Investors Purchase Large Volume of Call Options on Verisign (NASDAQ:VRSN)

Verisign, Inc. (NASDAQ:VRSN) was the recipient of unusually large options trading on Tuesday. Stock traders acquired 1,308 call options on the company. This is an increase of approximately 821% compared to the typical volume of 142 call options.

A number of research firms have recently weighed in on VRSN. Robert W. Baird upped their price objective on Verisign from $210.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Zacks Investment Research raised Verisign from a “hold” rating to a “buy” rating and set a $224.00 price objective for the company in a research note on Tuesday, April 30th. Finally, ValuEngine lowered Verisign from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Verisign presently has an average rating of “Buy” and a consensus target price of $204.75.

Shares of NASDAQ VRSN traded down $3.90 during mid-day trading on Wednesday, reaching $205.06. The company’s stock had a trading volume of 1,464 shares, compared to its average volume of 604,849. The company has a market cap of $24.74 billion, a price-to-earnings ratio of 43.30 and a beta of 1.06. The firm’s fifty day simple moving average is $213.04. Verisign has a 52 week low of $131.28 and a 52 week high of $221.78.

Verisign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, July 25th. The information services provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.06. The firm had revenue of $306.29 million during the quarter, compared to analyst estimates of $306.57 million. Verisign had a negative return on equity of 43.63% and a net margin of 51.38%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.18 earnings per share. As a group, research analysts anticipate that Verisign will post 4.98 EPS for the current fiscal year.

In other news, Director Timothy Tomlinson sold 575 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $213.50, for a total value of $122,762.50. Following the completion of the transaction, the director now owns 34,251 shares of the company’s stock, valued at $7,312,588.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Liberty Wealth Management LLC purchased a new stake in Verisign during the second quarter valued at approximately $25,000. Cornerstone Advisors Inc. raised its position in Verisign by 208.2% during the first quarter. Cornerstone Advisors Inc. now owns 151 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 102 shares during the period. D Orazio & Associates Inc. raised its position in Verisign by 82.4% during the first quarter. D Orazio & Associates Inc. now owns 155 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 70 shares during the period. AGF Investments LLC raised its position in Verisign by 102.9% during the second quarter. AGF Investments LLC now owns 138 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 70 shares during the period. Finally, Capital Investment Advisory Services LLC purchased a new stake in Verisign during the second quarter valued at approximately $29,000. 91.96% of the stock is owned by institutional investors.

Verisign Company Profile

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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