VeriSign (NASDAQ:VRSN – Get Rating) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
Separately, Citigroup lifted their price target on VeriSign from $243.00 to $252.00 and gave the company a “buy” rating in a report on Monday, February 13th.
VeriSign Stock Performance
Shares of VRSN stock opened at $215.62 on Thursday. VeriSign has a one year low of $155.25 and a one year high of $224.56. The company’s 50-day moving average is $204.72 and its 200 day moving average is $200.53. The company has a market capitalization of $22.50 billion, a price-to-earnings ratio of 34.50 and a beta of 1.01.
VeriSign (NASDAQ:VRSN – Get Rating) last issued its quarterly earnings data on Thursday, February 9th. The information services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.17. VeriSign had a net margin of 47.30% and a negative return on equity of 46.13%. The firm had revenue of $369.20 million for the quarter, compared to analysts’ expectations of $366.10 million. During the same quarter in the prior year, the business earned $1.48 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, research analysts predict that VeriSign will post 6.74 earnings per share for the current fiscal year.
Insider Transactions at VeriSign
In other VeriSign news, EVP Danny R. Mcpherson sold 125 shares of VeriSign stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $216.60, for a total value of $27,075.00. Following the completion of the transaction, the executive vice president now directly owns 27,286 shares of the company’s stock, valued at approximately $5,910,147.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Danny R. Mcpherson sold 125 shares of the business’s stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $216.60, for a total transaction of $27,075.00. Following the completion of the sale, the executive vice president now owns 27,286 shares in the company, valued at $5,910,147.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas C. Indelicarto sold 614 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $212.78, for a total value of $130,646.92. Following the sale, the executive vice president now owns 37,792 shares of the company’s stock, valued at approximately $8,041,381.76. The disclosure for this sale can be found here. Insiders have sold a total of 36,599 shares of company stock worth $7,544,089 in the last quarter. Company insiders own 0.98% of the company’s stock.
Hedge Funds Weigh In On VeriSign
Large investors have recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC grew its stake in shares of VeriSign by 4.2% in the first quarter. Flagship Harbor Advisors LLC now owns 1,267 shares of the information services provider’s stock valued at $268,000 after buying an additional 51 shares in the last quarter. Pitcairn Co. lifted its holdings in VeriSign by 1.5% during the 4th quarter. Pitcairn Co. now owns 3,750 shares of the information services provider’s stock worth $770,000 after buying an additional 54 shares during the last quarter. Spire Wealth Management lifted its holdings in VeriSign by 13.3% during the 4th quarter. Spire Wealth Management now owns 468 shares of the information services provider’s stock worth $96,000 after buying an additional 55 shares during the last quarter. Gilbert & Cook Inc. lifted its holdings in shares of VeriSign by 3.2% in the 4th quarter. Gilbert & Cook Inc. now owns 1,808 shares of the information services provider’s stock worth $371,000 after purchasing an additional 56 shares during the last quarter. Finally, Veriti Management LLC lifted its holdings in shares of VeriSign by 3.7% in the 3rd quarter. Veriti Management LLC now owns 1,726 shares of the information services provider’s stock worth $300,000 after purchasing an additional 61 shares during the last quarter. 91.21% of the stock is currently owned by hedge funds and other institutional investors.
About VeriSign
VeriSign, Inc provides domain name registry services and Internet infrastructure, which enables Internet navigation for many of the world’s most recognized domain names. It enables the security, stability, and resiliency of key Internet infrastructure and services, including providing root zone maintainer services.