VeriSign, Inc. (NASDAQ:VRSN) SVP John Calys Sells 447 Shares of Stock

VeriSign, Inc. (NASDAQ:VRSN) SVP John Calys sold 447 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $231.75, for a total value of $103,592.25. Following the completion of the transaction, the senior vice president now directly owns 23,735 shares in the company, valued at $5,500,586.25. The trade was a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

VeriSign Stock Up 2.2 %

Shares of VRSN traded up $5.09 on Tuesday, hitting $238.24. The company’s stock had a trading volume of 1,331,631 shares, compared to its average volume of 786,800. The firm’s fifty day moving average price is $213.09 and its 200-day moving average price is $194.51. VeriSign, Inc. has a fifty-two week low of $167.04 and a fifty-two week high of $239.05. The firm has a market capitalization of $22.54 billion, a price-to-earnings ratio of 29.78 and a beta of 0.90.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, February 6th. The information services provider reported $2.00 earnings per share for the quarter, meeting the consensus estimate of $2.00. VeriSign had a net margin of 50.47% and a negative return on equity of 43.01%.

Hedge Funds Weigh In On VeriSign

Several hedge funds have recently modified their holdings of VRSN. Crewe Advisors LLC bought a new stake in shares of VeriSign in the 4th quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new position in shares of VeriSign in the fourth quarter valued at about $26,000. Venturi Wealth Management LLC increased its stake in VeriSign by 127.2% during the 4th quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider’s stock worth $38,000 after acquiring an additional 103 shares during the period. Concord Wealth Partners raised its stake in VeriSign by 93.2% in the third quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 109 shares in the last quarter. Finally, BankPlus Trust Department bought a new stake in shares of VeriSign during the 4th quarter worth approximately $49,000. Institutional investors own 92.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Baird R W raised VeriSign from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Citigroup upped their target price on shares of VeriSign from $246.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. StockNews.com raised shares of VeriSign from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. Finally, Robert W. Baird upgraded shares of VeriSign from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $200.00 to $250.00 in a research report on Monday, December 9th.

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.