A company insider recently sold 614 shares of VeriSign Inc. [VRSN]. Should You also Consider to Sale?


VeriSign Inc.’s recent filing unveils that its EVP, Gen Counsel & Secretary Indelicarto Thomas C unloaded Company’s shares for reported $0.12 million on Mar 07. In the deal valued at $200.00 per share,614 shares were sold. As a result of this transaction, Indelicarto Thomas C now holds 45,799 shares worth roughly $ 8.8 million.

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Then, Buchalter Yehuda Ari sold 1,500 shares, generating $297,750 in total proceeds. Upon selling the shares at $198.50, the Director now owns 3,349 shares.

Before that, BIDZOS D JAMES sold 2,000 shares. VeriSign Inc. shares valued at $406,441 were divested by the Exec. Chairman & CEO at a price of $203.22 per share. As a result of the transaction, BIDZOS D JAMES now holds 669,810 shares, worth roughly $128.64 million.

Robert W. Baird upgraded its VeriSign Inc. [VRSN] rating to an Outperform from a a Neutral in a research note published on Tuesday, December 15, 2022; the price target was increased to $265 from $216. PT values the company’s stock at a premium of 27.52 to its Tuesday closing price. A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in mid December with a ‘”a Buy”‘ rating. Robert W. Baird also remained covering VRSN and has decreased its forecast on April 29, 2022 with a “Neutral” recommendation from previously “an Outperform” rating. JP Morgan revised its rating on December 09, 2020. It rated VRSN as “an Overweight” which previously was an “a Neutral”.

Price Performance Review of VRSN

On Tuesday, VeriSign Inc. [NASDAQ:VRSN] saw its stock jump 0.42% to $192.06. On the same session, the stock had its day’s lowest price of $190.75, but rose to a high of $194.03. Over the last five days, the stock has lost -2.98%. VeriSign Inc. shares have fallen nearly -6.51% since the year began. Nevertheless, the stocks have fallen -5.93% over the past one year. While a 52-week high of $228.80 was reached on 02/02/23, a 52-week low of $155.25 was recorded on 03/13/23. SMA at 50 days reached $207.59, while 200 days put it at $190.72. A total of 0.53 million shares were traded, compared to the trading of 0.49 million shares in the previous session.

Levels Of Support And Resistance For VRSN Stock

The 24-hour chart illustrates a support level at 190.53, which if violated will result in even more drops to 189.00. On the upside, there is a resistance level at 193.81. A further resistance level may holdings at 195.56. The Relative Strength Index (RSI) on the 14-day chart is 30.78, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -5.36, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 83.43%. Stochastics %K at 10.52% indicates the stock is a buying.

How much short interest is there in VeriSign Inc.?

A steep rise in short interest was recorded in VeriSign Inc. stocks on Jan 12, 2023, dropping by -0.59 million shares to a total of 1.22 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 1.81 million shares. There was a decline of -48.36%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.33% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.41.

VeriSign Inc. [VRSN] – Who Are The Largest Shareholders?

In filings from Berkshire Hathaway, Inc., it is revealed that the company now owns 12,815,613 shares, or roughly 12.22% of the outstanding VRSN shares. Additionally, The Vanguard Group, Inc. increased 0.20% of its stake after which the total value it holdings stand at $1,970,048,047, while BlackRock Fund Advisors reduced -5.92% of its stake to hold $1.09 billion in the firm. Over the last quarter, Ninety One UK Ltd. sold -153,744 shares of VeriSign Inc., while SSgA Funds Management, Inc. sold -143,241 shares. At present, Renaissance Technologies LLC is holding 3,085,390 shares valued at $607.3 million. Macquarie Investment Management B owned 3,068,988 shares of the company at the time of its most recent 13F filing, worth $604.07 million.

However, 4 analysts have rated VRSN stock as an Overweight in their predictions for 2023.


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