VeriSign (NASDAQ:VRSN) Hits New 1-Year Low at $181.01

Shares of VeriSign, Inc. (NASDAQ:VRSN - Get Free Report) hit a new 52-week low during trading on Wednesday . The stock traded as low as $181.01 and last traded at $183.59, with a volume of 117961 shares. The stock had previously closed at $185.12.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of VeriSign from a "buy" rating to a "hold" rating in a research report on Wednesday, April 3rd. Citigroup cut their price target on VeriSign from $237.00 to $236.00 and set a "buy" rating on the stock in a report on Tuesday, April 2nd.

VeriSign Trading Up 0.2 %

The firm's 50 day simple moving average is $190.16 and its 200-day simple moving average is $200.48. The stock has a market capitalization of $18.58 billion, a price-to-earnings ratio of 23.37 and a beta of 0.88.

VeriSign (NASDAQ:VRSN - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $380.40 million during the quarter, compared to the consensus estimate of $381.01 million. VeriSign had a negative return on equity of 46.56% and a net margin of 54.74%. As a group, equities research analysts predict that VeriSign, Inc. will post 7.82 earnings per share for the current year.

Insider Activity

In related news, EVP Thomas C. Indelicarto sold 613 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $199.05, for a total value of $122,017.65. Following the sale, the executive vice president now owns 34,816 shares in the company, valued at approximately $6,930,124.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other VeriSign news, EVP Thomas C. Indelicarto sold 613 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $199.05, for a total value of $122,017.65. Following the transaction, the executive vice president now directly owns 34,816 shares of the company's stock, valued at approximately $6,930,124.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Todd B. Strubbe sold 9,423 shares of the business's 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 owns 111,551 shares of the company's stock, valued at approximately $21,552,768.71. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,877 shares of company stock valued at $2,878,864. 0.94% of the stock is owned by company insiders.

Hedge Funds Weigh In On VeriSign

Hedge funds have recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of VeriSign by 10.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 272,103 shares of the information services provider's stock worth $56,042,000 after purchasing an additional 25,639 shares in the last quarter. Duality Advisers LP raised its position in shares of VeriSign by 142.0% in the 4th quarter. Duality Advisers LP now owns 29,874 shares of the information services provider's stock valued at $6,153,000 after buying an additional 17,529 shares in the last quarter. NewEdge Wealth LLC lifted its holdings in shares of VeriSign by 15.8% during the 4th quarter. NewEdge Wealth LLC now owns 72,544 shares of the information services provider's stock worth $14,941,000 after acquiring an additional 9,888 shares during the period. Seven Eight Capital LP boosted its position in shares of VeriSign by 41.4% during the 3rd quarter. Seven Eight Capital LP now owns 1,888 shares of the information services provider's stock worth $382,000 after acquiring an additional 553 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its position in shares of VeriSign by 11.4% during the 4th quarter. Vontobel Holding Ltd. now owns 85,196 shares of the information services provider's stock worth $17,547,000 after acquiring an additional 8,710 shares in the last quarter. 92.90% of the stock is owned by 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.