VeriSign (NASDAQ:VRSN) Sees Unusually-High Trading Volume – Here’s Why

VeriSign, Inc. (NASDAQ:VRSN) shares saw unusually-strong trading volume on Friday . Approximately 1,370,078 shares traded hands during mid-day trading, an increase of 56% from the previous session’s volume of 880,219 shares.The stock last traded at $253.4170 and had previously closed at $252.67.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on VRSN. JPMorgan Chase & Co. assumed coverage on VeriSign in a report on Tuesday, October 28th. They issued a “neutral” rating and a $270.00 target price on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of VeriSign in a research report on Tuesday. 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 target price on shares of VeriSign in a research report on Friday, October 24th. Finally, Citigroup reissued a “buy” rating on shares of VeriSign in a research note on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, VeriSign has a consensus rating of “Moderate Buy” and an average target price of $281.67.

VeriSign Trading Up 0.3%

The firm’s 50 day moving average price is $258.79 and its two-hundred day moving average price is $272.02. The company has a market capitalization of $23.50 billion, a P/E ratio of 29.54 and a beta of 0.76.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings results on Thursday, October 23rd. The information services provider reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $416.71 million. During the same period in the previous year, the business earned $2.07 EPS. The company’s revenue was up 7.3% 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 Tuesday, November 25th. Shareholders of record on Tuesday, November 18th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $3.08 annualized dividend and a dividend yield of 1.2%. VeriSign’s payout ratio is 35.90%.

Insider Buying and Selling

In other news, EVP Danny R. Mcpherson sold 2,500 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 28,577 shares of the company’s stock, valued at approximately $6,769,033.99. This represents a 8.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO D James Bidzos sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $246.05, for a total transaction of $492,100.00. Following the transaction, the chief executive officer owned 440,966 shares in the company, valued at approximately $108,499,684.30. The trade was a 0.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 47,839 shares of company stock worth $12,660,539. 0.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On VeriSign

A number of large investors have recently added to or reduced their stakes in the business. Livelsberger Financial Advisory acquired a new stake in VeriSign during the 2nd quarter worth approximately $27,000. Bruce G. Allen Investments LLC grew its stake 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 purchasing an additional 35 shares during the last quarter. Salomon & Ludwin LLC lifted its stake in shares of VeriSign by 112.5% in the third quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider’s stock worth $28,000 after acquiring an additional 54 shares during the period. Root Financial Partners LLC bought a new position in shares of VeriSign in the 3rd quarter worth about $29,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in VeriSign during the first quarter worth $34,000. Institutional investors own 92.90% 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.