VeriSign (VRSN) Scheduled to Post Earnings on Thursday

VeriSign (NASDAQ:VRSN - Get Free Report) is scheduled to be releasing its earnings data after the market closes on Thursday, April 25th. Analysts expect VeriSign to post earnings of $1.84 per share for the quarter. VeriSign has set its FY 2024 guidance at EPS.Persons interested in listening to the company's earnings conference call can do so using this link.

VeriSign (NASDAQ:VRSN - Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The information services provider reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.09. The company had revenue of $380.40 million for the quarter, compared to the consensus estimate of $381.01 million. VeriSign had a net margin of 54.74% and a negative return on equity of 46.56%. On average, analysts expect VeriSign to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

VeriSign Trading Up 0.8 %

Shares of NASDAQ:VRSN traded up $1.39 during midday trading on Thursday, reaching $182.96. The company had a trading volume of 594,249 shares, compared to its average volume of 573,346. VeriSign has a 52-week low of $181.57 and a 52-week high of $229.72. The company's 50 day moving average price is $191.22 and its 200 day moving average price is $201.06. The stock has a market cap of $18.32 billion, a P/E ratio of 22.93 and a beta of 0.88.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VRSN. StockNews.com cut VeriSign from a "buy" rating to a "hold" rating in a research note on Wednesday, April 3rd. Citigroup lowered their price objective on VeriSign from $237.00 to $236.00 and set a "buy" rating on the stock in a research note on Tuesday, April 2nd.

Insider Activity at VeriSign

In other news, EVP Thomas C. Indelicarto sold 613 shares of the company's stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $195.33, for a total transaction of $119,737.29. Following the sale, the executive vice president now directly owns 43,143 shares in the company, valued at $8,427,122.19. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Thomas C. Indelicarto sold 613 shares of the company's stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $195.33, for a total value of $119,737.29. Following the transaction, the executive vice president now directly owns 43,143 shares in the company, valued at $8,427,122.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thomas C. Indelicarto sold 614 shares of the company's stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $190.00, for a total transaction of $116,660.00. Following the completion of the transaction, the executive vice president now owns 41,955 shares in the company, valued at $7,971,450. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,877 shares of company stock worth $2,878,864. Company insiders own 0.94% of the company's stock.

Institutional Trading of VeriSign

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Asset Management Inc boosted its stake in VeriSign by 0.4% in the first quarter. CIBC Asset Management Inc now owns 13,943 shares of the information services provider's stock worth $2,947,000 after buying an additional 56 shares in the last quarter. IHT Wealth Management LLC boosted its stake in VeriSign by 7.7% in the second quarter. IHT Wealth Management LLC now owns 1,051 shares of the information services provider's stock worth $237,000 after buying an additional 75 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in VeriSign by 1.2% in the fourth quarter. Neuberger Berman Group LLC now owns 6,187 shares of the information services provider's stock worth $1,271,000 after buying an additional 75 shares in the last quarter. Clear Street Markets LLC boosted its stake in VeriSign by 94.6% in the first quarter. Clear Street Markets LLC now owns 181 shares of the information services provider's stock worth $38,000 after buying an additional 88 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its stake in VeriSign by 2.7% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 3,345 shares of the information services provider's stock worth $581,000 after buying an additional 89 shares in the last quarter. 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.