Verisign, Inc. Has More Gas To Decrease After Today’s Bearish Options Activity

 Verisign, Inc. Has More Gas To Decrease After Today's Bearish Options Activity

In today’s session Verisign, Inc. (VRSN) recorded an unusually high (1,038) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious VRSN decrease. With 1,038 contracts traded and 10554 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: VRSN161021P00080000 closed last at: $2.81 or 13.5% down. About 345,135 shares traded hands. Verisign, Inc. (NASDAQ:VRSN) has declined 10.85% since March 2, 2016 and is downtrending. It has underperformed by 19.11% the S&P500.

Analysts await Verisign, Inc. (NASDAQ:VRSN) to report earnings on October, 27. They expect $0.79 EPS, up 9.72% or $0.07 from last year’s $0.72 per share. VRSN’s profit will be $83.48M for 24.65 P/E if the $0.79 EPS becomes a reality. After $0.87 actual EPS reported by Verisign, Inc. for the previous quarter, Wall Street now forecasts -9.20% negative EPS growth.

Verisign, Inc. (NASDAQ:VRSN) Ratings Coverage

Out of 4 analysts covering VeriSign (NASDAQ:VRSN), 1 rate it a “Buy”, 2 “Sell”, while 1 “Hold”. This means 25% are positive. VeriSign has been the topic of 8 analyst reports since July 27, 2015 according to StockzIntelligence Inc. As per Friday, October 2, the company rating was maintained by Cowen & Co. Topeka Capital Markets maintained the stock with “Buy” rating in Monday, July 27 report. The rating was downgraded by Citigroup on Tuesday, January 5 to “Sell”.

According to Zacks Investment Research, “Verisign, a global leader in domain names and Internet security, enables Internet navigation for many of the world’s most recognized domain names and provides protection for websites and enterprises around the world. Verisign ensures the security, stability and resiliency of key Internet infrastructure and services, including the .com and .net domains and two of the Internet’s root servers, as well as performs the root-zone maintainer functions for the core of the Internet’s Domain Name System (DNS). Verisign’s Security Services include intelligence-driven Distributed Denial of Service Protection, iDefense Security Intelligence and Managed DNS.”

Insitutional Activity: The institutional sentiment increased to 0.07 in Q2 2016. Its up 0.03, from 0.04 in 2016Q1. The ratio improved, as 41 funds sold all Verisign, Inc. shares owned while 0 reduced positions. 2 funds bought stakes while 1 increased positions. They now own 15.79 million shares or 13.09% more from 13.96 million shares in 2016Q1.
Canada Pension Plan Inv Board holds 3.00 million shares or 0.03% of its portfolio. Scotia Capital Inc reported 11.98 million shares or 0.61% of all its holdings. Pacad Invest Ltd holds 55,412 shares or 0.66% of its portfolio. The New York-based Retail Bank Of New York Mellon Corp has invested 0% in Verisign, Inc. (NASDAQ:VRSN).

Insider Transactions: Since April 29, 2016, the stock had 0 insider purchases, and 2 insider sales for $3.01 million net activity. 32,255 Verisign, Inc. (NASDAQ:VRSN) shares with value of $2.88 million were sold by BERKSHIRE HATHAWAY INC. Another trade for 1,477 shares valued at $125,988 was made by TOMLINSON TIMOTHY on Tuesday, August 2.

VeriSign, Inc. is a provider of domain name registry services and Internet security, enabling Internet navigation for domain names and providing protection for Websites and enterprises around the world . The company has a market cap of $8.23 billion. The Firm operates in Registry Services and Security Services segment. It has a 24.75 P/E ratio. The Company’s product suite also includes Security Services consisting of Distributed Denial of Service (DDoS) Protection Services, Verisign iDefense Security Intelligence Services (iDefense) and Managed Domain Name System (Managed DNS) Services.

VRSN Company Profile

VeriSign, Inc., incorporated on April 12, 1995, is a well-known provider of domain name registry services and Internet security, enabling Internet navigation for domain names and providing protection for Websites and enterprises around the world (Registry Services). The Firm operates in Registry Services and Security Services segment. The Company’s product suite also includes Security Services consisting of Distributed Denial of Service (DDoS) Protection Services, Verisign iDefense Security Intelligence Services (iDefense) and Managed Domain Name System (Managed DNS) Services. The Company’s Registry Services provides the security and resiliency of Internet infrastructure and services, including the .com and .net domains, approximately two of the Internet’s root servers, and operation of the root-zone maintainer functions for the core of the Internet’s Domain Name System (DNS). The Firm has activities inside, as well as outside the United States. The Company’s activities infrastructure consists of approximately three secure data centers in Dulles, Virginia; New Castle, Delaware; and Fribourg, Switzerland, as well as over 100 resolution sites around the world.

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