Jackson Thornton Wealth Management LLC Acquires Shares of 954 VeriSign, Inc. $VRSN

Jackson Thornton Wealth Management LLC acquired a new stake in VeriSign, Inc. (NASDAQ:VRSN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 954 shares of the information services provider’s stock, valued at approximately $274,000.

Other institutional investors also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory purchased a new stake in VeriSign in the 2nd quarter valued at approximately $27,000. Bruce G. Allen Investments LLC boosted 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 valued at $28,000 after purchasing an additional 35 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in shares of VeriSign during the 2nd quarter valued at approximately $34,000. Ameritas Advisory Services LLC acquired a new stake in shares of VeriSign during the 2nd quarter valued at approximately $34,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of VeriSign during the 1st quarter valued at approximately $34,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VRSN. Citigroup reiterated a “buy” rating on shares of VeriSign in a research report on Tuesday, July 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of VeriSign in a research report on Wednesday, October 8th. Finally, Robert W. Baird lifted their price target on shares of VeriSign from $285.00 to $305.00 and gave the company an “outperform” rating in a research report on Tuesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $277.50.

VeriSign Price Performance

Shares of VeriSign stock opened at $266.92 on Tuesday. VeriSign, Inc. has a 1 year low of $175.62 and a 1 year high of $310.60. The company has a market capitalization of $24.93 billion, a P/E ratio of 31.85 and a beta of 0.79. The business has a 50 day moving average price of $274.71 and a 200 day moving average price of $274.49.

VeriSign (NASDAQ:VRSN) last issued 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 negative return on equity of 40.87% and a net margin of 50.05%.The firm had revenue of $409.90 million during the quarter, compared to the consensus estimate of $410.35 million. During the same period in the previous year, the firm posted $2.01 EPS. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. VeriSign has set its FY 2025 guidance at EPS.

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

Insider Activity

In related news, CEO D James Bidzos sold 5,000 shares of VeriSign stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $264.15, for a total transaction of $1,320,750.00. Following the completion of the transaction, the chief executive officer directly owned 508,772 shares in the company, valued at $134,392,123.80. The trade was a 0.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 38,706 shares of company stock worth $10,591,676. Insiders own 0.84% of the company’s stock.

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.