Robert W. Baird Lowers VeriSign (NASDAQ:VRSN) Price Target to $200.00

VeriSign (NASDAQ:VRSN) had its price target cut by Robert W. Baird from $215.00 to $200.00 in a research note published on Friday, Benzinga reports. They currently have a neutral rating on the information services provider’s stock.

A number of other equities research analysts have also weighed in on VRSN. StockNews.com lowered VeriSign from a buy rating to a hold rating in a research report on Wednesday, April 3rd. Citigroup decreased their target price on VeriSign from $237.00 to $236.00 and set a buy rating for the company in a research report on Tuesday, April 2nd.

VeriSign Stock Down 0.2 %

VRSN opened at $175.11 on Friday. The business has a fifty day moving average of $188.90 and a 200 day moving average of $199.66. VeriSign has a 52-week low of $174.28 and a 52-week high of $229.72. The stock has a market cap of $17.54 billion, a P/E ratio of 21.51 and a beta of 0.88.

VeriSign (NASDAQ:VRSN) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.06. The business had revenue of $384.30 million during the quarter, compared to analyst estimates of $381.85 million. VeriSign had a negative return on equity of 47.21% and a net margin of 55.04%. VeriSign’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.70 EPS.

Insider Transactions at VeriSign

In other news, EVP Thomas C. Indelicarto sold 614 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $190.00, for a total value of $116,660.00. Following the completion of the transaction, the executive vice president now directly owns 41,955 shares of the company’s stock, valued at approximately $7,971,450. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Thomas C. Indelicarto sold 614 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $190.00, for a total value of $116,660.00. Following the completion of the transaction, the executive vice president now directly owns 41,955 shares of the company’s stock, valued at approximately $7,971,450. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Thomas C. Indelicarto sold 613 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $199.05, for a total value of $122,017.65. Following the completion of the transaction, the executive vice president now directly owns 34,816 shares of the company’s stock, valued at $6,930,124.80. The disclosure for this sale can be found here. In the last three months, insiders sold 14,877 shares of company stock valued at $2,878,864. Corporate insiders own 0.94% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VRSN. Cary Street Partners Investment Advisory LLC increased its position in VeriSign by 52.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 152 shares of the information services provider’s stock valued at $31,000 after buying an additional 52 shares in the last quarter. Baldwin Brothers LLC MA increased its position in VeriSign by 158.6% during the 4th quarter. Baldwin Brothers LLC MA now owns 181 shares of the information services provider’s stock valued at $37,000 after buying an additional 111 shares in the last quarter. UMB Bank n.a. increased its position in VeriSign by 91.7% during the 3rd quarter. UMB Bank n.a. now owns 347 shares of the information services provider’s stock valued at $70,000 after buying an additional 166 shares in the last quarter. Larson Financial Group LLC increased its position in VeriSign by 251.5% during the 3rd quarter. Larson Financial Group LLC now owns 355 shares of the information services provider’s stock valued at $72,000 after buying an additional 254 shares in the last quarter. Finally, Quarry LP acquired a new position in VeriSign during the 4th quarter valued at about $76,000. 92.90% of the stock is owned by institutional investors and hedge funds.

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.