VeriSign (VRSN) is Downgraded by Citigroup to Sell

VeriSign (VRSN) is Downgraded by Citigroup to Sell , according to the research report released to the investors. Earlier the firm had a rating of Neutral on the company shares. The shares recommendation by the Brokerage Firm was released on Jan-5-2016.

VeriSign, Inc. is up 22.32% in the last 3-month period. Year-to-Date the stock performance stands at 53.26%.

VeriSign, Inc. (NASDAQ:VRSN) has lost 0.48% during the past week and dropped 6.19% in the last 4 weeks. The shares have outperformed the S&P 500 by 0.35% in the past week but underperformed the index by 3.99% in the last 4 weeks.

Shares of VeriSign, Inc. (NASDAQ:VRSN) ended Thursday session in red amid volatile trading. The shares closed down 0.78 points or 0.88% at $87.36 with 493,945 shares getting traded. Post opening the session at $88.11, the shares hit an intraday low of $87.35 and an intraday high of $88.66 and the price vacillated in this range throughout the day. The company has a market cap of $9,741 million and the number of outstanding shares have been calculated to be 111,507,162 shares. The 52-week high of VeriSign, Inc. (NASDAQ:VRSN) is $93.94 and the 52-week low is $53.48.

Currently the company Insiders own 0.78% of VeriSign, Inc. shares according to the proxy statements. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, Gorelick Jamie S, director of Verisign Inc/Ca, had purchased 1,000 shares on April 29, 2015. The total value of the transaction was $64,190. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.

VeriSign, Inc. (VeriSign) is a provider of Internet infrastructure services. The Company provides network confidence and availability for mission-critical Internet services, such as domain name registry services and infrastructure assurance services. Its service capabilities enable real-time name resolution for a number of global top level domains (TLDs), enable domain name registration through registrars, and provide security intelligence and cloud-based network availability services to enterprise customers. It has one reportable segment is Naming Services, which consists of Registry Services and Network Intelligence and Availability (NIA) Services. It has operations inside as well as outside the United States (U.S.). Registry Services operates the authoritative directory of all .com, .net, .cc, .tv, and .name domain names and the back-end systems for all .gov, .jobs and .edu domain names.