Equities analysts predict that VeriSign, Inc. (NASDAQ:VRSN) will announce $322.33 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for VeriSign’s earnings, with the lowest sales estimate coming in at $321.42 million and the highest estimate coming in at $323.24 million. VeriSign reported sales of $312.52 million in the same quarter last year, which indicates a positive year over year growth rate of 3.1%. The firm is expected to issue its next quarterly earnings results on Thursday, April 22nd.

On average, analysts expect that VeriSign will report full year sales of $1.32 billion for the current financial year, with estimates ranging from $1.31 billion to $1.32 billion. For the next year, analysts forecast that the firm will report sales of $1.44 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for VeriSign.

VeriSign (NASDAQ:VRSN) last announced its earnings results on Thursday, February 11th. The information services provider reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.09. VeriSign had a net margin of 63.32% and a negative return on equity of 54.86%.

VRSN has been the topic of several recent research reports. Zacks Investment Research downgraded shares of VeriSign from a “hold” rating to a “sell” rating and set a $213.00 target price on the stock. in a research report on Monday, February 15th. JPMorgan Chase & Co. upgraded shares of VeriSign from a “neutral” rating to an “overweight” rating and set a $246.00 price target for the company in a research note on Wednesday, December 9th. Finally, TheStreet downgraded shares of VeriSign from a “b-” rating to a “c+” rating in a report on Tuesday, January 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. VeriSign currently has a consensus rating of “Hold” and a consensus price target of $229.60.

VRSN stock traded down $1.63 during mid-day trading on Thursday, hitting $191.60. The stock had a trading volume of 18,756 shares, compared to its average volume of 642,537. VeriSign has a 52 week low of $148.77 and a 52 week high of $221.30. The firm has a market capitalization of $21.86 billion, a P/E ratio of 28.92 and a beta of 0.87. The firm has a fifty day simple moving average of $198.97 and a 200 day simple moving average of $203.68.

In other news, CEO D James Bidzos sold 6,000 shares of the firm’s stock in a transaction on Wednesday, December 16th. The stock was sold at an average price of $215.07, for a total transaction of $1,290,420.00. Following the completion of the transaction, the chief executive officer now directly owns 855,888 shares in the company, valued at $184,075,832.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas C. Indelicarto sold 613 shares of VeriSign stock in a transaction dated Wednesday, December 16th. The stock was sold at an average price of $214.14, for a total value of $131,267.82. Following the completion of the sale, the executive vice president now owns 56,428 shares of the company’s stock, valued at $12,083,491.92. The disclosure for this sale can be found here. Insiders sold 40,904 shares of company stock valued at $8,397,133 in the last ninety days. 1.35% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its position in shares of VeriSign by 19.4% during the 4th quarter. Principal Financial Group Inc. now owns 3,023,327 shares of the information services provider’s stock valued at $654,248,000 after buying an additional 491,583 shares in the last quarter. JPMorgan Chase & Co. raised its stake in VeriSign by 39.0% during the 4th quarter. JPMorgan Chase & Co. now owns 170,081 shares of the information services provider’s stock valued at $36,805,000 after purchasing an additional 47,733 shares during the period. National Pension Service increased its stake in VeriSign by 6.0% in the 4th quarter. National Pension Service now owns 160,012 shares of the information services provider’s stock worth $34,627,000 after acquiring an additional 9,036 shares during the last quarter. Truist Financial Corp increased its stake in VeriSign by 89.0% in the 4th quarter. Truist Financial Corp now owns 10,520 shares of the information services provider’s stock worth $2,277,000 after acquiring an additional 4,953 shares during the last quarter. Finally, Stockbridge Partners LLC increased its stake in VeriSign by 32.2% in the 4th quarter. Stockbridge Partners LLC now owns 1,707,335 shares of the information services provider’s stock worth $369,467,000 after acquiring an additional 416,305 shares during the last quarter. 90.33% of the stock is currently owned by institutional investors and hedge funds.

VeriSign Company Profile

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and Internet infrastructure that enables Internet navigation for various recognized domain names worldwide. It enables the security, stability, and resiliency of Internet infrastructure and services, including providing root zone maintainer services, operating two of the 13 Internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which support global e-commerce.

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