VeriSign Inc President & COO Todd B. Strubbe Sells 9,423 Shares
On February 20, 2024, President & COO Todd B. Strubbe sold 9,423 shares of VeriSign Inc (NASDAQ:VRSN), according to a recent SEC Filing. The transaction was executed at an average price of $193.21 per share, resulting in a total sale amount of approximately $1,820,000.
VeriSign Inc 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 17,423 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 60 insider sells.
As of the date of the insider's recent sale, VeriSign Inc had a market capitalization of $19.60 billion. The stock's price-earnings ratio stood at 24.53, which is below the industry median of 27.12 and also below the companys historical median price-earnings ratio.
The stock was trading at $193.21 on the day of the insider's sale, with a GuruFocus Value (GF Value) of $239.46. This results in a price-to-GF-Value ratio of 0.81, indicating that VeriSign Inc is considered modestly undervalued based on its GF Value.
The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on the company's past returns and growth, and future business performance estimates provided by Morningstar analysts.
Investors and analysts often monitor insider selling as it can provide insights into an insider's perspective on the value of the company's stock. However, insider transactions are not necessarily indicative of future stock performance and may be influenced by various factors, including personal financial requirements or portfolio diversification strategies.
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.
