VeriSign, Inc. (NASDAQ:VRSN) SVP Sells $103,592.25 in Stock

VeriSign, Inc. (NASDAQ:VRSN) SVP John Calys sold 447 shares of VeriSign stock in a transaction on Monday, February 24th. The shares were sold at an average price of $231.75, for a total value of $103,592.25. Following the transaction, the senior vice president now directly owns 23,735 shares of the company’s stock, valued at approximately $5,500,586.25. The trade was a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

VeriSign Stock Performance

VRSN traded up $5.09 during midday trading on Tuesday, hitting $238.24. The company had a trading volume of 1,331,631 shares, compared to its average volume of 786,800. VeriSign, Inc. has a twelve month low of $167.04 and a twelve month high of $239.05. The company has a market capitalization of $22.54 billion, a PE ratio of 29.78 and a beta of 0.90. The firm’s 50-day simple moving average is $213.09 and its 200-day simple moving average is $194.51.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings results on Thursday, February 6th. The information services provider reported $2.00 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.00. VeriSign had a net margin of 50.47% and a negative return on equity of 43.01%.

Institutional Investors Weigh In On VeriSign

Institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in VeriSign by 138.6% during the 3rd quarter. Blue Trust Inc. now owns 420 shares of the information services provider’s stock worth $75,000 after purchasing an additional 244 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of VeriSign by 29.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,912 shares of the information services provider’s stock worth $363,000 after buying an additional 440 shares during the period. Private Advisor Group LLC bought a new stake in shares of VeriSign during the third quarter worth approximately $227,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of VeriSign by 72.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,100 shares of the information services provider’s stock worth $2,307,000 after buying an additional 5,077 shares during the last quarter. Finally, Forsta AP Fonden lifted its holdings in VeriSign by 4.9% in the third quarter. Forsta AP Fonden now owns 38,400 shares of the information services provider’s stock valued at $7,294,000 after buying an additional 1,800 shares during the period. Institutional investors own 92.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VRSN. Citigroup increased their target price on shares of VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. StockNews.com raised shares of VeriSign from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Robert W. Baird raised VeriSign from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $200.00 to $250.00 in a report on Monday, December 9th. Finally, Baird R W raised VeriSign from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th.

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.