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

VeriSign, Inc. (NASDAQ:VRSN) CEO D James Bidzos sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $248.28, for a total transaction of $496,560.00. Following the sale, the chief executive officer owned 414,099 shares of the company’s stock, valued at $102,812,499.72. This trade represents a 0.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Tuesday, January 13th, D James Bidzos sold 5,000 shares of VeriSign stock. The stock was sold at an average price of $248.20, for a total transaction of $1,241,000.00.
• 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 transaction 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 transaction 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 shares were 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 stock was 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 shares were 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 value of $523,080.00.

VeriSign Stock Performance

Shares of NASDAQ:VRSN opened at $249.22 on Friday. The firm has a fifty 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 firm has a market capitalization of $23.10 billion, a PE ratio of 29.05 and a beta of 0.77.

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

VeriSign Dividend Announcement

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

Wall Street Analyst Weigh In

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

Institutional Trading of VeriSign

Several large investors have recently bought and sold shares of VRSN. Bruce G. Allen Investments LLC boosted its position in shares of VeriSign by 56.5% during the second quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 35 shares in the last quarter. Zions Bancorporation National Association UT increased its stake in shares of VeriSign by 20.2% in the 2nd quarter. Zions Bancorporation National Association UT now owns 226 shares of the information services provider’s stock worth $65,000 after acquiring an additional 38 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in VeriSign by 25.3% during the first quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock worth $50,000 after acquiring an additional 40 shares in the last quarter. Accretive Wealth Partners LLC increased its stake in shares of VeriSign by 0.8% during the third quarter. Accretive Wealth Partners LLC now owns 5,779 shares of the information services provider’s stock valued at $1,616,000 after purchasing an additional 44 shares in the last quarter. Finally, Gries Financial LLC lifted its holdings in shares of VeriSign by 2.8% during the second quarter. Gries Financial LLC now owns 1,745 shares of the information services provider’s stock valued at $504,000 after purchasing an additional 47 shares during the last quarter. 92.90% of the stock is owned by institutional investors.

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.