VeriSign Inc. (VRSN) Shares Down 1.4%
VeriSign Inc. (NASDAQ:VRSN) dropped 1.4% on Wednesday . The company traded as low as $82.40 and last traded at $83.02, with a volume of 368,567 shares. The stock had previously closed at $84.19.
Separately, Zacks Investment Research upgraded VeriSign from a “sell” rating to a “buy” rating and set a $99.00 target price for the company in a report on Wednesday, April 13th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. VeriSign has an average rating of “Hold” and a consensus target price of $86.80.
The company has a market capitalization of $9.00 billion and a P/E ratio of 27.85. The firm’s 50 day moving average is $84.60 and its 200 day moving average is $84.24.
VeriSign (NASDAQ:VRSN) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. During the same period in the previous year, the company posted $0.74 earnings per share. The business had revenue of $281.90 million for the quarter, compared to analyst estimates of $277.77 million. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts predict that VeriSign Inc. will post $3.49 earnings per share for the current fiscal year.
In other news, major shareholder Berkshire Hathaway Inc sold 32,255 shares of the company’s stock in a transaction on Friday, April 29th. The stock was sold at an average price of $89.30, for a total transaction of $2,880,371.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Several large investors recently made changes to their positions in VRSN. Matarin Capital Management LLC bought a new stake in shares of VeriSign during the fourth quarter worth $4,562,000. Stephens Inc. AR raised its stake in shares of VeriSign by 2.8% in the fourth quarter. Stephens Inc. AR now owns 62,874 shares of the company’s stock worth $5,493,000 after buying an additional 1,711 shares during the period. Trexquant Investment LP bought a new stake in shares of VeriSign during the fourth quarter worth $1,354,000. Suntrust Banks Inc. raised its stake in shares of VeriSign by 13.0% in the fourth quarter. Suntrust Banks Inc. now owns 13,710 shares of the company’s stock worth $1,197,000 after buying an additional 1,581 shares during the period. Finally, Bailard Inc. bought a new stake in shares of VeriSign during the fourth quarter worth $1,616,000.
VeriSign, Inc is a provider of domain name registry services and Internet security, enabling Internet navigation for domain names and providing protection for Websites and enterprises around the world (Registry Services). The Company operates in Registry Services and Security Services segment. Its product suite also includes Security Services consisting of Distributed Denial of Service (DDoS) Protection Services, Verisign iDefense Security Intelligence Services (iDefense) and Managed Domain Name System (Managed DNS) Services.
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