D James Bidzos Sells 5,000 Shares of VeriSign (NASDAQ:VRSN) Stock

Key Points

• D James Bidzos, CEO of VeriSign, sold 5,000 shares of the company's stock on October 14th for a total of $1,327,850, reducing his ownership by 1.05% to approximately 471,439 shares valued at over $125 million.
• VeriSign's recent stock price has dropped with shares trading at $259.79, marking a decline from earlier prices, with analysts providing a buy rating and an average target price of $277.50.
• The company has announced a $1.11 billion stock buyback plan, indicating management's confidence in the stock's undervaluation, alongside recent quarterly earnings showing a 5.9% revenue increase year-over-year.

VeriSign, Inc. (NASDAQ:VRSN - Get Free Report) CEO D James Bidzos sold 5,000 shares of the firm's stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $265.57, for a total value of $1,327,850.00. Following the sale, the chief executive officer directly owned 471,439 shares in the company, valued at $125,200,055.23. This trade represents a 1.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

D James Bidzos also recently made the following trade(s):

• On Wednesday, October 15th, D James Bidzos sold 2,000 shares of VeriSign stock. The stock was sold at an average price of $264.06, for a total transaction of $528,120.00.
• On Wednesday, September 17th, D James Bidzos sold 2,000 shares of VeriSign stock. The stock was sold at an average price of $288.48, for a total transaction of $576,960.00.
• On Tuesday, September 16th, D James Bidzos sold 5,000 shares of VeriSign stock. The shares were sold at an average price of $287.34, for a total transaction of $1,436,700.00.
• On Wednesday, September 10th, D James Bidzos sold 2,000 shares of VeriSign stock. The shares were sold at an average price of $283.87, for a total transaction of $567,740.00.
• On Tuesday, September 9th, D James Bidzos sold 5,000 shares of VeriSign stock. The shares were sold at an average price of $283.24, for a total transaction of $1,416,200.00.
• On Wednesday, August 20th, D James Bidzos sold 2,000 shares of VeriSign stock. The stock was sold at an average price of $270.71, for a total value of $541,420.00.
• On Tuesday, August 19th, D James Bidzos sold 5,000 shares of VeriSign stock. The shares were sold at an average price of $268.43, for a total value of $1,342,150.00.
• On Wednesday, August 13th, D James Bidzos sold 2,000 shares of VeriSign stock. The stock was sold at an average price of $266.45, for a total value of $532,900.00.
• On Tuesday, August 12th, D James Bidzos sold 5,000 shares of VeriSign stock. The stock was sold at an average price of $264.15, for a total value of $1,320,750.00.

VeriSign Price Performance

Shares of VRSN traded down $5.95 during mid-day trading on Thursday, reaching $259.79. 712,704 shares of the company's stock were exchanged, compared to its average volume of 843,917. The stock has a market capitalization of $24.27 billion, a PE ratio of 31.00 and a beta of 0.79. The business's fifty day simple moving average is $274.86 and its 200-day simple moving average is $273.97. VeriSign, Inc. has a 52-week low of $175.62 and a 52-week high of $310.60.

VeriSign (NASDAQ:VRSN - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The information services provider reported $2.21 EPS for the quarter, beating the consensus estimate of $2.20 by $0.01. The firm had revenue of $409.90 million during the quarter, compared to the consensus estimate of $410.35 million. VeriSign had a net margin of 50.05% and a negative return on equity of 40.87%. VeriSign's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.01 EPS. VeriSign has set its FY 2025 guidance at EPS.

VeriSign Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Tuesday, August 19th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.2%. VeriSign's dividend payout ratio (DPR) is currently 36.75%.

VeriSign declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 24th that authorizes the company to repurchase $1.11 billion in outstanding shares. This repurchase authorization authorizes the information services provider to buy up to 4.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

VRSN has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of VeriSign in a research report on Wednesday, October 8th. Citigroup restated a "buy" rating on shares of VeriSign in a research note on Tuesday, July 8th. Finally, Robert W. Baird lifted their price objective on shares of VeriSign from $285.00 to $305.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $277.50.

Institutional Trading of VeriSign

A number of institutional investors have recently modified their holdings of VRSN. Farther Finance Advisors LLC lifted its holdings in VeriSign by 6.7% in the first quarter. Farther Finance Advisors LLC now owns 1,017 shares of the information services provider's stock valued at $259,000 after acquiring an additional 64 shares during the period. GAMMA Investing LLC grew its stake in shares of VeriSign by 35.6% during the 1st quarter. GAMMA Investing LLC now owns 2,746 shares of the information services provider's stock worth $697,000 after purchasing an additional 721 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of VeriSign by 358.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 70,017 shares of the information services provider's stock valued at $17,775,000 after purchasing an additional 54,759 shares in the last quarter. Brighton Jones LLC acquired a new stake in shares of VeriSign in the first quarter valued at about $250,000. Finally, Janney Montgomery Scott LLC purchased a new stake in VeriSign during the first quarter worth about $1,003,000. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

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.

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