Verisign, Inc. (NASDAQ:VRSN) COO Todd B. Strubbe sold 9,500 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $208.25, for a total transaction of $1,978,375.00. Following the completion of the sale, the chief operating officer now directly owns 115,392 shares in the company, valued at $24,030,384. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Verisign stock opened at $211.68 on Friday. The stock has a market cap of $24.31 billion, a P/E ratio of 31.41 and a beta of 0.90. Verisign, Inc. has a twelve month low of $148.77 and a twelve month high of $221.30. The company’s 50-day moving average price is $206.22 and its two-hundred day moving average price is $202.99.

Verisign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, July 23rd. The information services provider reported $1.32 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.32. The firm had revenue of $314.37 million for the quarter, compared to analysts’ expectations of $312.43 million. Verisign had a net margin of 63.32% and a negative return on equity of 54.86%. As a group, equities analysts forecast that Verisign, Inc. will post 5.26 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Ipswich Investment Management Co. Inc. raised its holdings in Verisign by 1.6% in the 1st quarter. Ipswich Investment Management Co. Inc. now owns 3,575 shares of the information services provider’s stock valued at $644,000 after acquiring an additional 55 shares during the period. Fisher Asset Management LLC grew its position in shares of Verisign by 2.2% during the 1st quarter. Fisher Asset Management LLC now owns 2,631 shares of the information services provider’s stock worth $474,000 after purchasing an additional 56 shares in the last quarter. Checchi Capital Advisers LLC grew its position in shares of Verisign by 4.1% during the 1st quarter. Checchi Capital Advisers LLC now owns 1,416 shares of the information services provider’s stock worth $255,000 after purchasing an additional 56 shares in the last quarter. Signaturefd LLC grew its position in shares of Verisign by 3.8% during the 2nd quarter. Signaturefd LLC now owns 1,686 shares of the information services provider’s stock worth $349,000 after purchasing an additional 61 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in shares of Verisign by 16.2% during the 1st quarter. Bessemer Group Inc. now owns 496 shares of the information services provider’s stock worth $89,000 after purchasing an additional 69 shares in the last quarter. 91.57% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on VRSN. Cfra upped their target price on shares of Verisign from $199.00 to $204.00 and gave the company a “hold” rating in a report on Monday, April 27th. BidaskClub cut shares of Verisign from a “hold” rating to a “sell” rating in a report on Wednesday, July 15th. Robert W. Baird reaffirmed a “buy” rating and issued a $250.00 target price on shares of Verisign in a report on Tuesday, June 23rd. Zacks Investment Research raised shares of Verisign from a “hold” rating to a “buy” rating and set a $219.00 target price on the stock in a report on Monday, July 27th. Finally, Citigroup upped their target price on shares of Verisign from $220.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $227.00.

About Verisign

VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.

Further Reading: Depreciation

Insider Buying and Selling by Quarter for Verisign (NASDAQ:VRSN)

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