Insider Selling: VeriSign, Inc. (NASDAQ:VRSN) EVP Sells 2,092 Shares of Stock

VeriSign, Inc. (NASDAQ:VRSN) EVP Danny R. Mcpherson sold 2,092 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $192.43, for a total value of $402,563.56. Following the completion of the sale, the executive vice president now owns 26,157 shares of the company’s stock, valued at approximately $5,033,391.51. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

VeriSign Price Performance

Shares of NASDAQ VRSN opened at $188.96 on Friday. VeriSign, Inc. has a 1-year low of $167.04 and a 1-year high of $220.91. The company has a market capitalization of $18.16 billion, a price-to-earnings ratio of 21.97 and a beta of 0.92. The business has a 50-day moving average of $184.85 and a 200-day moving average of $181.07.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, October 24th. The information services provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.06. The firm had revenue of $390.60 million during the quarter, compared to analysts’ expectations of $390.19 million. VeriSign had a negative return on equity of 45.59% and a net margin of 55.74%. VeriSign’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.83 EPS.

Institutional Investors Weigh In On VeriSign

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in shares of VeriSign by 59.4% during the third quarter. Franklin Resources Inc. now owns 102,042 shares of the information services provider’s stock worth $19,224,000 after acquiring an additional 38,036 shares during the last quarter. Tri Ri Asset Management Corp acquired a new stake in VeriSign in the third quarter valued at $5,204,000. Tidal Investments LLC boosted its stake in VeriSign by 54.8% during the 3rd quarter. Tidal Investments LLC now owns 27,175 shares of the information services provider’s stock valued at $5,162,000 after acquiring an additional 9,619 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in VeriSign in the third quarter worth about $130,000. Finally, Te Ahumairangi Investment Management Ltd increased its holdings in VeriSign by 5.7% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 69,175 shares of the information services provider’s stock valued at $13,066,000 after buying an additional 3,760 shares during the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

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.