VeriSign (NASDAQ:VRSN) CEO D James Bidzos Sells 5,000 Shares

VeriSign, Inc. (NASDAQ:VRSN) CEO D James Bidzos sold 5,000 shares of VeriSign stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $248.20, for a total value of $1,241,000.00. Following the completion of the transaction, the chief executive officer directly owned 416,099 shares in the company, valued at approximately $103,275,771.80. This represents a 1.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

D James Bidzos also recently made the following trade(s):

• On Wednesday, January 14th, D James Bidzos sold 2,000 shares of VeriSign stock. The shares were sold at an average price of $248.28, for a total transaction of $496,560.00.
• On Wednesday, December 17th, D James Bidzos sold 2,000 shares of VeriSign stock. The stock was sold at an average price of $244.25, for a total transaction of $488,500.00.
• On Tuesday, December 16th, D James Bidzos sold 5,000 shares of VeriSign stock. The stock was sold at an average price of $241.79, for a total value of $1,208,950.00.
• On Wednesday, December 10th, D James Bidzos sold 2,000 shares of VeriSign stock. The shares were sold at an average price of $242.07, for a total value of $484,140.00.
• On Tuesday, December 9th, D James Bidzos sold 5,000 shares of VeriSign stock. The shares were sold at an average price of $244.59, for a total value of $1,222,950.00.
• On Wednesday, November 19th, D James Bidzos sold 2,000 shares of VeriSign stock. The stock was sold at an average price of $246.05, for a total value of $492,100.00.
• On Tuesday, November 18th, D James Bidzos sold 5,000 shares of VeriSign stock. The shares were sold at an average price of $250.05, for a total value of $1,250,250.00.
• On Wednesday, November 12th, D James Bidzos sold 2,000 shares of VeriSign stock. The stock was sold at an average price of $251.27, for a total value of $502,540.00.
• On Tuesday, November 11th, D James Bidzos sold 5,000 shares of VeriSign stock. The stock was sold at an average price of $248.14, for a total transaction of $1,240,700.00.
• On Wednesday, October 22nd, D James Bidzos sold 2,000 shares of VeriSign stock. The shares were sold at an average price of $261.54, for a total transaction of $523,080.00.

VeriSign Stock Performance

NASDAQ:VRSN opened at $249.22 on Friday. The company has a 50-day moving average of $247.13 and a 200-day moving average of $263.89. VeriSign, Inc. has a 52 week low of $205.37 and a 52 week high of $310.60. The company has a market capitalization of $23.10 billion, a price-to-earnings ratio of 29.05 and a beta of 0.77.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, October 23rd. The information services provider reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.02. The firm had revenue of $419.10 million during the quarter, compared to analyst estimates of $416.71 million. VeriSign had a net margin of 49.86% and a negative return on equity of 40.66%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.07 earnings per share.

VeriSign Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 18th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Tuesday, November 18th. VeriSign’s dividend payout ratio (DPR) is 35.90%.

Wall Street Analyst Weigh In

Several research firms have issued reports on VRSN. Zacks Research lowered VeriSign from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of VeriSign in a research report on Monday, December 29th. Citigroup reissued a “buy” rating on shares of VeriSign in a report on Friday, October 24th. Robert W. Baird set a $325.00 price objective on shares of VeriSign in a research note on Friday, October 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of VeriSign from $270.00 to $271.00 and gave the stock a “neutral” rating in a report on Tuesday, January 6th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, VeriSign has an average rating of “Hold” and a consensus price target of $282.00.

Institutional Investors Weigh In On VeriSign

A number of hedge funds have recently added to or reduced their stakes in VRSN. Bruce G. Allen Investments LLC raised its stake in shares of VeriSign by 56.5% in the second quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider’s stock worth $28,000 after acquiring an additional 35 shares during the last quarter. Salomon & Ludwin LLC increased its holdings in shares of VeriSign by 112.5% in the third quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 54 shares in the last quarter. Root Financial Partners LLC bought a new position in VeriSign in the 3rd quarter worth approximately $29,000. Ameritas Advisory Services LLC acquired a new position in VeriSign during the 2nd quarter worth $34,000. Finally, Bayforest Capital Ltd bought a new position in VeriSign in the 2nd quarter valued at $34,000. Institutional investors own 92.90% of the company’s stock.

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.