Insider Sale: EVP, General Counsel & Secretary Thomas Indelicarto Sells Shares of VeriSign ...
On July 29, 2024, Thomas Indelicarto, the Executive Vice President, General Counsel & Secretary of VeriSign Inc (NASDAQ:VRSN), sold 3,684 shares of the company. The transaction was executed at a price of $190 per share, as detailed in the SEC Filing. Following this sale, the insider now owns 37,774 shares of VeriSign Inc.
VeriSign Inc, a global provider of domain name registry services and internet infrastructure, ensures the security, stability, and resiliency of key internet infrastructure and services, including the .com and .net domains. The company's registry services allow individuals and organizations to establish their online identities.
Over the past year, Thomas Indelicarto has sold a total of 10,431 shares and has not purchased any shares. This recent transaction is part of a broader trend observed within the company, where there have been 40 insider sells and no insider buys over the past year.
The shares of VeriSign Inc were trading at $190 on the day of the sale, giving the company a market cap of approximately $18.25 billion. The price-earnings ratio of the company stands at 22.36, which is lower than the industry median of 26.88 and also below the company's historical median.
According to the GF Value, the intrinsic value of VeriSign Inc's stock is estimated at $232.65, suggesting that the stock is Modestly Undervalued with a price-to-GF-Value ratio of 0.82.
The GF Value is calculated based on historical trading multiples like the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted for the company's past performance and expected future business outcomes.
This sale by the insider at VeriSign Inc provides an interesting data point for investors tracking insider behaviors and company valuation metrics.
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