RESTON, Va.—Danny R. McPherson, Executive Vice President of Technology and Chief Security Officer at Verisign Inc . (NASDAQ:VRSN), recently sold 2,092 shares of the company’s common stock. The shares were sold on December 2, 2024, at an average price of $192.4343, generating a total of $402,572.
Following this transaction, McPherson retains direct ownership of 26,157 shares of Verisign. The sale was executed in multiple transactions with prices ranging from $192.39 to $192.435 per share.
In other recent news, VeriSign has experienced a series of noteworthy events. The company has seen a reaffirmation of a Buy rating from Citi, following the renewal of its Cooperative Agreement with the National Telecommunications and Information Administration (NTIA). This renewal, which maintains existing price constraints, was viewed as a positive development for VeriSign. In addition, the company has successfully renewed its .com Registry Agreement with the Internet Corporation for Assigned Names and Numbers (ICANN), which will take effect from December 1, 2024. This renewed agreement introduces provisions to enhance the security and stability of the .com Top-Level Domain.
On the financial front, VeriSign reported a modest revenue growth of 3.8% to $391 million in its third-quarter 2024 results, alongside an earnings per share increase of 13.1% to $2.07. The company maintains a stable liquidity position with $645 million in cash and has repurchased 1.7 million shares for $301 million during the quarter. For the full year of 2024, VeriSign expects revenue to be between $1.554 billion and $1.559 billion, with operating income projected between $1.054 billion and $1.059 billion. These developments highlight VeriSign's financial strategies amidst recent market challenges.
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