Robert W. Baird Issues Positive Forecast for VeriSign (NASDAQ:VRSN) Stock Price

VeriSign (NASDAQ:VRSN - Get Free Report) had its price target increased by investment analysts at Robert W. Baird from $285.00 to $305.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the information services provider's stock. Robert W. Baird's price objective points to a potential upside of 5.51% from the company's current price.

Separately, Wall Street Zen raised VeriSign from a "hold" rating to a "buy" rating in a research report on Saturday, April 12th.

VeriSign Trading Up 0.1%

VeriSign stock traded up $0.28 on Tuesday, hitting $289.08. 650,338 shares of the stock traded hands, compared to its average volume of 752,241. VeriSign has a 1 year low of $172.49 and a 1 year high of $291.76. The firm has a market cap of $27.14 billion, a P/E ratio of 35.34 and a beta of 0.77. The business's fifty day simple moving average is $278.28 and its 200 day simple moving average is $244.54.

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

Insiders Place Their Bets

In other news, Director Yehuda Ari Buchalter sold 600 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $283.79, for a total value of $170,274.00. Following the completion of the transaction, the director owned 3,735 shares in the company, valued at $1,059,955.65. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas C. Indelicarto sold 501 shares of VeriSign stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $275.44, for a total value of $137,995.44. Following the completion of the sale, the executive vice president owned 39,272 shares of the company's stock, valued at $10,817,079.68. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,002 shares of company stock valued at $7,013,599. 0.84% of the stock is currently owned by company insiders.

Institutional Trading of VeriSign

A number of large investors have recently made changes to their positions in the stock. Kera Capital Partners Inc. grew its position in VeriSign by 131.8% in the 2nd quarter. Kera Capital Partners Inc. now owns 2,378 shares of the information services provider's stock worth $687,000 after purchasing an additional 1,352 shares during the period. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of VeriSign in the first quarter worth $1,099,000. Strs Ohio bought a new stake in shares of VeriSign in the first quarter worth $2,894,000. Belpointe Asset Management LLC purchased a new stake in VeriSign during the first quarter valued at $345,000. Finally, Focus Partners Wealth increased its position in VeriSign by 59.9% during the first quarter. Focus Partners Wealth now owns 8,355 shares of the information services provider's stock valued at $2,121,000 after acquiring an additional 3,129 shares during the last quarter. 92.90% of the stock is currently 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.