VeriSign (NASDAQ:VRSN) CEO D James Bidzos Sells 2,000 Shares

VeriSign, Inc. (NASDAQ:VRSN) CEO D James Bidzos sold 2,000 shares of VeriSign stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $246.05, for a total value of $492,100.00. Following the sale, the chief executive officer owned 440,966 shares in the company, valued at $108,499,684.30. The trade was a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 transaction 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 transaction of $502,540.00.
• On Tuesday, November 11th, D James Bidzos sold 5,000 shares of VeriSign stock. The shares were 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 stock was sold at an average price of $261.54, for a total transaction of $523,080.00.
• On Tuesday, October 21st, D James Bidzos sold 5,000 shares of VeriSign stock. The stock was sold at an average price of $267.43, for a total transaction of $1,337,150.00.
• On Wednesday, October 15th, D James Bidzos sold 2,000 shares of VeriSign stock. The shares were sold at an average price of $264.06, for a total value of $528,120.00.
• On Tuesday, October 14th, D James Bidzos sold 5,000 shares of VeriSign stock. The stock was sold at an average price of $265.57, for a total value of $1,327,850.00.
• On Wednesday, September 17th, D James Bidzos sold 2,000 shares of VeriSign stock. The shares were sold at an average price of $288.48, for a total value of $576,960.00.
• On Tuesday, September 16th, D James Bidzos sold 5,000 shares of VeriSign stock. The shares were sold at an average price of $287.34, for a total value of $1,436,700.00.
• On Wednesday, September 10th, D James Bidzos sold 2,000 shares of VeriSign stock. The stock was sold at an average price of $283.87, for a total value of $567,740.00.

VeriSign Stock Up 1.1%

VeriSign stock traded up $2.66 during midday trading on Thursday, reaching $248.42. The stock had a trading volume of 2,417,908 shares, compared to its average volume of 875,365. The firm has a market capitalization of $23.03 billion, a PE ratio of 28.95 and a beta of 0.76. VeriSign, Inc. has a 12 month low of $180.67 and a 12 month high of $310.60. The firm’s 50-day moving average price is $262.25 and its 200 day moving average price is $273.13.

VeriSign (NASDAQ:VRSN) last posted its earnings results on Thursday, October 23rd. The information services provider reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.02. VeriSign had a net margin of 49.86% and a negative return on equity of 40.66%. The firm had revenue of $419.10 million during the quarter, compared to the consensus estimate of $416.71 million. During the same quarter last year, the company earned $2.07 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. VeriSign has set its FY 2025 guidance at EPS.

VeriSign Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, November 18th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, November 18th. VeriSign’s payout ratio is currently 35.90%.

VeriSign announced that its Board of Directors has initiated a share repurchase plan on Thursday, July 24th that allows the company to buyback $1.11 billion in outstanding shares. This buyback authorization allows the information services provider to reacquire up to 4.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On VeriSign

Several institutional investors have recently bought and sold shares of VRSN. IFP Advisors Inc increased its stake in VeriSign by 17.0% in the 1st quarter. IFP Advisors Inc now owns 406 shares of the information services provider’s stock worth $103,000 after purchasing an additional 59 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in shares of VeriSign by 1.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 6,314 shares of the information services provider’s stock valued at $1,602,000 after purchasing an additional 99 shares during the period. Allianz Asset Management GmbH grew its holdings in shares of VeriSign by 180.7% in the first quarter. Allianz Asset Management GmbH now owns 113,496 shares of the information services provider’s stock worth $28,813,000 after purchasing an additional 73,061 shares during the last quarter. Choreo LLC increased its stake in shares of VeriSign by 23.5% in the first quarter. Choreo LLC now owns 1,600 shares of the information services provider’s stock worth $406,000 after buying an additional 304 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of VeriSign by 10.2% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 242,363 shares of the information services provider’s stock worth $61,529,000 after buying an additional 22,388 shares during the period. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on VRSN shares. JPMorgan Chase & Co. assumed coverage on VeriSign in a report on Tuesday, October 28th. They issued a “neutral” rating and a $270.00 price target for the company. Robert W. Baird set a $325.00 price objective on VeriSign in a report on Friday, October 24th. Weiss Ratings restated a “hold (c+)” rating on shares of VeriSign in a research report on Wednesday. Citigroup reiterated a “buy” rating on shares of VeriSign in a research report on Friday, October 24th. Finally, Zacks Research upgraded VeriSign to a “hold” rating in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, VeriSign presently has an average rating of “Moderate Buy” and a consensus target price of $281.67.

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.