Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. VeriSign Inc. shares valued at $670,976 were sold by BIDZOS D JAMES on Aug 16. At $203.76 per share, BIDZOS D JAMES sold 3,293 shares. The insider’s holdings dropped to 682,601 shares worth approximately $120.63 million following the completion of this transaction.
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Also, BIDZOS D JAMES sold 12,707 shares, netting a total of over 2,541,962 in proceeds. Following the sale of shares at $200.04 each, the insider now holds 687,051 shares.
Before that, TOMLINSON TIMOTHY had sold 685 shares from its account. In a trade valued at $127,956, the Director traded VeriSign Inc. shares for $186.80 each. Upon closing the transaction, the insider’s holdings decreased to 685 shares, worth approximately $2.77 million.
As published in a research note from Robert W. Baird on April 29, 2022, VeriSign Inc. [VRSN] has been rated down from an Outperform to a Neutral and the price target has been revised to $210 from $260. This represents a 15.85% premium over Wednesday’s closing price. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in early December. Earlier on November 02, 2018, Robert W. Baird upgraded its rating. Their new recommendation was “an Outperform” for VRSN stock which previously was a “a Neutral”.
Analyzing VRSN’s Price Performance
On Wednesday, VeriSign Inc. [NASDAQ: VRSN] rose 1.14% to $176.72. The stock’s lowest price that day was $176.24, but it reached a high of $182.15 in the same session. During the last five days, there has been a drop of approximately -0.91%. Over the course of the year, VeriSign Inc. shares have dropped approximately -30.38%. Shares of the company reached a 52-week high of $253.89 on 01/03/22 and a 52-week low of $155.25 on 06/17/22. A 50-day SMA is recorded $187.83, while a 200-day SMA reached $200.90. Nevertheless, trading volume fell to 1.05 million shares from 0.91 million shares the previous day.
Support And Resistance Levels for VeriSign Inc. (VRSN)
According to the 24-hour chart, there is a support level at 174.59, which, if violated, would cause prices to drop to 172.46. In the upper region, resistance lies at 180.50. The next price resistance is at 184.28. RSI (Relative Strength Index) is 38.56 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.10, which suggests the price will decrease in the coming days. Percent R is at 75.84%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is VeriSign Inc. subject to short interest?
Stocks of VeriSign Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.42 million shares to 1.75 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.33 million shares. A jump of 24.0% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.5 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.5.
Which companies own the most shares of VeriSign Inc. (VRSN)?
According to Berkshire Hathaway, Inc. filings, the company currently owns 12,815,613 shares, which is about 11.95% of the total VRSN shares outstanding. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $1,839,415,963. BlackRock Fund Advisors reduced a -1.88% interest valued at $1.08 billion while Ninety One UK Ltd. purchased a 252,784 stake. A total of -59,700 shares of VeriSign Inc. were bought by Renaissance Technologies LLC during the quarter, and -140,090 were sold by SSgA Funds Management, Inc. In its current portfolio, Macquarie Investment Management B holds 2,880,280 shares valued at $524.84 million.
In terms of VeriSign Inc. share price expectations, FactSet research, analysts set an average price target of $205.00 in the next 12 months, up nearly 17.32% from the previous closing price of $174.73. Analysts anticipate VeriSign Inc. stock to reach $205.00 by 2022, with the lowest price target being $205.00. In spite of this, 3 analysts ranked VeriSign Inc. stock as a Hold at the end of 2022.