Traders Sell Shares of VeriSign Inc. (VRSN) on Strength (VRSN)
Traders sold shares of VeriSign Inc. (NASDAQ:VRSN) on strength during trading hours on Monday. $16.57 million flowed into the stock on the tick-up and $32.13 million flowed out of the stock on the tick-down, for a money net flow of $15.56 million out of the stock. Of all equities tracked, VeriSign had the 0th highest net out-flow for the day. VeriSign traded up $0.12 for the day and closed at $75.17
A number of research firms have weighed in on VRSN. JPMorgan Chase & Co. upped their target price on VeriSign from $84.00 to $88.00 and gave the stock an “underweight” rating in a research report on Friday, July 29th. Zacks Investment Research downgraded VeriSign from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th.
The stock’s 50-day moving average is $82.93 and its 200-day moving average is $84.95. The company has a market cap of $8.03 billion and a P/E ratio of 23.95.
VeriSign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.05. During the same period last year, the company earned $0.74 EPS. The business earned $286 million during the quarter, compared to analyst estimates of $284.34 million. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities analysts forecast that VeriSign Inc. will post $3.49 EPS for the current fiscal year.
In related news, Director Timothy Tomlinson sold 1,477 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $85.30, for a total value of $125,988.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Other hedge funds and institutional investors have bought and sold shares of the company. BlackRock Advisors LLC raised its position in VeriSign by 1.9% in the fourth quarter. BlackRock Advisors LLC now owns 290,745 shares of the company’s stock valued at $25,400,000 after buying an additional 5,340 shares during the period. Matarin Capital Management LLC acquired a new position in VeriSign during the fourth quarter valued at about $4,562,000. 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 valued at $5,493,000 after buying an additional 1,711 shares during the period. Trexquant Investment LP acquired a new position in VeriSign during the fourth quarter valued at about $1,354,000. Finally, Suntrust Banks Inc. raised its position in VeriSign by 13.0% in the fourth quarter. Suntrust Banks Inc. now owns 13,710 shares of the company’s stock valued at $1,197,000 after buying an additional 1,581 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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