Insider Selling: VeriSign, Inc. (NASDAQ:VRSN) EVP Sells 501 Shares of Stock

VeriSign, Inc. (NASDAQ:VRSN - Get Free Report) EVP Thomas C. Indelicarto sold 501 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $290.17, for a total value of $145,375.17. Following the sale, the executive vice president directly owned 38,270 shares in the company, valued at $11,104,805.90. This trade represents a 1.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

VeriSign Trading Down 2.4%

Shares of VeriSign stock traded down $7.06 during mid-day trading on Wednesday, hitting $282.02. 956,674 shares of the stock were exchanged, compared to its average volume of 753,438. The stock has a market capitalization of $26.48 billion, a price-to-earnings ratio of 34.48 and a beta of 0.78. VeriSign, Inc. has a twelve month low of $172.49 and a twelve month high of $290.38. The company has a 50-day simple moving average of $279.10 and a 200 day simple moving average of $244.85.

VeriSign (NASDAQ:VRSN - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.10 EPS for the quarter, hitting analysts' consensus estimates of $2.10. VeriSign had a negative return on equity of 41.37% and a net margin of 50.23%. The business had revenue of $402.30 million during the quarter, compared to the consensus estimate of $400.44 million. During the same period in the prior year, the firm posted $1.92 EPS. The business's revenue for the quarter was up 4.7% on a year-over-year basis.

VeriSign Dividend Announcement

The company also recently announced a -- dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, May 19th. VeriSign's payout ratio is currently 37.65%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Robert W. Baird increased their price objective on VeriSign from $285.00 to $305.00 and gave the company an "outperform" rating in a report on Tuesday. Wall Street Zen upgraded shares of VeriSign from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Rakuten Securities Inc. increased its position in shares of VeriSign by 13,000.0% in the first quarter. Rakuten Securities Inc. now owns 131 shares of the information services provider's stock worth $33,000 after acquiring an additional 130 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in VeriSign in the first quarter valued at about $34,000. UMB Bank n.a. raised its position in VeriSign by 106.5% in the first quarter. UMB Bank n.a. now owns 159 shares of the information services provider's stock valued at $40,000 after purchasing an additional 82 shares during the period. WPG Advisers LLC acquired a new position in shares of VeriSign during the first quarter worth about $42,000. Finally, Cromwell Holdings LLC boosted its position in shares of VeriSign by 32.3% in the first quarter. Cromwell Holdings LLC now owns 172 shares of the information services provider's stock worth $44,000 after buying an additional 42 shares during the period. Hedge funds and other institutional investors own 92.90% of the company's stock.

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.

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