Thomas C. Indelicarto Sells 2,456 Shares of VeriSign, Inc. (NASDAQ:VRSN) Stock

VeriSign, Inc. (NASDAQ:VRSN) EVP Thomas C. Indelicarto sold 2,456 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $190.00, for a total transaction of $466,640.00. Following the completion of the transaction, the executive vice president now owns 34,821 shares of the company’s stock, valued at approximately $6,615,990. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

VeriSign Stock Performance

VeriSign stock opened at $187.14 on Wednesday. VeriSign, Inc. has a 52-week low of $167.04 and a 52-week high of $220.91. The firm has a 50 day moving average price of $181.75 and a two-hundred day moving average price of $179.99. The firm has a market cap of $18.64 billion, a price-to-earnings ratio of 22.99 and a beta of 0.90.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, July 25th. The information services provider reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.08. The firm had revenue of $387.10 million during the quarter, compared to analyst estimates of $385.80 million. VeriSign had a net margin of 55.40% and a negative return on equity of 46.63%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.79 EPS.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VRSN. StockNews.com lowered shares of VeriSign from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. Robert W. Baird reiterated a “neutral” rating and issued a $200.00 price objective on shares of VeriSign in a report on Thursday, June 27th.

Institutional Trading of VeriSign

Several hedge funds have recently modified their holdings of the stock. Paragon Capital Management Inc. increased its stake in shares of VeriSign by 14.6% in the 2nd quarter. Paragon Capital Management Inc. now owns 8,087 shares of the information services provider’s stock valued at $1,438,000 after acquiring an additional 1,029 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of VeriSign in the 2nd quarter valued at $607,000. Troy Asset Management Ltd bought a new stake in shares of VeriSign in the 2nd quarter valued at $109,040,000. Aurora Investment Counsel bought a new stake in shares of VeriSign in the 2nd quarter valued at $2,689,000. Finally, Cetera Investment Advisers increased its stake in shares of VeriSign by 67.5% in the 2nd quarter. Cetera Investment Advisers now owns 7,659 shares of the information services provider’s stock valued at $1,362,000 after acquiring an additional 3,086 shares in the last quarter. Institutional investors own 92.90% of the company’s stock.

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.