VeriSign (NASDAQ:VRSN) Sets New 12-Month Low at $181.01

VeriSign, Inc. (NASDAQ:VRSN) hit a new 52-week low during trading on Wednesday . The company traded as low as $181.01 and last traded at $183.59, with a volume of 117961 shares trading hands. The stock had previously closed at $185.12.

Analyst Ratings Changes

VRSN has been the topic of a number of research reports. Citigroup lowered their price objective on VeriSign from $237.00 to $236.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. StockNews.com cut VeriSign from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd.

VeriSign Stock Performance

The stock has a market cap of $18.51 billion, a PE ratio of 23.37 and a beta of 0.88. The company’s 50-day moving average price is $190.16 and its two-hundred day moving average price is $200.48.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, February 8th. The information services provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.09. The business had revenue of $380.40 million during the quarter, compared to the consensus estimate of $381.01 million. VeriSign had a net margin of 54.74% and a negative return on equity of 46.56%. Equities research analysts forecast that VeriSign, Inc. will post 7.82 earnings per share for the current fiscal year.

Insider Buying and Selling at VeriSign

In other VeriSign news, EVP Thomas C. Indelicarto sold 613 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $195.33, for a total transaction of $119,737.29. Following the completion of the sale, the executive vice president now owns 43,143 shares of the company’s stock, valued at approximately $8,427,122.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Thomas C. Indelicarto sold 613 shares of VeriSign stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $195.33, for a total value of $119,737.29. Following the sale, the executive vice president now owns 43,143 shares in the company, valued at $8,427,122.19. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Todd B. Strubbe sold 9,423 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $193.21, for a total transaction of $1,820,617.83. Following the completion of the transaction, the chief operating officer now owns 111,551 shares of the company’s stock, valued at $21,552,768.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,877 shares of company stock worth $2,878,864. 0.94% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC increased its stake in shares of VeriSign by 52.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 152 shares of the information services provider’s stock worth $31,000 after acquiring an additional 52 shares in the last quarter. Modera Wealth Management LLC increased its stake in shares of VeriSign by 3.6% during the third quarter. Modera Wealth Management LLC now owns 1,721 shares of the information services provider’s stock valued at $349,000 after purchasing an additional 60 shares in the last quarter. CWM LLC lifted its holdings in shares of VeriSign by 2.1% during the fourth quarter. CWM LLC now owns 2,960 shares of the information services provider’s stock valued at $610,000 after purchasing an additional 60 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of VeriSign by 0.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,571 shares of the information services provider’s stock worth $1,736,000 after purchasing an additional 65 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. grew its stake in shares of VeriSign by 1.1% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 6,129 shares of the information services provider’s stock worth $1,262,000 after buying an additional 68 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.

About VeriSign

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.