ORG Wealth Partners LLC Acquires Shares of 249 VeriSign, Inc. $VRSN

ORG Wealth Partners LLC acquired a new stake in VeriSign, Inc. (NASDAQ:VRSN) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 249 shares of the information services provider’s stock, valued at approximately $72,000.

Several other large investors have also recently added to or reduced their stakes in VRSN. AQR Capital Management LLC increased its stake in VeriSign by 75.5% in the 1st quarter. AQR Capital Management LLC now owns 2,329,640 shares of the information services provider’s stock valued at $586,417,000 after buying an additional 1,002,510 shares during the period. GAMMA Investing LLC increased its stake in VeriSign by 34,326.0% in the 1st quarter. GAMMA Investing LLC now owns 697,127 shares of the information services provider’s stock valued at $176,980,000 after buying an additional 695,102 shares during the period. Alliancebernstein L.P. increased its stake in shares of VeriSign by 477.1% during the 1st quarter. Alliancebernstein L.P. now owns 791,271 shares of the information services provider’s stock worth $200,880,000 after purchasing an additional 654,170 shares during the last quarter. Amundi increased its stake in shares of VeriSign by 71.3% during the 1st quarter. Amundi now owns 1,202,278 shares of the information services provider’s stock worth $307,098,000 after purchasing an additional 500,223 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of VeriSign during the 1st quarter worth $86,014,000. Institutional investors and hedge funds own 92.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on VRSN. Robert W. Baird increased their price target on shares of VeriSign from $285.00 to $305.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 1st. Citigroup restated a “buy” rating on shares of VeriSign in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $277.50.

Insider Buying and Selling at VeriSign

In other VeriSign news, CEO D James Bidzos sold 2,000 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $288.48, for a total value of $576,960.00. Following the completion of the sale, the chief executive officer directly owned 476,439 shares of the company’s stock, valued at $137,443,122.72. This represents a 0.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas C. Indelicarto sold 501 shares of the 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 of the company’s stock, valued at approximately $9,933,715.48. This trade represents a 1.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,706 shares of company stock valued at $12,733,269 in the last ninety days. Company insiders own 0.84% of the company’s stock.

VeriSign Trading Up 0.3%

NASDAQ VRSN opened at $284.42 on Friday. The company has a fifty day simple moving average of $277.84 and a 200 day simple moving average of $271.74. The company has a market cap of $26.57 billion, a P/E ratio of 33.94 and a beta of 0.79. VeriSign, Inc. has a 1 year low of $175.62 and a 1 year high of $310.60.

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

VeriSign Announces Dividend

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

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

VeriSign Company 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.