Verisign, Inc. (NASDAQ:VRSN) Short Interest Update

Verisign, Inc. (NASDAQ:VRSN) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 1,400,000 shares, a growth of 10.2% from the August 30th total of 1,270,000 shares. Based on an average daily volume of 612,200 shares, the short-interest ratio is currently 2.3 days. Approximately 1.2% of the shares of the stock are short sold.

A number of equities research analysts recently weighed in on the stock. BidaskClub downgraded shares of Verisign from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research raised shares of Verisign from a “hold” rating to a “buy” rating and set a $201.00 price target for the company in a research note on Sunday, November 3rd. ValuEngine downgraded shares of Verisign from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Robert W. Baird upped their target price on shares of Verisign from $210.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $212.00.

In other news, Director Timothy Tomlinson sold 295 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $190.57, for a total transaction of $56,218.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Verisign by 0.9% in the second quarter. Vanguard Group Inc. now owns 11,556,414 shares of the information services provider’s stock valued at $2,417,141,000 after buying an additional 100,878 shares during the period. BlackRock Inc. boosted its holdings in Verisign by 2.2% during the second quarter. BlackRock Inc. now owns 9,860,382 shares of the information services provider’s stock worth $2,062,398,000 after purchasing an additional 214,629 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Verisign by 4.9% during the second quarter. Renaissance Technologies LLC now owns 7,688,276 shares of the information services provider’s stock worth $1,608,080,000 after purchasing an additional 357,400 shares during the last quarter. Invesco Ltd. boosted its holdings in Verisign by 2.1% during the second quarter. Invesco Ltd. now owns 1,741,951 shares of the information services provider’s stock worth $364,346,000 after purchasing an additional 35,178 shares during the last quarter. Finally, FMR LLC boosted its holdings in Verisign by 3.9% during the first quarter. FMR LLC now owns 1,585,016 shares of the information services provider’s stock worth $287,776,000 after purchasing an additional 60,107 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Shares of NASDAQ:VRSN opened at $185.89 on Friday. The company has a market capitalization of $21.90 billion, a PE ratio of 35.53 and a beta of 1.04. Verisign has a 52 week low of $138.77 and a 52 week high of $221.78. The company has a 50 day moving average price of $186.95 and a two-hundred day moving average price of $199.59.

Verisign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, October 24th. The information services provider reported $1.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.05. The company had revenue of $308.42 million during the quarter, compared to analysts’ expectations of $308.34 million. Verisign had a net margin of 52.60% and a negative return on equity of 44.38%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.23 earnings per share. As a group, equities analysts forecast that Verisign will post 5.12 earnings per share for the current year.

About Verisign

VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.

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