VeriSign, Inc. $VRSN Shares Bought by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. raised its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 36.5% during the 2nd quarter, Holdings Channel reports. The firm owned 49,033 shares of the information services provider’s stock after purchasing an additional 13,123 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in VeriSign were worth $14,161,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of VRSN. Livelsberger Financial Advisory acquired a new position in shares of VeriSign during the 2nd quarter worth approximately $27,000. Bruce G. Allen Investments LLC raised its holdings in shares of VeriSign by 56.5% in the second 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. Caitong International Asset Management Co. Ltd acquired a new position in shares of VeriSign in the first quarter worth $34,000. Ameritas Advisory Services LLC purchased a new stake in shares of VeriSign in the second quarter valued at $34,000. Finally, Bayforest Capital Ltd acquired a new stake in shares of VeriSign during the second quarter valued at $34,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at VeriSign

In related news, EVP Danny R. Mcpherson sold 2,500 shares of VeriSign stock in a transaction on Friday, October 31st. The stock was sold at an average price of $236.87, for a total value of $592,175.00. Following the transaction, the executive vice president owned 28,577 shares in the company, valued at approximately $6,769,033.99. This trade represents a 8.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO D James Bidzos sold 5,000 shares of the business’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $265.57, for a total value of $1,327,850.00. Following the sale, the chief executive officer directly owned 471,439 shares of the company’s stock, valued at approximately $125,200,055.23. This trade represents a 1.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 40,839 shares of company stock worth $10,918,189 over the last ninety days. Corporate insiders own 0.84% of the company’s stock.

VeriSign Price Performance

Shares of VRSN stock opened at $249.63 on Wednesday. The firm has a market cap of $23.14 billion, a P/E ratio of 29.09 and a beta of 0.76. VeriSign, Inc. has a 1-year low of $176.62 and a 1-year high of $310.60. The firm’s 50-day simple moving average is $263.82 and its 200-day simple moving average is $273.50.

VeriSign (NASDAQ:VRSN) last released its earnings results on Thursday, October 23rd. The information services provider reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.02. VeriSign had a net margin of 49.86% and a negative return on equity of 40.66%. The firm had revenue of $419.10 million during the quarter, compared to the consensus estimate of $416.71 million. During the same period in the previous year, the firm earned $2.07 earnings per share. VeriSign’s revenue was up 7.3% compared to the same quarter last year. VeriSign has set its FY 2025 guidance at EPS.

VeriSign declared that its board has approved a stock buyback plan on Thursday, July 24th that allows the company to repurchase $1.11 billion in outstanding shares. This repurchase authorization allows the information services provider to buy up to 4.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

VeriSign Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 18th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, November 18th. VeriSign’s dividend payout ratio is presently 35.90%.

Wall Street Analysts Forecast Growth

VRSN has been the subject of several analyst reports. Zacks Research raised shares of VeriSign to a “hold” rating in a research note on Thursday, October 30th. Robert W. Baird set a $325.00 price target on shares of VeriSign in a report on Friday, October 24th. JPMorgan Chase & Co. started coverage on shares of VeriSign in a research report on Tuesday, October 28th. They issued a “neutral” rating and a $270.00 price objective for the company. Citigroup restated a “buy” rating on shares of VeriSign in a research report on Friday, October 24th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of VeriSign in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, VeriSign has an average rating of “Moderate Buy” and a consensus target price of $281.67.

About VeriSign

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.