VeriSign (NASDAQ:VRSN) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of VeriSign (NASDAQ:VRSNFree Report) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

Separately, Citigroup reduced their price target on shares of VeriSign from $237.00 to $236.00 and set a buy rating on the stock in a research report on Tuesday.

Get Our Latest Stock Report on VRSN

VeriSign Stock Performance

VeriSign stock opened at $188.97 on Wednesday. VeriSign has a 1 year low of $185.19 and a 1 year high of $229.72. The firm has a 50 day moving average price of $194.40 and a 200 day moving average price of $202.17. The company has a market cap of $19.07 billion, a price-to-earnings ratio of 23.86 and a beta of 0.88.

VeriSign (NASDAQ:VRSNGet Free Report) last announced its quarterly earnings results on Thursday, February 8th. The information services provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.09. The firm had revenue of $380.40 million for the quarter, compared to analysts’ expectations of $381.01 million. VeriSign had a net margin of 54.74% and a negative return on equity of 46.56%. Sell-side analysts predict that VeriSign will post 7.82 EPS for the current year.

Insider Transactions at VeriSign

In other news, CEO D James Bidzos sold 2,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $203.58, for a total transaction of $407,160.00. Following the transaction, the chief executive officer now directly owns 504,306 shares of the company’s stock, valued at $102,666,615.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Thomas C. Indelicarto sold 614 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $190.00, for a total transaction of $116,660.00. Following the transaction, the executive vice president now directly owns 42,569 shares of the company’s stock, valued at $8,088,110. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO D James Bidzos sold 2,000 shares of VeriSign stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $203.58, for a total transaction of $407,160.00. Following the completion of the sale, the chief executive officer now owns 504,306 shares of the company’s stock, valued at approximately $102,666,615.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,001 shares of company stock valued at $4,518,942. Corporate insiders own 0.94% of the company’s stock.

Institutional Trading of VeriSign

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nomura Holdings Inc. bought a new stake in shares of VeriSign in the fourth quarter worth $371,000. Quadrature Capital Ltd bought a new stake in shares of VeriSign in the fourth quarter worth $1,331,000. Sivia Capital Partners LLC bought a new stake in shares of VeriSign in the fourth quarter worth $210,000. Neo Ivy Capital Management bought a new stake in shares of VeriSign in the fourth quarter worth $77,000. Finally, V Square Quantitative Management LLC increased its stake in shares of VeriSign by 7.2% in the fourth quarter. V Square Quantitative Management LLC now owns 1,098 shares of the information services provider’s stock worth $226,000 after buying an additional 74 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.

VeriSign Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for VeriSign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VeriSign and related companies with MarketBeat.com's FREE daily email newsletter.