VeriSign, Inc. (NASDAQ:VRSN - Get Rating) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 1,330,000 shares, an increase of 24.3% from the May 31st total of 1,070,000 shares. Currently, 1.2% of the company's stock are short sold. Based on an average daily volume of 782,000 shares, the days-to-cover ratio is presently 1.7 days.
Several brokerages recently commented on VRSN. StockNews.com began coverage on VeriSign in a report on Thursday, March 31st. They issued a "hold" rating for the company. Robert W. Baird downgraded VeriSign from an "outperform" rating to a "neutral" rating and lowered their price objective for the company from $260.00 to $210.00 in a research report on Friday, April 29th.
In other VeriSign news, CEO D James Bidzos sold 3,000 shares of VeriSign stock in a transaction on Tuesday, April 19th. The stock was sold at an average price of $213.97, for a total transaction of $641,910.00. Following the completion of the transaction, the chief executive officer now owns 713,915 shares in the company, valued at $152,756,392.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas C. Indelicarto sold 614 shares of VeriSign stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $226.55, for a total value of $139,101.70. Following the transaction, the executive vice president now owns 46,806 shares of the company's stock, valued at approximately $10,603,899.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,227 shares of company stock valued at $1,558,933. 0.98% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in VRSN. Riverview Trust Co purchased a new stake in shares of VeriSign in the first quarter worth about $30,000. Concord Wealth Partners bought a new position in shares of VeriSign during the fourth quarter valued at approximately $31,000. Quent Capital LLC bought a new position in shares of VeriSign during the fourth quarter valued at approximately $66,000. TCI Wealth Advisors Inc. grew its stake in shares of VeriSign by 21.0% during the fourth quarter. TCI Wealth Advisors Inc. now owns 277 shares of the information services provider's stock valued at $70,000 after buying an additional 48 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd bought a new position in VeriSign in the fourth quarter worth approximately $70,000. Institutional investors and hedge funds own 92.26% of the company's stock.
Shares of VeriSign stock opened at $170.81 on Monday. The stock's 50-day simple moving average is $172.31 and its 200-day simple moving average is $204.31. VeriSign has a 52 week low of $155.25 and a 52 week high of $257.03. The company has a market capitalization of $18.71 billion, a price-to-earnings ratio of 24.02 and a beta of 0.99.
VeriSign (NASDAQ:VRSN - Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The information services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.39 by $0.04. VeriSign had a negative return on equity of 46.72% and a net margin of 58.63%. The business had revenue of $346.90 million for the quarter, compared to the consensus estimate of $342.99 million. During the same period in the previous year, the business earned $1.33 earnings per share. The business's revenue was up 7.2% on a year-over-year basis. Analysts forecast that VeriSign will post 6.05 earnings per share for the current year.
VeriSign Company Profile (Get Rating)
VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. It enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of the 13 internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which support global e-commerce.
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