owns 26,157 shares in the company, valued at $5,033,391.51. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas C. Indelicarto sold 1,228 shares of the company's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $190.00, for a total transaction of $233,320.00. Following the completion of the sale, the executive vice president now owns 33,593 shares in the company, valued at $6,382,670. This represents a 3.53 % decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is owned by insiders.
Institutional Trading of VeriSign
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rothschild Investment LLC bought a new stake in VeriSign during the second quarter worth $38,000. Concord Wealth Partners increased its stake 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 buying an additional 109 shares during the last quarter. Tobam boosted its stake in shares of VeriSign by 61.1% in the 3rd quarter. Tobam now owns 311 shares of the information services provider's stock worth $59,000 after buying an additional 118 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of VeriSign by 138.6% in the 3rd quarter. Blue Trust Inc. now owns 420 shares of the information services provider's stock worth $75,000 after buying an additional 244 shares during the last quarter. Finally, Sentry Investment Management LLC bought a new position in shares of VeriSign in the second quarter valued at approximately $76,000. 92.90% of the stock is owned by institutional investors.
VeriSign Company Profile
(
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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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