VeriSign Inc. (VRSN) Sees Unusually-High Trading Volume
Shares of VeriSign Inc. (NASDAQ:VRSN) saw strong trading volume on Friday . 797,126 shares changed hands during trading, an increase of 12% from the previous session’s volume of 712,164 shares.The stock last traded at $85.54 and had previously closed at $83.40.
Separately, Zacks Investment Research downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Two equities 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 currently has an average rating of “Hold” and an average price target of $86.80.
The firm has a market capitalization of $9.29 billion and a price-to-earnings ratio of 28.72. The firm has a 50 day moving average price of $84.67 and a 200-day moving average price of $84.22.
VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, April 28th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $281.90 million for the quarter, compared to the consensus estimate of $277.77 million. During the same period in the prior year, the business posted $0.74 earnings per share. VeriSign’s revenue was up 9.3% compared to the same quarter last year. On average, analysts predict 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 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
A number of large investors have recently made changes to their positions in VRSN. Henderson Group PLC increased its stake in shares of 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 last quarter. Victory Capital Management Inc. increased its stake in shares of 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 last quarter. Suntrust Banks Inc. increased its stake in shares of 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 last quarter. SECOR Capital Advisors LP purchased a new stake in shares of VeriSign during the fourth quarter worth about $1,199,000. Finally, Wedge Capital Management L L P NC increased its stake in shares of VeriSign by 3.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 13,800 shares of the company’s stock worth $1,206,000 after buying an additional 500 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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