Is Selling Verisign, Inc. Here a Winning Strategy? Option Traders Hate The Stock

 Is Selling Verisign, Inc. Here a Winning Strategy? Option Traders Hate The Stock

In today’s session Verisign, Inc. (VRSN) recorded an unusually high (150) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the March, 2017 put, expecting serious VRSN decrease. With 150 contracts traded and 1194 open interest for the Mar, 17 contract, it seems this is a quite bearish bet. The option with symbol: VRSN170317P00080000 closed last at: $4.85 or 18.3% up. About 494,454 shares traded hands. Verisign, Inc. (NASDAQ:VRSN) has declined 10.23% since April 4, 2016 and is downtrending. It has underperformed by 11.32% the S&P500.

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. Topeka Capital Markets maintained the stock with “Buy” rating in Monday, July 27 report. The firm has “Hold” rating given on Friday, October 2 by Cowen & Co. 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.
Scotia Cap Incorporated reported 11.98 million shares or 0.61% of all its holdings. Bank Of New York Mellon Corporation accumulated 750,000 shares or 0% of the stock. Pacad Inv accumulated 55,412 shares or 0.66% of the stock. Canada Pension Plan Inv Board has invested 0.03% of its portfolio in Verisign, Inc. (NASDAQ:VRSN).

Insider Transactions: Since August 2, 2016, the stock had 0 buys, and 1 insider sale for $125,988 net activity. Shares for $125,988 were sold by TOMLINSON TIMOTHY.

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 $8.41 billion. The Firm operates in Registry Services and Security Services segment. It has a 24.07 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.

More important recent Verisign, Inc. (NASDAQ:VRSN) news were published by: Businesswire.com which released: “Verisign Reports Third Quarter 2016 Results” on October 27, 2016, also Streetinsider.com published article titled: “Verisign Inc. (VRSN) Reports Amendments to Agreements with DOC, ICANN”, Nasdaq.com published: “Verisign Inc. Reports 15% Increase In Q3 Earnings” on October 27, 2016. More interesting news about Verisign, Inc. (NASDAQ:VRSN) was released by: Gurufocus.com and their article: “Baron Funds Comments on Verisign Inc.” with publication date: October 21, 2016.

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