VeriSign, Inc. (NASDAQ:VRSN – Get Free Report) CEO D James Bidzos sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $291.09, for a total transaction of $960,597.00. Following the transaction, the chief executive officer owned 394,927 shares of the company’s stock, valued at approximately $114,959,300.43. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
D James Bidzos also recently made the following trade(s):
- On Tuesday, August 25th, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $291.16, for a total value of $960,828.00.
- On Tuesday, August 18th, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $277.85, for a total value of $916,905.00.
- On Tuesday, August 4th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $296.54, for a total value of $978,582.00.
- On Tuesday, July 28th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $281.20, for a total value of $927,960.00.
- On Tuesday, July 21st, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $270.44, for a total value of $892,452.00.
- On Tuesday, July 7th, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $266.09, for a total value of $878,097.00.
- On Tuesday, June 30th, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $250.94, for a total value of $828,102.00.
- On Tuesday, June 23rd, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $248.53, for a total value of $820,149.00.
- On Tuesday, June 16th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $274.22, for a total transaction of $904,926.00.
- On Tuesday, June 9th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $284.29, for a total transaction of $938,157.00.
VeriSign Trading Up 0.6%
VRSN opened at $289.96 on Thursday. The company has a market cap of $26.18 billion, a P/E ratio of 31.45 and a beta of 0.70. The company’s 50 day moving average is $277.46 and its 200-day moving average is $268.19. VeriSign, Inc. has a 1-year low of $208.86 and a 1-year high of $312.48.
VeriSign Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Wednesday, August 19th were paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, August 19th. VeriSign’s dividend payout ratio is presently 35.14%.
Hedge Funds Weigh In On VeriSign
A number of hedge funds and other institutional investors have recently made changes to their positions in VRSN. California State Teachers Retirement System increased its position in VeriSign by 30,008.2% during the 2nd quarter. California State Teachers Retirement System now owns 34,563,589 shares of the information services provider’s stock valued at $8,694,816,000 after purchasing an additional 34,448,791 shares during the period. Berkshire Hathaway Inc acquired a new position in shares of VeriSign in the 2nd quarter worth approximately $2,261,494,000. BlackRock Inc. bought a new stake in shares of VeriSign in the 2nd quarter valued at $2,116,154,000. Norges Bank bought a new stake in shares of VeriSign in the 4th quarter valued at $312,900,000. Finally, Legal & General Group Plc bought a new stake in shares of VeriSign in the 2nd quarter valued at $172,641,000. 92.90% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on VRSN. Zacks Research upgraded VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. increased their target price on VeriSign from $308.00 to $316.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Wedbush lifted their price target on VeriSign from $324.00 to $341.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of VeriSign in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $333.00.
Check Out Our Latest Stock Analysis on VRSN
VeriSign Company Profile
VeriSign, Inc (NASDAQ: VRSN) is an internet infrastructure company that operates critical components of the global Domain Name System (DNS) and provides cybersecurity-related services. The company is best known as the authoritative registry operator for the .com and .net top-level domains, maintaining the central databases and zone files that enable domain name resolution for millions of websites. VeriSign’s registry role is performed under contractual agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and involves high-availability, highly secure operations to support continuous internet connectivity.
In addition to its registry business, VeriSign offers a suite of services designed to protect and accelerate DNS and internet traffic for enterprises and service providers.
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