In a recent transaction, Thomas C. Indelicarto, Executive Vice President, General Counsel, and Secretary of VeriSign Inc. (NASDAQ:VRSN), sold 2,456 shares of the company's common stock. The transaction took place on September 27, 2024, with the stock being sold at a price of $190.00 per share, resulting in a total value of $466,640.
VeriSign, a global provider of domain name registry services and internet infrastructure, sees regular trading activity from its executives as part of their personal financial management. The sale by Indelicarto is part of such activities, which are reported to the Securities and Exchange Commission.
Following the transaction, Indelicarto's holdings in VeriSign stock decreased to 34,821 shares, reflecting his confidence in the company's ongoing business and growth prospects. VeriSign has not made any official statements regarding the transaction, and it remains a routine disclosure as required by SEC regulations.
Investors and market watchers often monitor insider transactions as they can provide insights into an executive's view of the company's future performance. However, such sales can also be motivated by a variety of personal financial considerations, and not necessarily indicative of the company's operational health.
The details of the transaction have been made publicly available through the SEC's filing system, offering transparency into the trading activities of VeriSign's executives.
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VRSN
0. Management has been aggressively buying back shares
VRSN
1. Impressive gross profit margins
VRSN
2. Trading at a low P/E ratio relative to near-term earnings growth
VRSN
3. Stock generally trades with low price volatility
VRSN
4. Short term obligations exceed liquid assets
VRSN
5. Operates with a moderate level of debt
VRSN
6. Trading at a high revenue valuation multiple
VRSN
7. Analysts predict the company will be profitable this year
VRSN
8. Profitable over the last twelve months
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9. Does not pay a dividend to shareholders
InvestingPro Data:
Market Cap (Adjusted) -: 18.52B USD
VRSN
P/E Ratio -: 22.67
VRSN
P/E Ratio (Adjusted) LTM2024.Q2 -: 21.91
VRSN
PEG Ratio LTM2024.Q2 -: 0.94
VRSN
Price / Book LTM2024.Q2 -: -10.21
VRSN
Revenue LTM2024.Q2 -: 1528.1M USD
VRSN
Revenue Growth LTM2024.Q2 -: 4.49 %
VRSN
Revenue Growth (Quarterly) FY2024.Q2 -: 4.06 %
VRSN
Gross Profit LTM2024.Q2 -: 1334.8M USD
VRSN
Gross Profit Margin LTM2024.Q2 -: 87.35 %
VRSN
Operating Income, Adjusted LTM2024.Q2 -: 1035.7M USD
VRSN
Operating Income Margin LTM2024.Q2 -: 67.78 %
VRSN
EBIT LTM2024.Q2 -: 1035.7M USD
VRSN
EBITDA LTM2024.Q2 -: 1076M USD
VRSN
EBITDA Growth LTM2024.Q2 -: 5.67 %
VRSN
Basic EPS (Cont. Ops) LTM2024.Q2 -: 8.36 USD
VRSN
Diluted EPS (Cont. Ops) LTM2024.Q2 -: 8.36 USD
VRSN
Return on Assets LTM2024.Q2 -: 53.18 %
VRSN
1 Week Price Total Return Y2024.D274 -: 4.43 %
VRSN
1 Month Price Total Return Y2024.D274 -: 3.67 %
VRSN
3 Month Price Total Return Y2024.D274 -: 7.22 %
VRSN
6 Month Price Total Return Y2024.D274 -: 0.6 %
VRSN
YTD Price Total Return Y2024.D274 -: -7.44 %
VRSN
1 Year Price Total Return Y2024.D274 -: -5.87 %
VRSN
Price % of 52 Week High -: 85.99 %
VRSN
Price, Previous Close -: 190.64 USD
VRSN
Average Daily Volume (3m) Y2024.D274 -: 0.68M USD
VRSN
Next Earnings Date -: 2024-10-24
VRSN
Fair Value (Analyst Targets) Y2024.D274 -: 199.6 USD
VRSN
InvestingPro Fair Value -: 190.93 USD
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Article to enrich:
In a recent transaction, Thomas C. Indelicarto, Executive Vice President, General Counsel, and Secretary of VeriSign Inc. (NASDAQ:VRSN), sold 2,456 shares of the company's common stock. The transaction took place on September 27, 2024, with the stock being sold at a price of $190.00 per share, resulting in a total value of $466,640.
VeriSign, a global provider of domain name registry services and internet infrastructure, sees regular trading activity from its executives as part of their personal financial management. The sale by Indelicarto is part of such activities, which are reported to the Securities and Exchange Commission.
Following the transaction, Indelicarto's holdings in VeriSign stock decreased to 34,821 shares, reflecting his confidence in the company's ongoing business and growth prospects. VeriSign has not made any official statements regarding the transaction, and it remains a routine disclosure as required by SEC regulations.
Investors and market watchers often monitor insider transactions as they can provide insights into an executive's view of the company's future performance. However, such sales can also be motivated by a variety of personal financial considerations, and not necessarily indicative of the company's operational health.
The details of the transaction have been made publicly available through the SEC's filing system, offering transparency into the trading activities of VeriSign's executives.
In other recent news, VeriSign Inc. has seen a series of developments. The company reported a 4.1% increase in its second quarter 2024 revenue, alongside growth in operating income and earnings per share. However, it also experienced a 1.8 million decrease in its domain name base, primarily due to shifts in U.S. registrar strategies and a weaker market in China. VeriSign also executed a significant share repurchase program, buying back 2.2 million shares for $388 million, and authorized an additional $1.11 billion for future repurchases.
Citi reaffirmed its Buy rating on VeriSign with a steady price target of $215.00, suggesting confidence in the company's ongoing operations despite debates surrounding pricing and domain volume growth. The company is also engaged in discussions with the National Telecommunications and Information Administration (NTIA) regarding the pricing of .com domains and the overall health of the ecosystem. These are recent developments in VeriSign's operations, with more updates expected in the near future.
VeriSign is preparing for the renewal of the .com registry, a process that is deemed crucial for the company's operations. The Internet Corporation for Assigned Names and Numbers (ICANN) has acknowledged that VeriSign has met all necessary criteria for the renewal, and the current terms, including pricing provisions, have been left unaltered. This process is seen as a favorable outcome for VeriSign, with the expectation that the renewal will proceed without significant changes.
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