Microvast Holdings announces departure of chief financial officer
Kathleen A. Cote, a director at Verisign Inc . (NASDAQ:VRSN), has sold 3,000 shares of the company’s common stock. The transaction, which took place on February 18, 2025, was executed at a price of $230 per share, amounting to a total value of $690,000. Following this sale, Cote retains ownership of 27,346 shares in the company. The sale comes as Verisign, currently valued at $21.9 billion, trades near its 52-week high of $232.03, with an impressive gross profit margin of 87.7%. According to InvestingPro analysis, the stock appears to be fairly valued based on its Fair Value model. The transaction was disclosed in a filing with the Securities and Exchange Commission. For comprehensive insider trading analysis and 16 additional key insights about Verisign, subscribers can access the full company report on InvestingPro.
In other recent news, VeriSign reported a significant year-over-year growth in the fourth quarter, with 9.5 million new domain registrations, marking the highest growth since mid-2021. The company’s fiscal year 2025 revenue and operating income guidance surpassed expectations, as noted by Citi analyst Ygal Arounian, who raised the stock price target to $260. Baird also upgraded VeriSign’s rating from Neutral to Outperform, citing improved regulatory conditions and a bullish outlook on free cash flow. Additionally, Berkshire Hathaway (NYSE:BRKa) increased its investment in VeriSign, acquiring approximately 234,000 shares, which brings its total holdings to 13 million shares, valued at roughly $2.5 billion.
The renewal of VeriSign’s Cooperative Agreement with the National Telecommunications and Information Administration (NTIA) was confirmed, maintaining existing price constraints, which alleviated concerns about potential pricing changes. This agreement is crucial as it governs the pricing of .com domains, a significant part of VeriSign’s business. Furthermore, Citi identified potential tailwinds for domain trends improvement by 2025, including cyclical trends and enhanced marketing programs. The recent increase in .com domain registrations, ending a 16-month period without growth, supports the view that previous negative patterns were cyclical. These developments signal a positive outlook for VeriSign, with analysts maintaining a favorable stance on the company’s stock.
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