Insider Selling: Verisign, Inc. (NASDAQ:VRSN) Director Sells 575 Shares of Stock

Verisign, Inc. (NASDAQ:VRSN) Director Timothy Tomlinson sold 575 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $213.50, for a total transaction of $122,762.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NASDAQ:VRSN traded down $2.84 during trading hours on Wednesday, hitting $211.09. The stock had a trading volume of 641,569 shares, compared to its average volume of 605,472. The business’s 50 day moving average price is $212.78. Verisign, Inc. has a one year low of $131.28 and a one year high of $221.78. The stock has a market cap of $25.40 billion, a price-to-earnings ratio of 44.40 and a beta of 1.03.

Verisign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, July 25th. The information services provider reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.06. Verisign had a net margin of 51.38% and a negative return on equity of 43.63%. The firm had revenue of $306.29 million during the quarter, compared to the consensus estimate of $306.57 million. During the same period last year, the firm earned $1.18 EPS. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, analysts anticipate that Verisign, Inc. will post 4.98 EPS for the current fiscal year.

Several research analysts recently commented on the stock. Zacks Investment Research raised shares of Verisign from a “hold” rating to a “buy” rating and set a $224.00 price objective for the company in a report on Tuesday, April 30th. Robert W. Baird raised their price objective on shares of Verisign from $210.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $204.75.

A number of large investors have recently made changes to their positions in the business. Close Asset Management Ltd raised its position in shares of Verisign by 14,555.3% during the 1st quarter. Close Asset Management Ltd now owns 16,707 shares of the information services provider’s stock valued at $3,034,000 after buying an additional 16,593 shares in the last quarter. TD Asset Management Inc. raised its position in shares of Verisign by 0.8% during the 1st quarter. TD Asset Management Inc. now owns 76,511 shares of the information services provider’s stock valued at $13,891,000 after buying an additional 637 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Verisign by 0.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 144,400 shares of the information services provider’s stock valued at $26,217,000 after buying an additional 590 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Verisign by 94.4% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 37,709 shares of the information services provider’s stock valued at $6,846,000 after buying an additional 18,311 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Verisign by 38.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 5,222 shares of the information services provider’s stock valued at $948,000 after buying an additional 1,445 shares in the last quarter. 91.55% of the stock is owned by hedge funds and other institutional investors.

About Verisign

VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.

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