VeriSign Inc. (VRSN) Sees Large Volume Increase
VeriSign Inc. (NASDAQ:VRSN) saw an uptick in trading volume on Thursday . 1,394,712 shares traded hands during trading, an increase of 82% from the previous session’s volume of 764,686 shares.The stock last traded at $84.69 and had previously closed at $84.41.
Separately, Zacks Investment Research downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $86.80.
The company has a market cap of $9.19 billion and a price-to-earnings ratio of 28.42. The stock’s 50-day moving average is $84.79 and its 200-day moving average is $84.17.
VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, April 28th. The company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.02. The company had revenue of $281.90 million for the quarter, compared to analyst estimates of $277.77 million. The company’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS. On average, analysts predict that VeriSign Inc. will post $3.49 EPS for the current year.
In other news, major shareholder Berkshire Hathaway Inc sold 32,255 shares of the company’s stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $89.30, for a total transaction of $2,880,371.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
A number of hedge funds have bought and sold shares of the company. Mizuho Trust & Banking Co. Ltd. increased its stake in VeriSign by 0.9% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 159,947 shares of the company’s stock worth $14,098,000 after buying an additional 1,390 shares during the period. Suntrust Banks Inc. increased its stake in 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. Victory Capital Management Inc. increased its stake in VeriSign by 13.4% in the fourth quarter. Victory Capital Management Inc. now owns 13,574 shares of the company’s stock worth $1,186,000 after buying an additional 1,607 shares during the period. Stephens Inc. AR increased its stake in 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. Finally, Henderson Group PLC increased its stake in VeriSign by 43.7% in the fourth quarter. Henderson Group PLC now owns 11,970 shares of the company’s stock worth $1,046,000 after buying an additional 3,638 shares during the period.
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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