VeriSign, Inc. (NASDAQ:VRSN) EVP Sells $116,660.00 in Stock

VeriSign, Inc. (NASDAQ:VRSN) EVP Thomas C. Indelicarto sold 614 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $190.00, for a total transaction of $116,660.00. Following the transaction, the executive vice president now directly owns 41,955 shares in the company, valued at approximately $7,971,450. The transaction was disclosed in a filing with the SEC, which is available through this link.

VeriSign Trading Down 2.3 %

Shares of VRSN stock traded down $4.35 during trading hours on Friday, hitting $185.43. 470,888 shares of the company were exchanged, compared to its average volume of 573,521. VeriSign, Inc. has a 52-week low of $185.19 and a 52-week high of $229.72. The stock has a market capitalization of $18.71 billion, a price-to-earnings ratio of 23.96 and a beta of 0.88. The firm has a fifty day simple moving average of $192.50 and a 200 day simple moving average of $201.57.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, February 8th. The information services provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.09. VeriSign had a net margin of 54.74% and a negative return on equity of 46.56%. The business had revenue of $380.40 million during the quarter, compared to analyst estimates of $381.01 million. Sell-side analysts anticipate that VeriSign, Inc. will post 7.82 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Crestmont Private Wealth LLC grew its stake in VeriSign by 65.2% in the 1st quarter. Crestmont Private Wealth LLC now owns 1,675 shares of the information services provider’s stock valued at $317,000 after buying an additional 661 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in VeriSign by 205.1% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,754 shares of the information services provider’s stock valued at $1,280,000 after buying an additional 4,540 shares in the last quarter. Perpetual Ltd purchased a new position in VeriSign in the 1st quarter valued at approximately $553,000. Alaska Permanent Fund Corp grew its stake in VeriSign by 2.2% in the 1st quarter. Alaska Permanent Fund Corp now owns 37,106 shares of the information services provider’s stock valued at $7,032,000 after buying an additional 781 shares in the last quarter. Finally, First Hawaiian Bank bought a new position in VeriSign in the 1st quarter valued at $212,000. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on VRSN shares. StockNews.com cut shares of VeriSign from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Citigroup decreased their price target on shares of VeriSign from $237.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd.

VeriSign Company Profile

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.