VeriSign (NASDAQ:VRSN) EVP Thomas Indelicarto Sells 498 Shares

VeriSign, Inc. (NASDAQ:VRSN) EVP Thomas Indelicarto sold 498 shares of VeriSign stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $249.08, for a total value of $124,041.84. Following the transaction, the executive vice president owned 30,115 shares of the company’s stock, valued at $7,501,044.20. This represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

VeriSign Price Performance

Shares of VRSN opened at $240.96 on Thursday. The firm has a 50 day simple moving average of $246.82 and a two-hundred day simple moving average of $260.24. The company has a market cap of $22.34 billion, a P/E ratio of 28.08 and a beta of 0.75. VeriSign, Inc. has a one year low of $216.43 and a one year high of $310.60.

Hedge Funds Weigh In On VeriSign

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in VeriSign during the 2nd quarter worth approximately $300,249,000. Vanguard Group Inc. raised its holdings in shares of VeriSign by 8.1% in the 3rd quarter. Vanguard Group Inc. now owns 11,443,710 shares of the information services provider’s stock valued at $3,199,318,000 after acquiring an additional 861,065 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of VeriSign by 32.9% during the second quarter. AQR Capital Management LLC now owns 3,097,003 shares of the information services provider’s stock worth $894,414,000 after purchasing an additional 767,363 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in VeriSign by 394.1% in the third quarter. Envestnet Asset Management Inc. now owns 552,008 shares of the information services provider’s stock valued at $154,325,000 after purchasing an additional 440,289 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in VeriSign during the second quarter valued at approximately $124,066,000. Institutional investors own 92.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on VRSN shares. Zacks Research downgraded VeriSign from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 30th. JPMorgan Chase & Co. boosted their target price on shares of VeriSign from $270.00 to $271.00 and gave the company a “neutral” rating in a research report on Tuesday, January 6th. Robert W. Baird set a $325.00 price objective on shares of VeriSign in a research report on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of VeriSign in a research report on Monday, December 29th. Finally, Citigroup reiterated a “buy” rating on shares of VeriSign in a report on Friday, October 24th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $298.00.

VeriSign Company Profile

VeriSign, Inc (NASDAQ: VRSN) is an internet infrastructure company that operates critical components of the global Domain Name System (DNS) and provides cybersecurity-related services. The company is best known as the authoritative registry operator for the .com and .net top-level domains, maintaining the central databases and zone files that enable domain name resolution for millions of websites. VeriSign’s registry role is performed under contractual agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and involves high-availability, highly secure operations to support continuous internet connectivity.

In addition to its registry business, VeriSign offers a suite of services designed to protect and accelerate DNS and internet traffic for enterprises and service providers.