The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Verisign Inc. shares valued at $116,660 were sold by Indelicarto Thomas C on Apr 02 ’24. At $190.00 per share, Indelicarto Thomas C sold 614 shares. The insider’s holdings dropped to 42,569 shares worth approximately $8.08 million following the completion of this transaction.
Also, Indelicarto Thomas C sold 613 shares, netting a total of over 117,923 in proceeds. Following the sale of shares at $192.37 each, the insider now holds 43,183 shares.
Before that, Indelicarto Thomas C had sold 613 shares from its account. In a trade valued at $117,727, the EVP, Gen Counsel & Secretary traded Verisign Inc. shares for $192.05 each. Upon closing the transaction, the insider’s holdings decreased to 613 shares, worth approximately $8.31 million.
As published in a research note from Robert W. Baird on July 11, 2023, Verisign Inc. [VRSN] has been rated down from an Outperform to a Neutral and the price target has been revised to $245 from $265. Analysts at Robert W. Baird upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in mid December. As of December 13, 2022, Citigroup has initiated its “Buy” rating for VRSN. Earlier on April 29, 2022, Robert W. Baird downgraded its rating. Their new recommendation was “a Neutral” for VRSN stock which previously was a “an Outperform”.
Analyzing VRSN Stock Performance
During the last five days, there has been a surge of approximately 1.47%. Over the course of the year, Verisign Inc. shares have dropped approximately -7.86%. Shares of the company reached a 52-week high of $208.04 on 01/24/24 and a 52-week low of $185.19 on 03/25/24. A 50-day SMA is recorded $192.81, while a 200-day SMA reached $203.89. Nevertheless, trading volume fell to 0.61 million shares from 0.66 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 188.67, which, if violated, would cause prices to drop to 187.56. In the upper region, resistance lies at 190.95. The next price resistance is at 192.12. RSI (Relative Strength Index) is 48.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.60, which suggests the price will decrease in the coming days. Percent R is at 36.43%, indicating low 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 Mar 28, 2024 jumping by 50000.0 shares to 1.75 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 1.7 million shares. A jump of 2.86% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.02 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.02.
