Pinkerton Wealth LLC Buys New Shares in VeriSign, Inc. $VRSN

Pinkerton Wealth LLC acquired 6,966 shares of VeriSign, Inc. valued at approximately $2,012,000 in Q2, as per their latest SEC filing. Other institutional investors also adjusted their stakes in VeriSign. The company's stock opened at $251.02 with a market cap of $23.27 billion. Analysts have given it a "Moderate Buy" rating with a target price of $281.67.

Pinkerton Wealth LLC purchased a new stake in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,966 shares of the information services provider's stock, valued at approximately $2,012,000.

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A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Avantax Advisory Services Inc. grew its stake in shares of VeriSign by 28.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 2,244 shares of the information services provider's stock valued at $570,000 after acquiring an additional 502 shares during the period. Cetera Investment Advisers purchased a new position in VeriSign during the first quarter valued at approximately $1,481,000. LPL Financial LLC lifted its holdings in VeriSign by 12.3% during the first quarter. LPL Financial LLC now owns 53,194 shares of the information services provider's stock valued at $13,504,000 after purchasing an additional 5,818 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of VeriSign by 211.0% in the first quarter. Federated Hermes Inc. now owns 793 shares of the information services provider's stock worth $201,000 after purchasing an additional 538 shares during the period. Finally, Blair William & Co. IL purchased a new stake in shares of VeriSign in the first quarter worth $232,000. Hedge funds and other institutional investors own 92.90% of the company's stock.

VeriSign Stock Performance

Shares of VRSN opened at $251.02 on Tuesday. The stock has a market capitalization of $23.27 billion, a PE ratio of 29.26 and a beta of 0.76. The company's fifty day moving average is $257.56 and its 200 day moving average is $271.55. VeriSign, Inc. has a fifty-two week low of $185.44 and a fifty-two week high of $310.60.

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VeriSign (NASDAQ:VRSN - Get Free Report) last issued its quarterly earnings data on Thursday, October 23rd. The information services provider reported $2.27 EPS for the quarter, topping 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 business had revenue of $419.10 million during the quarter, compared to analysts' expectations of $416.71 million. During the same period last year, the company posted $2.07 EPS. The business's revenue was up 7.3% on a year-over-year basis. VeriSign has set its FY 2025 guidance at EPS.

VeriSign Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 18th were paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, November 18th. VeriSign's payout ratio is presently 35.90%.

Wall Street Analysts Forecast Growth

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Several research analysts recently weighed in on VRSN shares. Robert W. Baird set a $325.00 target price on shares of VeriSign in a report on Friday, October 24th. JPMorgan Chase & Co. initiated coverage on VeriSign in a report on Tuesday, October 28th. They issued a "neutral" rating and a $270.00 price target on the stock. Zacks Research upgraded shares of VeriSign to a "hold" rating in a research report on Thursday, October 30th. Citigroup reissued a "buy" rating on shares of VeriSign in a report on Friday, October 24th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of VeriSign in a research note on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, VeriSign has an average rating of "Moderate Buy" and an average target price of $281.67.

View Our Latest Analysis on VeriSign

Insider Buying and Selling

In other VeriSign news, EVP Thomas C. Indelicarto sold 334 shares of the company's stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $244.52, for a total transaction of $81,669.68. Following the sale, the executive vice president directly owned 33,855 shares in the company, valued at $8,278,224.60. This represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Danny R. Mcpherson sold 2,500 shares of VeriSign 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 transaction, the executive vice president owned 28,577 shares of the company's stock, valued at approximately $6,769,033.99. This trade represents a 8.04% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 47,338 shares of company stock valued at $12,525,038. Insiders own 0.84% of the company's stock.

About VeriSign

(Free Report)

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.

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