VeriSign Inc. (VRSN) Sees Unusually-High Trading Volume
Shares of VeriSign Inc. (NASDAQ:VRSN) saw unusually-high trading volume on Thursday . Approximately 1,394,712 shares changed hands during mid-day 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 raised VeriSign from a “sell” rating to a “buy” rating and set a $99.00 price objective on the stock in a research note 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. VeriSign has a consensus rating of “Hold” and a consensus target price of $86.80.
The firm has a 50 day moving average price of $84.77 and a 200-day moving average price of $84.14. The company has a market capitalization of $9.12 billion and a P/E ratio of 28.20.
VeriSign (NASDAQ:VRSN) last released its earnings results on Thursday, April 28th. The company reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.02. During the same period last year, the business earned $0.74 earnings per share. The business earned $281.90 million during the quarter, compared to analysts’ expectations of $277.77 million. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts forecast that VeriSign Inc. will post $3.49 EPS for the current year.
In other VeriSign news, major shareholder Berkshire Hathaway Inc sold 32,255 shares of the firm’s stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $89.30, for a total value of $2,880,371.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. Stephens Inc. AR raised its position 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. Immersion Capital LLP purchased a new stake in VeriSign during the fourth quarter valued at approximately $25,083,000. Henderson Group PLC raised its stake in VeriSign by 43.7% in the fourth quarter. Henderson Group PLC now owns 11,970 shares of the company’s stock valued at $1,046,000 after buying an additional 3,638 shares during the last quarter. TrimTabs Asset Management LLC purchased a new stake in VeriSign during the fourth quarter valued at approximately $2,570,000. Finally, Cornerstone Capital Management Holdings LLC. raised its stake in VeriSign by 9.9% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 225,380 shares of the company’s stock valued at $19,689,000 after buying an additional 20,321 shares during the last quarter.
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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