Investors Sell VeriSign Inc. (VRSN) on Strength (VRSN)
Investors sold shares of VeriSign Inc. (NASDAQ:VRSN) on strength during trading on Friday. $84.70 million flowed into the stock on the tick-up and $110.34 million flowed out of the stock on the tick-down, for a money net flow of $25.64 million out of the stock. Of all companies tracked, VeriSign had the 0th highest net out-flow for the day. VeriSign traded up $4.21 for the day and closed at $79.02
Several equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of VeriSign from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. JPMorgan Chase & Co. boosted their target price on shares of VeriSign from $84.00 to $88.00 and gave the company an “underweight” rating in a report on Friday, July 29th.
The firm has a market capitalization of $8.44 billion and a PE ratio of 25.17. The firm’s 50-day moving average is $80.71 and its 200-day moving average is $84.83.
VeriSign (NASDAQ:VRSN) last released its earnings results on Thursday, July 28th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. The business had revenue of $286 million for the quarter, compared to the consensus estimate of $284.34 million. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 EPS. Analysts anticipate that VeriSign Inc. will post $3.49 earnings per share for the current fiscal year.
In other VeriSign news, Director Timothy Tomlinson sold 1,477 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $85.30, for a total transaction of $125,988.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
A hedge fund recently raised its stake in VeriSign stock. Baird Financial Group Inc. raised its stake in shares of VeriSign Inc. (NASDAQ:VRSN) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,877 shares of the company’s stock after buying an additional 1,424 shares during the period. Baird Financial Group Inc.’s holdings in VeriSign were worth $2,872,000 as of its most recent SEC filing.
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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