VeriSign (NASDAQ:VRSN) Upgraded at StockNews.com

VeriSign (NASDAQ:VRSNGet Free Report) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

A number of other brokerages have also commented on VRSN. Citigroup cut their target price on VeriSign from $237.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. Robert W. Baird dropped their price objective on shares of VeriSign from $215.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, April 26th.

View Our Latest Analysis on VRSN

VeriSign Price Performance

NASDAQ VRSN opened at $169.58 on Friday. The company’s fifty day moving average is $178.88 and its two-hundred day moving average is $194.27. VeriSign has a 52-week low of $167.04 and a 52-week high of $227.83. The firm has a market capitalization of $16.89 billion, a price-to-earnings ratio of 20.83 and a beta of 0.89.

VeriSign (NASDAQ:VRSNGet Free Report) last released its earnings results on Thursday, April 25th. The information services provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.06. VeriSign had a negative return on equity of 47.21% and a net margin of 55.04%. The business had revenue of $384.30 million for the quarter, compared to the consensus estimate of $381.85 million. During the same period last year, the business earned $1.70 earnings per share. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year.

Insider Transactions at VeriSign

In other VeriSign news, Director Yehuda Ari Buchalter sold 866 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $170.01, for a total transaction of $147,228.66. Following the completion of the transaction, the director now directly owns 3,661 shares in the company, valued at $622,406.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Thomas C. Indelicarto sold 614 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $190.00, for a total value of $116,660.00. Following the transaction, the executive vice president now directly owns 41,955 shares of the company’s stock, valued at approximately $7,971,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yehuda Ari Buchalter sold 866 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $170.01, for a total value of $147,228.66. Following the sale, the director now directly owns 3,661 shares of the company’s stock, valued at $622,406.61. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,295 shares of company stock valued at $584,887. Corporate insiders own 0.84% of the company’s stock.

Institutional Trading of VeriSign

Large investors have recently made changes to their positions in the business. Cary Street Partners Investment Advisory LLC increased its stake in VeriSign by 52.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 152 shares of the information services provider’s stock worth $31,000 after purchasing an additional 52 shares in the last quarter. Modera Wealth Management LLC increased its stake in VeriSign by 3.6% in the 3rd quarter. Modera Wealth Management LLC now owns 1,721 shares of the information services provider’s stock valued at $349,000 after buying an additional 60 shares during the last quarter. CWM LLC increased its position in shares of VeriSign by 2.1% during the 4th quarter. CWM LLC now owns 2,960 shares of the information services provider’s stock worth $610,000 after purchasing an additional 60 shares during the last quarter. ProShare Advisors LLC raised its position in VeriSign by 0.3% during the first quarter. ProShare Advisors LLC now owns 21,513 shares of the information services provider’s stock worth $4,077,000 after acquiring an additional 62 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. lifted its stake in VeriSign by 1.1% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 6,129 shares of the information services provider’s stock valued at $1,262,000 after purchasing an additional 68 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.

About VeriSign

(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.

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