Traders Sell VeriSign Inc. (VRSN) on Strength (VRSN)
Traders sold shares of VeriSign Inc. (NASDAQ:VRSN) on strength during trading hours 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 equities 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
A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target 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 company has a market capitalization of $8.44 billion and a P/E ratio of 25.17. The company’s 50 day moving average is $80.71 and its 200-day moving average is $84.83.
VeriSign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.05. The company had revenue of $286 million for the quarter, compared to the consensus estimate of $284.34 million. During the same quarter last year, the business earned $0.74 earnings per share. VeriSign’s revenue was up 9.1% compared to the same quarter last year. On average, analysts forecast that VeriSign Inc. will post $3.49 earnings per share for the current year.
In other news, Director Timothy Tomlinson sold 1,477 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $85.30, for a total transaction of $125,988.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
A hedge fund recently raised its stake in VeriSign stock. Baird Financial Group Inc. raised its position in VeriSign Inc. (NASDAQ:VRSN) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting 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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