VeriSign (NASDAQ:VRSN) CEO D James Bidzos Sells 3,300 Shares

VeriSign, Inc. (NASDAQ:VRSN) CEO D James Bidzos sold 3,300 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $281.20, for a total value of $927,960.00. Following the completion of the sale, the chief executive officer owned 412,939 shares in the company, valued at $116,118,446.80. This represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

D James Bidzos also recently made the following trade(s):

• On Tuesday, July 21st, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $270.44, for a total value of $892,452.00.
• On Tuesday, July 7th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $266.09, for a total value of $878,097.00.
• On Tuesday, June 30th, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $250.94, for a total value of $828,102.00.
• On Tuesday, June 23rd, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $248.53, for a total transaction of $820,149.00.
• On Tuesday, June 16th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $274.22, for a total transaction of $904,926.00.
• On Tuesday, June 9th, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $284.29, for a total transaction of $938,157.00.
• On Tuesday, June 2nd, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $297.47, for a total transaction of $981,651.00.

VeriSign Stock Up 3.5%

VeriSign stock opened at $290.92 on Thursday. The company’s 50-day moving average price is $275.26 and its 200-day moving average price is $260.17. VeriSign, Inc. has a twelve month low of $208.86 and a twelve month high of $312.48. The company has a market cap of $26.27 billion, a PE ratio of 31.55 and a beta of 0.71.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, July 23rd. The information services provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.02. The firm had revenue of $434.60 million during the quarter, compared to the consensus estimate of $433.19 million. VeriSign had a net margin of 49.76% and a negative return on equity of 39.20%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.21 EPS. As a group, sell-side analysts expect that VeriSign, Inc. will post 9.56 earnings per share for the current fiscal year.

VeriSign Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.81 per share. The ex-dividend date is Wednesday, August 19th. This represents a $3.24 dividend on an annualized basis and a yield of 1.1%. VeriSign’s dividend payout ratio is 35.14%.

Analysts Set New Price Targets

Several research firms recently weighed in on VRSN. Wedbush increased their price target on VeriSign from $318.00 to $324.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Zacks Research raised shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research note on Monday. Citigroup boosted their price target on VeriSign from $295.00 to $320.00 and gave the company a “buy” rating in a report on Friday, April 24th. JPMorgan Chase & Co. raised their target price on shares of VeriSign from $308.00 to $316.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of VeriSign in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $328.75.

Key Headlines Impacting VeriSign

Here are the key news stories impacting VeriSign this week:

• Positive Sentiment: Zacks upgraded VeriSign to “Strong Buy” from “Hold,” citing growing optimism about the company’s earnings prospects. The upgrade gives investors a fresh bullish signal and may be the main catalyst supporting the stock. VeriSign Upgraded to Strong Buy
• Positive Sentiment: A Seeking Alpha analysis upgraded the stock, arguing that the market may be overlooking aspects of VeriSign’s business and post-earnings outlook. The company’s recurring domain-registry revenue, strong margins and earnings beat provide support for the bullish view. VeriSign Analysis and Upgrade
• Positive Sentiment: Recent analyst targets remain above the trading range, with a reported consensus target of $328.75 and several firms maintaining Buy or Outperform ratings. This suggests potential upside, although the stock is already near its 52-week high.
• Neutral Sentiment: VeriSign outperformed several competitors during a broadly weaker session, indicating relative investor resilience, though the report did not identify a new fundamental catalyst. VeriSign Outperforms Competitors
• Negative Sentiment: CEO D. James Bidzos sold 3,300 shares, while EVPs John Calys and Thomas Indelicarto each sold 500 shares. The transactions reduced their individual holdings modestly, but the CEO and EVP sales were conducted under pre-arranged Rule 10b5-1 plans, reducing their significance as a bearish signal. VeriSign SEC Insider Sale Filing

Hedge Funds Weigh In On VeriSign

Institutional investors and hedge funds have recently bought and sold shares of the company. DV Equities LLC purchased a new stake in shares of VeriSign during the 4th quarter valued at $28,000. Sunbelt Securities Inc. grew its stake in VeriSign by 429.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 127 shares of the information services provider’s stock worth $36,000 after buying an additional 103 shares during the last quarter. Advisors Asset Management Inc. increased its position in VeriSign by 25.3% during the 1st quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock valued at $50,000 after buying an additional 40 shares in the last quarter. Activest Wealth Management raised its stake in VeriSign by 788.0% in the fourth quarter. Activest Wealth Management now owns 222 shares of the information services provider’s stock valued at $54,000 after buying an additional 197 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of VeriSign by 120.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 234 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 128 shares in the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

VeriSign Company Profile

VeriSign, Inc (NASDAQ: VRSN) is an internet infrastructure company that operates critical components of the global Domain Name System (DNS) and provides cybersecurity-related services. The company is best known as the authoritative registry operator for the .com and .net top-level domains, maintaining the central databases and zone files that enable domain name resolution for millions of websites. VeriSign’s registry role is performed under contractual agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and involves high-availability, highly secure operations to support continuous internet connectivity.

In addition to its registry business, VeriSign offers a suite of services designed to protect and accelerate DNS and internet traffic for enterprises and service providers.