Traders Sell Shares of VeriSign Inc. (VRSN) on Strength (VRSN)
Investors sold shares of VeriSign Inc. (NASDAQ:VRSN) on strength during trading hours on Monday. $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 stocks tracked, VeriSign had the 20th highest net out-flow for the day. VeriSign traded up $4.21 for the day and closed at $79.02
A number of research firms recently issued reports on VRSN. 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. Zacks Investment Research downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th.
The stock has a 50 day moving average of $80.71 and a 200-day moving average of $84.83. The firm has a market capitalization of $8.44 billion and a P/E ratio of 25.17.
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, beating 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. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 earnings per share. Analysts predict that VeriSign Inc. will post $3.49 EPS for the current year.
In other VeriSign news, Director Timothy Tomlinson sold 1,477 shares of VeriSign stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
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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