Thomas C. Indelicarto Sells 614 Shares of VeriSign, Inc. (NASDAQ:VRSN) Stock

VeriSign, Inc. (NASDAQ:VRSN) EVP Thomas C. Indelicarto sold 614 shares of VeriSign stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $190.00, for a total value of $116,660.00. Following the completion of the transaction, the executive vice president now directly owns 42,569 shares in the company, valued at $8,088,110. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

VeriSign Trading Down 1.0 %

Shares of VRSN stock opened at $187.03 on Friday. VeriSign, Inc. has a 12 month low of $185.19 and a 12 month high of $229.72. The company has a market capitalization of $18.87 billion, a P/E ratio of 23.61 and a beta of 0.88. The stock has a 50 day moving average of $194.10 and a two-hundred day moving average of $202.07.

VeriSign (NASDAQ:VRSN) last issued its earnings results on Thursday, February 8th. The information services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.83 by $0.09. The firm had revenue of $380.40 million during the quarter, compared to analysts’ expectations of $381.01 million. VeriSign had a negative return on equity of 46.56% and a net margin of 54.74%. Sell-side analysts predict that VeriSign, Inc. will post 7.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

VRSN has been the topic of a number of research reports. Citigroup dropped their target price on shares of VeriSign from $237.00 to $236.00 and set a “buy” rating on the stock in a research report on Tuesday. StockNews.com downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a report on Wednesday.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of VeriSign by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 10,445,949 shares of the information services provider’s stock valued at $2,323,807,000 after purchasing an additional 59,957 shares during the period. BlackRock Inc. boosted its stake in VeriSign by 6.9% in the 1st quarter. BlackRock Inc. now owns 9,152,000 shares of the information services provider’s stock valued at $1,934,092,000 after buying an additional 587,635 shares in the last quarter. State Street Corp grew its position in VeriSign by 0.6% in the second quarter. State Street Corp now owns 3,715,753 shares of the information services provider’s stock valued at $839,649,000 after acquiring an additional 22,517 shares during the period. Morgan Stanley raised its stake in VeriSign by 14.7% during the third quarter. Morgan Stanley now owns 1,826,836 shares of the information services provider’s stock worth $369,989,000 after acquiring an additional 233,811 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in VeriSign by 0.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,484,066 shares of the information services provider’s stock worth $330,145,000 after acquiring an additional 13,379 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

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.