VeriSign (NASDAQ:VRSN) Price Target Cut to $200.00 by Analysts at Robert W. Baird

VeriSign (NASDAQ:VRSN) had its price target cut by Robert W. Baird from $215.00 to $200.00 in a research report report published on Friday, Benzinga reports. They currently have a neutral rating on the information services provider’s stock.

VRSN has been the topic of several other reports. Citigroup cut their price target on shares of VeriSign from $237.00 to $236.00 and set a buy rating on the stock in a report on Tuesday, April 2nd. StockNews.com lowered VeriSign from a buy rating to a hold rating in a report on Wednesday, April 3rd.

VeriSign Stock Performance

VRSN stock opened at $175.48 on Friday. The business has a 50-day simple moving average of $189.29 and a two-hundred day simple moving average of $200.03. The company has a market capitalization of $17.57 billion, a P/E ratio of 21.56 and a beta of 0.88. VeriSign has a 52-week low of $174.51 and a 52-week high of $229.72.

VeriSign (NASDAQ:VRSN) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.06. VeriSign had a negative return on equity of 47.39% and a net margin of 55.04%. The company had revenue of $384.30 million for the quarter, compared to analysts’ expectations of $381.85 million. During the same quarter in the previous year, the firm earned $1.70 earnings per share. VeriSign’s quarterly revenue was up 5.5% on a year-over-year basis.

Insiders Place Their Bets

In other news, EVP Thomas C. Indelicarto sold 613 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $195.33, for a total transaction of $119,737.29. Following the completion of the transaction, the executive vice president now directly owns 43,143 shares of the company’s stock, valued at approximately $8,427,122.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other VeriSign news, EVP Thomas C. Indelicarto sold 614 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $190.00, for a total transaction of $116,660.00. Following the sale, the executive vice president now directly owns 42,569 shares of the company’s stock, valued at $8,088,110. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Thomas C. Indelicarto sold 613 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $195.33, for a total transaction of $119,737.29. Following the transaction, the executive vice president now owns 43,143 shares of the company’s stock, valued at approximately $8,427,122.19. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,877 shares of company stock valued at $2,878,864. Company insiders own 0.94% of the company’s stock.

Institutional Trading of VeriSign

A number of institutional investors have recently modified their holdings of VRSN. UMB Bank n.a. boosted its holdings in shares of VeriSign by 91.7% in the third quarter. UMB Bank n.a. now owns 347 shares of the information services provider’s stock worth $70,000 after acquiring an additional 166 shares during the period. Czech National Bank boosted its position in shares of VeriSign by 46.3% in the third quarter. Czech National Bank now owns 15,683 shares of the information services provider’s stock valued at $3,176,000 after acquiring an additional 4,962 shares during the period. Linden Thomas Advisory Services LLC boosted its position in shares of VeriSign by 4.1% in the third quarter. Linden Thomas Advisory Services LLC now owns 4,439 shares of the information services provider’s stock valued at $899,000 after acquiring an additional 176 shares during the period. Atlantic Union Bankshares Corp grew its stake in VeriSign by 63.5% during the third quarter. Atlantic Union Bankshares Corp now owns 5,765 shares of the information services provider’s stock valued at $1,168,000 after acquiring an additional 2,238 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in VeriSign by 0.8% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 39,529 shares of the information services provider’s stock worth $8,006,000 after acquiring an additional 300 shares during the period. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

About VeriSign

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.