StockNews.com Downgrades VeriSign (NASDAQ:VRSN) to Hold

VeriSign (NASDAQ:VRSNGet Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Other research analysts also recently issued reports about the stock. Citigroup dropped their target price on shares of VeriSign from $237.00 to $236.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Robert W. Baird dropped their price objective on VeriSign from $215.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, April 26th.

View Our Latest Analysis on VRSN

VeriSign Stock Down 0.3 %

VeriSign stock traded down $0.48 during trading on Wednesday, reaching $169.25. The stock had a trading volume of 994,925 shares, compared to its average volume of 645,692. VeriSign has a 52-week low of $167.04 and a 52-week high of $229.72. The business has a 50 day moving average price of $183.61 and a 200 day moving average price of $196.73. The stock has a market cap of $16.86 billion, a PE ratio of 20.79 and a beta of 0.89.

VeriSign (NASDAQ:VRSNGet Free Report) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.06. VeriSign had a negative return on equity of 47.21% and a net margin of 55.04%. The firm had revenue of $384.30 million during the quarter, compared to analysts’ expectations of $381.85 million. During the same quarter in the previous year, the business earned $1.70 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year.

Insider Transactions at VeriSign

In related news, Director Yehuda Ari Buchalter sold 866 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $170.01, for a total value of $147,228.66. Following the completion of the sale, the director now owns 3,661 shares in the company, valued at approximately $622,406.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Yehuda Ari Buchalter sold 866 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $170.01, for a total value of $147,228.66. Following the transaction, the director now owns 3,661 shares in the company, valued at approximately $622,406.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Todd B. Strubbe sold 9,423 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $193.21, for a total value of $1,820,617.83. Following the sale, the chief operating officer now directly 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 ninety days, insiders have sold 14,393 shares of company stock worth $2,759,633. Insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On VeriSign

Several institutional investors have recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC lifted its holdings 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 valued at $31,000 after buying an additional 52 shares during the period. Baldwin Brothers LLC MA lifted its holdings in VeriSign by 158.6% in the fourth quarter. Baldwin Brothers LLC MA now owns 181 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 111 shares during the period. Larson Financial Group LLC boosted its position in shares of VeriSign by 251.5% during the 3rd quarter. Larson Financial Group LLC now owns 355 shares of the information services provider’s stock worth $72,000 after purchasing an additional 254 shares in the last quarter. Quarry LP acquired a new position in shares of VeriSign during the 4th quarter worth $76,000. Finally, Neo Ivy Capital Management acquired a new position in shares of VeriSign during the 4th quarter worth $77,000. 92.90% of the stock is owned by institutional investors and hedge funds.

VeriSign Company Profile

(Get Free Report)

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.

Read More

Receive News & Ratings for VeriSign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VeriSign and related companies with MarketBeat.com's FREE daily email newsletter.