Recent Insider Activity Suggests Potential Gains for VeriSign Inc. (VRSN)


VeriSign Inc.’s recently made public that its EVP- Engineering, Ops. & CSO McPherson Danny R unloaded Company’s shares for reported $25086.0 on Sep 15. In the deal valued at $200.69 per share,125 shares were sold. As a result of this transaction, McPherson Danny R now holds 25,173 shares worth roughly $ 5.03 million.

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Then, McPherson Danny R sold 125 shares, generating $26,020 in total proceeds. Upon selling the shares at $208.16, the EVP- Engineering, Ops. & CSO now owns 25,298 shares.

Before that, McPherson Danny R sold 125 shares. VeriSign Inc. shares valued at $25,995 were divested by the EVP- Engineering, Ops. & CSO at a price of $207.96 per share. As a result of the transaction, McPherson Danny R now holds 25,788 shares, worth roughly $5.15 million.

Robert W. Baird downgraded its VeriSign Inc. [VRSN] rating to a Neutral from a an Outperform in a research note published on Monday, July 11, 2023; the price target was decreased to $245 from $265. PT values the company’s stock at a premium of 18.48 to its Monday closing price.

Price Performance Review of VRSN

On Monday, VeriSign Inc. [NASDAQ:VRSN] saw its stock fall -0.50% to $199.72. On the same session, the stock had its day’s lowest price of $199.48, but rose to a high of $202.04. Over the last five days, the stock has lost -1.26%. VeriSign Inc. shares have fallen nearly -2.78% since the year began. Nevertheless, the stocks have risen 14.37% over the past one year. While a 52-week high of $229.72 was reached on 05/22/23, a 52-week low of $169.24 was recorded on 03/15/23. SMA at 50 days reached $207.64, while 200 days put it at $210.75. A total of 0.54 million shares were traded, compared to the trading of 1.74 million shares in the previous session.

Levels Of Support And Resistance For VRSN Stock

The 24-hour chart illustrates a support level at 198.79, which if violated will result in even more drops to 197.85. On the upside, there is a resistance level at 201.35. A further resistance level may holdings at 202.97. The Relative Strength Index (RSI) on the 14-day chart is 38.59, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.76, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 88.74%. Stochastics %K at 15.83% 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 Aug 30, 2023, dropping by 69820.0 shares to a total of 0.83 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 0.9 million shares. There was a decline of -8.37%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.93% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.19.

According to FactSet, VeriSign Inc.’s share price will average $236.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 17.08 percent from its previous closing price of $200.72. Analysts expect VeriSign Inc. stock to reach the higher price of $243.00, while the lowest price estimate is $230.00. However, 5 analysts have rated VRSN stock as a Hold in their predictions for 2023.


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