Evergreen Private Wealth LLC Sells 201 Shares of VeriSign, Inc. $VRSN

Evergreen Private Wealth LLC reduced its stake in VeriSign, Inc. (NASDAQ:VRSN) by 25.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 579 shares of the information services provider’s stock after selling 201 shares during the quarter. Evergreen Private Wealth LLC’s holdings in VeriSign were worth $167,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in VRSN. Livelsberger Financial Advisory bought a new stake in shares of VeriSign in the 2nd quarter worth approximately $27,000. Bruce G. Allen Investments LLC raised its holdings in VeriSign by 56.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider’s stock worth $28,000 after acquiring an additional 35 shares during the last quarter. Rakuten Securities Inc. raised its holdings in VeriSign by 13,000.0% in the 1st quarter. Rakuten Securities Inc. now owns 131 shares of the information services provider’s stock worth $33,000 after acquiring an additional 130 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in VeriSign in the 1st quarter worth approximately $34,000. Finally, UMB Bank n.a. raised its holdings in VeriSign by 106.5% in the 1st quarter. UMB Bank n.a. now owns 159 shares of the information services provider’s stock worth $40,000 after acquiring an additional 82 shares during the last quarter. 92.90% of the stock is owned by institutional investors.

VeriSign Trading Down 0.6%

Shares of VRSN opened at $283.69 on Friday. The firm has a market cap of $26.50 billion, a PE ratio of 33.85 and a beta of 0.79. The firm has a fifty day simple moving average of $277.82 and a two-hundred day simple moving average of $271.16. VeriSign, Inc. has a 1-year low of $175.62 and a 1-year high of $310.60.

VeriSign (NASDAQ:VRSN) last announced its earnings results on Thursday, July 24th. The information services provider reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.01. The business had revenue of $409.90 million during the quarter, compared to analyst estimates of $410.35 million. VeriSign had a net margin of 50.05% and a negative return on equity of 40.87%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.01 EPS. VeriSign has set its FY 2025 guidance at EPS.

VeriSign Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Tuesday, August 19th were paid a dividend of $0.77 per share. The ex-dividend date was Tuesday, August 19th. This represents a $3.08 dividend on an annualized basis and a yield of 1.1%. VeriSign’s payout ratio is currently 36.75%.

VeriSign announced that its board has approved a stock repurchase program on Thursday, July 24th that authorizes the company to repurchase $1.11 billion in shares. This repurchase authorization authorizes the information services provider to repurchase up to 4.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

VRSN has been the subject of a number of recent analyst reports. Citigroup restated a “buy” rating on shares of VeriSign in a report on Tuesday, July 8th. Robert W. Baird boosted their price objective on shares of VeriSign from $285.00 to $305.00 and gave the stock an “outperform” rating in a report on Tuesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat, VeriSign has a consensus rating of “Buy” and a consensus target price of $277.50.

Insider Buying and Selling at VeriSign

In other VeriSign news, EVP Thomas C. Indelicarto sold 501 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $282.28, for a total transaction of $141,422.28. Following the completion of the sale, the executive vice president directly owned 35,191 shares in the company, valued at approximately $9,933,715.48. The trade was a 1.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy Tomlinson sold 700 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $270.00, for a total value of $189,000.00. Following the completion of the sale, the director owned 15,284 shares of the company’s stock, valued at $4,126,680. This trade represents a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,706 shares of company stock worth $12,733,269. Insiders own 0.84% of the company’s stock.

VeriSign Profile

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.