3,384 Shares in VeriSign, Inc. $VRSN Acquired by Callan Family Office LLC

Key Points

• Callan Family Office LLC has acquired 3,384 shares of VeriSign, Inc., valued at approximately $977,000, in the 2nd quarter.
• CEO D James Bidzos sold 5,000 shares for about $1.34 million, decreasing his position by 0.99% and retaining 498,304 shares after the transaction.
• VeriSign has announced a share buyback program of $1.11 billion, which allows the company to repurchase up to 4.1% of its outstanding shares.

Callan Family Office LLC purchased a new position in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,384 shares of the information services provider's stock, valued at approximately $977,000.

Several other hedge funds have also added to or reduced their stakes in VRSN. Livelsberger Financial Advisory acquired a new stake in VeriSign during the 2nd quarter worth approximately $27,000. Bruce G. Allen Investments LLC lifted its holdings in VeriSign by 56.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider's stock worth $28,000 after purchasing an additional 35 shares during the last quarter. Rakuten Securities Inc. lifted its holdings in VeriSign by 13,000.0% during the 1st quarter. Rakuten Securities Inc. now owns 131 shares of the information services provider's stock worth $33,000 after purchasing an additional 130 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in VeriSign in the 1st quarter valued at $34,000. Finally, Ameritas Advisory Services LLC acquired a new position in VeriSign in the 2nd quarter valued at $34,000. 92.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO D James Bidzos sold 5,000 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $268.43, for a total value of $1,342,150.00. Following the transaction, the chief executive officer directly owned 498,304 shares of the company's stock, valued at $133,759,742.72. The trade was a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 38,205 shares of company stock valued at $10,577,083. 0.84% of the stock is owned by insiders.

VeriSign Price Performance

Shares of NASDAQ:VRSN opened at $260.82 on Monday. The company has a market capitalization of $24.36 billion, a price-to-earnings ratio of 31.12 and a beta of 0.79. The business's 50-day moving average is $275.45 and its 200-day moving average is $273.96. VeriSign, Inc. has a 1 year low of $175.62 and a 1 year high of $310.60.

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

VeriSign declared that its board has authorized a share repurchase program on Thursday, July 24th that permits the company to buyback $1.11 billion in outstanding shares. This buyback authorization permits the information services provider to repurchase up to 4.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its shares are undervalued.

VeriSign Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Tuesday, August 19th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, August 19th. VeriSign's payout ratio is currently 36.75%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on VRSN. Robert W. Baird lifted their price objective on VeriSign from $285.00 to $305.00 and gave the company an "outperform" rating in a report on Tuesday, July 1st. Weiss Ratings restated a "buy (b-)" rating on shares of VeriSign in a research report on Wednesday, October 8th. Finally, Citigroup restated a "buy" rating on shares of VeriSign in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. According to data from MarketBeat.com, VeriSign has an average rating of "Buy" and a consensus price target of $277.50.

VeriSign 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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