VeriSign Inc EVP, Gen Counsel & Secretary Thomas Indelicarto Sells Company Shares
Thomas Indelicarto, the EVP, Gen Counsel & Secretary of VeriSign Inc, has sold 613 shares of the company on February 6, 2024, according to a recent SEC filing. The transaction was executed at a price of $199.05 per share, resulting in a total sale amount of $121,999.65.
VeriSign Inc, listed under the ticker symbol VRSN on the NASDAQ, is a global provider of domain name registry services and internet infrastructure, enabling internet navigation for many of the world's most recognized domain names. The company ensures the security, stability, and resiliency of key internet infrastructure and services, including the .com and .net domains, as well as two of the internet's root servers.
Over the past year, the insider has sold a total of 10,434 shares of VeriSign Inc and has not made any purchases of the stock. The recent sale by the insider is part of a trend observed over the past year, where there have been no insider buys and 63 insider sells for the company.
On the day of the sale, VeriSign Inc had a market capitalization of $20.448 billion, with the stock price closing at $199.05. The company's price-earnings ratio stood at 28.53, which is above the industry median of 26.43 but below the company's historical median price-earnings ratio.
The stock's price-to-GF-Value ratio was 0.81, with a GF Value of $246.87, indicating that VeriSign Inc was considered Modestly Undervalued according to the intrinsic value estimate developed by GuruFocus. The GF Value takes into account historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
The insider's recent transaction aligns with the overall selling trend among VeriSign Inc insiders over the past year, as depicted in the insider trend image above.
The GF Value image above provides a visual representation of VeriSign Inc's current valuation in relation to its intrinsic value, further supporting the stock's status as Modestly Undervalued.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
