VeriSign (VRSN)
Market Price (10/26/2026): $299.0 | Market Cap: $26.8 BilInvestor Relations Sector: Information Technology | Industry: Internet Services & Infrastructure
VeriSign (VRSN)
Market Price (10/26/2026): $299.0Market Cap: $26.8 BilSector: Information TechnologyIndustry: Internet Services & Infrastructure
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 68% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 61%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 59% Stock buyback supportStock Buyback 3Y Total is 3.0 Bil Low stock price volatilityVol 12M is 29% Megatrend and thematic driversMegatrends include Cybersecurity, and 5G & Advanced Connectivity. Themes include Network Security, and Telecom Infrastructure. | Trading close to highsDist 52W High is -2.8%, Dist 3Y High is -2.8% Weak multi-year price returns3Y Excs Rtn is -33% | Key risksVRSN key risks include [1] its critical dependence on exclusive ICANN agreements, Show more. |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 68% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 61%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 59% |
| Stock buyback supportStock Buyback 3Y Total is 3.0 Bil |
| Low stock price volatilityVol 12M is 29% |
| Megatrend and thematic driversMegatrends include Cybersecurity, and 5G & Advanced Connectivity. Themes include Network Security, and Telecom Infrastructure. |
| Trading close to highsDist 52W High is -2.8%, Dist 3Y High is -2.8% |
| Weak multi-year price returns3Y Excs Rtn is -33% |
| Key risksVRSN key risks include [1] its critical dependence on exclusive ICANN agreements, Show more. |
Qualitative Assessment
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VeriSign (VRSN) stock has gained about 20% since 6/30/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Performance and Shareholder Return Program. VeriSign reported fiscal Q2 2026 revenue of $434.6 million, up 6.0% year-over-year, surpassing analyst expectations of $433.2 million, and diluted earnings per share (EPS) of $2.38, which topped the consensus estimate of $2.36. Additionally, the company's Board of Directors authorized a new $1.50 billion common stock repurchase program on July 23, 2026, signaling a strong commitment to shareholder returns.
2. Record New Domain Registrations and Robust Domain Name Base Expansion in Fiscal Q3 2026. VeriSign achieved a record 13.1 million new domain registrations in fiscal Q3 2026, marking a significant 24% increase compared to the same period in 2025. This strong performance contributed to the combined .com and .net domain name base growing to 182.5 million names by the end of fiscal Q3 2026, representing a 6.1% increase year-over-year. Management attributed this growth partly to the tailwinds from artificial intelligence (AI) tools facilitating content and website creation.
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VeriSign (VRSN) stock has gained about 20% since 6/30/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Performance and Shareholder Return Program. VeriSign reported fiscal Q2 2026 revenue of $434.6 million, up 6.0% year-over-year, surpassing analyst expectations of $433.2 million, and diluted earnings per share (EPS) of $2.38, which topped the consensus estimate of $2.36. Additionally, the company's Board of Directors authorized a new $1.50 billion common stock repurchase program on July 23, 2026, signaling a strong commitment to shareholder returns.
2. Record New Domain Registrations and Robust Domain Name Base Expansion in Fiscal Q3 2026. VeriSign achieved a record 13.1 million new domain registrations in fiscal Q3 2026, marking a significant 24% increase compared to the same period in 2025. This strong performance contributed to the combined .com and .net domain name base growing to 182.5 million names by the end of fiscal Q3 2026, representing a 6.1% increase year-over-year. Management attributed this growth partly to the tailwinds from artificial intelligence (AI) tools facilitating content and website creation.
3. Increased Full-Year Fiscal 2026 Guidance. Following strong performance, VeriSign raised and narrowed its full-year fiscal 2026 guidance for domain name base growth to a range of 6.5% to 7.0%, up from the previous guidance of 5.2% to 6.0%. The company also increased its full-year fiscal 2026 revenue guidance to a range of $1.755 billion to $1.760 billion, up from $1.745 billion to $1.755 billion.
4. Strategic Growth Initiatives and .web Top-Level Domain Launch. VeriSign announced the delegation of the .web generic top-level domain (gTLD) into the DNS root zone in July 2026, with a staged launch calendar including a Sunrise phase in mid-December and General Availability thereafter. The company also introduced Verisign Informed™, a high-assurance validation service designed to enhance trust in digital certificate transactions.
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Stock Movement Drivers
Fundamental Drivers
The 19.7% change in VRSN stock from 6/30/2026 to 10/24/2026 was primarily driven by a 16.5% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10242026 | Change |
|---|---|---|---|
| Stock Price ($) | 250.82 | 300.32 | 19.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,683 | 1,732 | 2.9% |
| Net Income Margin (%) | 50.0% | 49.1% | -1.8% |
| P/E Multiple | 27.3 | 31.8 | 16.5% |
| Shares Outstanding (Mil) | 92 | 90 | 1.7% |
| Cumulative Contribution | 19.7% |
Market Drivers
6/30/2026 to 10/24/2026| Return | Correlation | |
|---|---|---|
| VRSN | 19.7% | |
| Market (SPY) | 1.8% | 11.8% |
| Sector (XLK) | -3.8% | -17.5% |
Fundamental Drivers
The 21.6% change in VRSN stock from 3/31/2026 to 10/24/2026 was primarily driven by a 15.3% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 10242026 | Change |
|---|---|---|---|
| Stock Price ($) | 246.98 | 300.32 | 21.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,657 | 1,732 | 4.5% |
| Net Income Margin (%) | 49.8% | 49.1% | -1.6% |
| P/E Multiple | 27.6 | 31.8 | 15.3% |
| Shares Outstanding (Mil) | 92 | 90 | 2.4% |
| Cumulative Contribution | 21.6% |
Market Drivers
3/31/2026 to 10/24/2026| Return | Correlation | |
|---|---|---|
| VRSN | 21.6% | |
| Market (SPY) | 17.2% | 0.8% |
| Sector (XLK) | 38.0% | -15.3% |
Fundamental Drivers
The 8.8% change in VRSN stock from 9/30/2025 to 10/24/2026 was primarily driven by a 8.4% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 9302025 | 10242026 | Change |
|---|---|---|---|
| Stock Price ($) | 276.13 | 300.32 | 8.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,598 | 1,732 | 8.4% |
| Net Income Margin (%) | 50.0% | 49.1% | -1.9% |
| P/E Multiple | 32.4 | 31.8 | -1.7% |
| Shares Outstanding (Mil) | 94 | 90 | 4.1% |
| Cumulative Contribution | 8.8% |
Market Drivers
9/30/2025 to 10/24/2026| Return | Correlation | |
|---|---|---|
| VRSN | 8.8% | |
| Market (SPY) | 15.0% | 3.1% |
| Sector (XLK) | 30.5% | -10.2% |
Fundamental Drivers
The 51.0% change in VRSN stock from 9/30/2023 to 10/24/2026 was primarily driven by a 18.4% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 9302023 | 10242026 | Change |
|---|---|---|---|
| Stock Price ($) | 198.92 | 300.32 | 51.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,462 | 1,732 | 18.4% |
| Net Income Margin (%) | 48.8% | 49.1% | 0.6% |
| P/E Multiple | 29.0 | 31.8 | 9.9% |
| Shares Outstanding (Mil) | 104 | 90 | 15.3% |
| Cumulative Contribution | 51.0% |
Market Drivers
9/30/2023 to 10/24/2026| Return | Correlation | |
|---|---|---|
| VRSN | 51.0% | |
| Market (SPY) | 83.9% | 23.4% |
| Sector (XLK) | 127.5% | 10.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| VRSN Return | 17% | -19% | 0% | 0% | 18% | 27% | 43% |
| Peers Return | 26% | -52% | 57% | -9% | 28% | 59% | 80% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| VRSN Win Rate | 58% | 33% | 50% | 50% | 67% | 60% | |
| Peers Win Rate | 54% | 28% | 63% | 45% | 58% | 58% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| VRSN Max Drawdown | -13% | -38% | -16% | -18% | -24% | -20% | |
| Peers Max Drawdown | -36% | -59% | -37% | -40% | -40% | -39% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NET, AKAM, FSLY, VRSN, DOCN. See VRSN Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/23/2026 (YTD)
How Low Can It Go
| Event | VRSN | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -10.2% | -6.7% |
| % Gain to Breakeven | 11.3% | 7.1% |
| Time to Breakeven | 24 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -37.9% | -24.5% |
| % Gain to Breakeven | 61.1% | 32.4% |
| Time to Breakeven | 1015 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -28.4% | -33.7% |
| % Gain to Breakeven | 39.7% | 50.9% |
| Time to Breakeven | 30 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -15.1% | -19.2% |
| % Gain to Breakeven | 17.8% | 23.8% |
| Time to Breakeven | 9 days | 105 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -18.5% | -17.9% |
| % Gain to Breakeven | 22.7% | 21.8% |
| Time to Breakeven | 36 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -55.1% | -53.4% |
| % Gain to Breakeven | 122.7% | 114.4% |
| Time to Breakeven | 806 days | 1085 days |
In The Past
VeriSign's stock fell 0.0% during the 2025 US Tariff Shock. Such a loss loss requires a 0.0% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | VRSN | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -37.9% | -24.5% |
| % Gain to Breakeven | 61.1% | 32.4% |
| Time to Breakeven | 1015 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -28.4% | -33.7% |
| % Gain to Breakeven | 39.7% | 50.9% |
| Time to Breakeven | 30 days | 140 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -55.1% | -53.4% |
| % Gain to Breakeven | 122.7% | 114.4% |
| Time to Breakeven | 806 days | 1085 days |
In The Past
VeriSign's stock fell 0.0% during the 2025 US Tariff Shock. Such a loss loss requires a 0.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About VeriSign (VRSN)
VeriSign (VRSN) is a critical internet infrastructure company that provides foundational services enabling global internet navigation, security, stability, and resiliency. At its core, the company operates as a domain name registry, managing the authoritative databases that allow internet users to find websites associated with specific domain names. It also serves as a root zone maintainer and operates two of the 13 global internet root servers, making it a pivotal player in the internet's core architecture.
The company's primary services include offering registration and authoritative resolution for the widely used .com and .net top-level domains, which are essential for global e-commerce and countless online businesses worldwide. Additionally, VeriSign provides back-end systems for other important domain names such as .cc, .gov, .edu, and .name, along with distributed server, networking, security, and data integrity services. Its customers are effectively anyone who relies on these critical domains for their online presence, from individuals and businesses to government and educational institutions globally.
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Here are 1-3 brief analogies to describe VeriSign:
1. The Experian for internet domain names: VeriSign acts like a credit bureau for website addresses, managing the official records for .com and .net domains and ensuring they can always be found by users.
2. A critical utility company for the internet's addressing system: Similar to how a power grid operator ensures electricity, VeriSign provides essential, always-on infrastructure to keep the internet's navigation for .com and .net running smoothly and securely.
3. A title company for .com and .net internet properties: VeriSign verifies ownership and guarantees the stability and clear access for the most common website addresses, much like a title company ensures clear ownership for physical real estate.
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- Domain Name Registry Services: VeriSign provides registration and authoritative resolution services for various top-level domains, including .com, .net, .cc, .gov, .edu, and .name.
- Internet Infrastructure Services: The company operates root zone maintainer services and two of the internet's 13 root servers, ensuring the security, stability, and resiliency of global internet navigation.
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VeriSign (VRSN) operates as a domain name registry, meaning its primary customers are not individuals or end-users directly. Instead, VeriSign sells its services to domain name registrars, who then sell domain names to businesses and individuals.
Based on this model, VeriSign's major customers are the large domain name registrars around the world. While VeriSign doesn't typically disclose a specific list of its largest customers, prominent registrars that rely on VeriSign's registry services for .com and .net domains include:
- GoDaddy Inc. (Symbol: GDDY)
- Alphabet Inc. (Symbol: GOOGL) - through its Google Domains service
- Tucows Inc. (Symbol: TCX) - through its OpenSRS wholesale domain platform
- Companies that own other major registrars like Namecheap, Domain.com, Bluehost, and Register.com. (Note: Many of these are part of larger, often privately held, corporations.)
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D. James Bidzos Executive Chairman, President, and Chief Executive Officer
D. James Bidzos is the founder of VeriSign, established in 1995 as a spin-off from RSA Security Inc.. He is recognized as an internet and security industry pioneer, having been instrumental in building RSA Security into an early leader for authentication and encryption, and launching VeriSign to develop the digital certificate infrastructure for internet commerce. Prior to VeriSign, Mr. Bidzos served as President and CEO of RSA Security from 1986 to 1999 and then as its Vice Chairman from 1999 to 2002. He began his career at IBM in the 1970s. He was re-appointed President and Chief Executive Officer of VeriSign on August 1, 2011, and resumed the office of President in April 2024.
John Calys Executive Vice President and Chief Financial Officer
John Calys serves as the Executive Vice President and Chief Financial Officer, succeeding George E. Kilguss III, whose retirement was effective May 31, 2025. Mr. Calys joined VeriSign in December 2010 and has over 35 years of experience in financial management and business leadership. His previous roles at VeriSign include Senior Vice President, Global Controller, and Chief Accounting Officer. He also served as interim Chief Financial Officer during 2011 and 2012.
Danny McPherson Executive Vice President, Technology and Chief Security Officer
Danny McPherson is the Executive Vice President, Technology and Chief Security Officer at VeriSign. His role is considered crucial given the company's position as a core provider of domain name system (DNS) security and infrastructure.
Thomas Indelicarto Executive Vice President, General Counsel and Secretary
Thomas Indelicarto holds the position of Executive Vice President, General Counsel, and Secretary at VeriSign.
Dr. Burt Kaliski Jr. Senior Vice President and Chief Technology Officer
Dr. Burt Kaliski Jr. is the Senior Vice President and Chief Technology Officer for VeriSign.
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Here are the key risks to VeriSign's business:
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Regulatory and Contractual Dependence: VeriSign's core business and revenue are heavily reliant on its long-term agreements with the Internet Corporation for Assigned Names and Numbers (ICANN) and the U.S. Department of Commerce, particularly for the operation of the .com and .net top-level domains. Approximately 85% of its revenue is generated from these domain services. Any unfavorable changes to these agreements, including pricing mechanisms or renewal terms, or increased regulatory scrutiny and intervention, could significantly impact VeriSign's financial performance and operational stability.
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Cybersecurity Threats and Infrastructure Vulnerability: As a critical provider of internet infrastructure and operator of root servers, VeriSign faces constant and evolving cybersecurity threats. Sophisticated cyber-attacks, such as advanced persistent threats and Distributed Denial of Service (DDoS) attacks, could disrupt its services, compromise data integrity, and damage its reputation. The increasing use of AI-based tools by attackers further complicates defense efforts, requiring continuous and significant investment in cybersecurity measures to protect its systems and maintain the stability and resiliency of the internet.
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Technological Evolution and Shifting Internet Behaviors: The internet landscape is dynamic, with continuous technological evolution and changes in user preferences. There is a risk that shifts in internet behavior towards alternative online identity establishments, such as social media platforms, e-commerce sites, or emerging alternative namespaces and AI-driven content discovery, could reduce the demand for traditional domain names. Additionally, new rounds of generic Top-Level Domains (gTLDs) could introduce competitive alternatives to .com, potentially impacting VeriSign's long-term registration growth and market position.
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VeriSign (VRSN) is anticipated to experience future revenue growth over the next 2-3 years, driven by several key factors related to its core domain name registry services and strategic initiatives.
The expected drivers of future revenue growth for VeriSign include:
- Continued Growth in the .com and .net Domain Name Base: VeriSign's primary revenue stream comes from the registration and renewal of .com and .net domain names. The company has consistently reported year-over-year increases in its domain name base. For instance, the .com and .net domain name base reached 171.9 million in Q3 2025, marking a 1.4% increase from the prior year, with 10.6 million new domain registrations during the quarter. By the end of fiscal 2025, the .com and .net domain name base had grown to 173.5 million, a 2.6% year-over-year increase.
- Periodic Price Increases for Domain Name Services: VeriSign has historically leveraged its pricing power, and future revenue growth is expected to benefit from planned rate increases. Notably, a high single-digit rate increase for domain services is slated to begin in September 2026, which is expected to contribute to revenue in the latter half of that year.
- Stable to Improving Renewal Rates: The consistent renewal of existing domain names is a crucial component of VeriSign's recurring revenue. The company has demonstrated strong renewal rates, with a preliminary renewal rate of 75.3% in Q3 2025, an increase from 72.2% in the same quarter of the previous year. Similarly, the preliminary renewal rate for Q4 2025 was 75%, up from 74% in the prior year. Management has also indicated that enhanced marketing programs are contributing to improved renewal rates.
- Exploration and Expansion into New Generic Top-Level Domains (gTLDs): Beyond its established .com and .net domains, VeriSign is actively exploring opportunities in new gTLDs. The company is developing marketing programs for 2026 and investigating the potential of the .web domain, pending legal outcomes. Additionally, VeriSign is preparing for ICANN's new gTLD round scheduled for Q2 2026, highlighting its strategic focus on future growth opportunities through diversification in the domain market.
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Share Repurchases
- In 2025, VeriSign returned $1.1 billion to shareholders through share repurchases and quarterly dividends.
- As of the end of Q4 2025, VeriSign had $1.08 billion remaining under its share repurchase program.
- During Q4 2025, VeriSign repurchased 1.0 million shares of its common stock for $251 million.
Capital Expenditures
- VeriSign's capital expenditures for 2026 are projected to be between $55 million and $65 million.
- The anticipated increase in capital expenditures for 2026 is primarily for end-of-life equipment replacement and capacity expansion, largely influenced by AI-driven demand.
- In Q4 2025, VeriSign invested $4.5 million in capital expenditures.
Peer Outperformance in Internet Services & Infrastructure
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| VRSN | VeriSign | 5.3% | 31.8x | 23.1% | 48.1% | 39.8% | — |
| GDDY | GoDaddy | 7.1% | 16.2x | -13.9% | 54.8% | 62.5% | +23pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 10 | 22.7% | 137.2% | 207.2% | TTMI 496% · FLEX 458% · JBL 351% |
| Technology Distributors | 9 | 43.0% | 90.9% | 87.5% | AVT 163% · SNX 151% · CNXN 116% |
| Communications Equipment | 36 | 1.0% | 115.3% | 72.7% | AAOI 800% · LITE 800% · ANET 606% |
| Semiconductor Materials & Equipment | 28 | 43.5% | 70.4% | 63.1% | AXTI 510% · KLAC 346% · LRCX 335% |
| Electronic Components | 26 | -3.4% | 71.3% | 38.8% | CLS 2684% · BELFA 1101% · APH 291% |
| Semiconductors | 54 | 1.9% | 41.8% | 24.4% | MU 1231% · NVDA 832% · AVGO 582% |
| Technology Hardware, Storage & Peripherals | 21 | 13.2% | 83.6% | 21.4% | SMCI 833% · DELL 772% · STX 733% |
| Electronic Equipment & Instruments | 27 | -12.6% | 25.2% | -7.0% | PI 204% · OSIS 108% · KEYS 79% |
| Internet Services & Infrastructure ← | 6 | 4.6% | 51.4% | -7.1% | GDDY 63% · VRSN 40% · DOCN -1% |
| IT Consulting & Other Services | 29 | -22.5% | 4.4% | -22.1% | CHRN 388584% · APLD 297% · IBM 150% |
| Application Software | 126 | -19.7% | -4.2% | -44.2% | PLTR 705% · FROG 185% · AGYS 133% |
| Systems Software | 69 | -14.3% | 42.6% | -49.7% | ZETA 315% · CRWD 264% · FTNT 168% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 93.42 |
| Mkt Cap | 13.5 |
| Rev LTM | 1,732 |
| Op Inc LTM | 150 |
| FCF LTM | 315 |
| FCF 3Y Avg | 218 |
| CFO LTM | 633 |
| CFO 3Y Avg | 471 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 20.4% |
| Rev Chg 3Y Avg | 13.8% |
| Rev Chg Q | 23.3% |
| QoQ Delta Rev Chg LTM | 5.3% |
| Op Inc Chg LTM | 6.5% |
| Op Inc Chg 3Y Avg | 5.8% |
| Op Mgn LTM | 11.9% |
| Op Mgn 3Y Avg | 13.8% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 30.7% |
| CFO/Rev 3Y Avg | 34.6% |
| FCF/Rev LTM | 12.5% |
| FCF/Rev 3Y Avg | 10.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 13.5 |
| P/S | 9.5 |
| P/Op Inc | 23.0 |
| P/EBIT | 22.6 |
| P/E | 31.7 |
| P/CFO | 31.1 |
| Total Yield | 2.4% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 2.1% |
| D/E | 0.1 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -9.1% |
| 3M Rtn | 7.1% |
| 6M Rtn | 2.1% |
| 12M Rtn | 50.4% |
| 3Y Rtn | 70.5% |
| 1M Excs Rtn | -8.1% |
| 3M Excs Rtn | 6.3% |
| 6M Excs Rtn | -4.3% |
| 12M Excs Rtn | 41.6% |
| 3Y Excs Rtn | -15.8% |
Comparison Analyses
Price Behavior
| Market Price | $300.32 | |
| Market Cap ($ Bil) | 27.1 | |
| First Trading Date | 01/30/1998 | |
| Distance from 52W High | -2.8% | |
| 50 Days | 200 Days | |
| DMA Price | $292.94 | $269.16 |
| DMA Trend | up | up |
| Distance from DMA | 2.5% | 11.6% |
| 3M | 1YR | |
| Volatility | 24.3% | 28.5% |
| Downside Capture | 72.37 | 24.70 |
| Upside Capture | 99.98 | 43.08 |
| Correlation (S&P 500) | 23.1% | 1.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.94 | 0.90 | 0.17 | -0.05 | 0.04 | 0.37 |
| Up Beta | 2.00 | 1.23 | -0.01 | -0.65 | -0.42 | 0.24 |
| Down Beta | 0.19 | -0.80 | -1.45 | -0.64 | -0.30 | 0.32 |
| Up Capture | 77% | 83% | 79% | 38% | 21% | 20% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 12 | 22 | 37 | 70 | 134 | 401 |
| Down Capture | 120% | 125% | 20% | 26% | 43% | 72% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 10 | 20 | 27 | 56 | 118 | 351 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VRSN | |
|---|---|---|---|---|
| VRSN | 20.8% | 28.5% | 0.65 | - |
| Sector ETF (XLK) | 29.0% | 26.7% | 0.92 | -12.0% |
| Equity (SPY) | 14.8% | 12.7% | 0.80 | 0.8% |
| Gold (GLD) | -2.8% | 28.5% | -0.11 | -10.6% |
| Commodities (DBC) | 52.1% | 20.7% | 1.91 | -3.1% |
| Real Estate (VNQ) | 4.3% | 13.9% | 0.06 | 15.7% |
| Bitcoin (BTCUSD) | -24.8% | 43.5% | -0.54 | -4.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VRSN | |
|---|---|---|---|---|
| VRSN | 7.4% | 25.9% | 0.26 | - |
| Sector ETF (XLK) | 19.5% | 26.0% | 0.67 | 37.2% |
| Equity (SPY) | 12.7% | 17.1% | 0.56 | 47.2% |
| Gold (GLD) | 17.3% | 18.9% | 0.73 | 1.6% |
| Commodities (DBC) | 9.5% | 19.5% | 0.37 | 1.6% |
| Real Estate (VNQ) | 1.1% | 18.9% | -0.05 | 42.2% |
| Bitcoin (BTCUSD) | 5.7% | 51.7% | 0.29 | 17.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VRSN | |
|---|---|---|---|---|
| VRSN | 15.1% | 26.4% | 0.55 | - |
| Sector ETF (XLK) | 24.0% | 25.1% | 0.87 | 54.4% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 58.8% |
| Gold (GLD) | 11.8% | 16.4% | 0.59 | 4.8% |
| Commodities (DBC) | 8.4% | 18.1% | 0.38 | 12.5% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.21 | 45.6% |
| Bitcoin (BTCUSD) | 62.4% | 66.2% | 1.02 | 14.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 10/26/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/22/2026 | -1.4% | ||
| 7/23/2026 | 7.0% | 9.6% | 8.0% |
| 4/23/2026 | -2.8% | -3.0% | 12.2% |
| 2/5/2026 | 0.7% | -10.5% | 1.5% |
| 10/23/2025 | -1.4% | -6.0% | 0.6% |
| 7/24/2025 | 6.7% | -6.2% | -5.7% |
| 4/24/2025 | 8.0% | 10.7% | 11.1% |
| 2/6/2025 | -0.3% | 3.0% | 8.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 9 | 13 |
| # Negative | 14 | 15 | 11 |
| Median Positive | 4.2% | 6.6% | 4.6% |
| Median Negative | -2.4% | -4.5% | -6.3% |
| Max Positive | 9.5% | 10.7% | 16.0% |
| Max Negative | -14.3% | -15.7% | -15.4% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/22/2026 | -1.4% | ||
| 7/23/2026 | 7.0% | 9.6% | 8.0% |
| 4/23/2026 | -2.8% | -3.0% | 12.2% |
| 2/5/2026 | 0.7% | -10.5% | 1.5% |
| 10/23/2025 | -1.4% | -6.0% | 0.6% |
| 7/24/2025 | 6.7% | -6.2% | -5.7% |
| 4/24/2025 | 8.0% | 10.7% | 11.1% |
| 2/6/2025 | -0.3% | 3.0% | 8.9% |
| 10/24/2024 | -2.1% | -4.5% | -2.3% |
| 7/25/2024 | 4.2% | 6.6% | 1.5% |
| 4/25/2024 | -3.9% | -7.8% | -6.3% |
| 2/8/2024 | 0.4% | -2.5% | -4.6% |
| 10/26/2023 | -5.8% | -2.0% | 4.6% |
| 7/27/2023 | -0.6% | -0.6% | -1.8% |
| 4/27/2023 | 2.3% | 1.8% | 4.2% |
| 2/9/2023 | -2.0% | 0.6% | -10.0% |
| 10/27/2022 | 9.5% | -3.0% | 6.4% |
| 7/28/2022 | 3.6% | 8.0% | 2.7% |
| 4/28/2022 | -14.3% | -15.7% | -15.4% |
| 2/10/2022 | -3.1% | -3.3% | -7.0% |
| 10/28/2021 | 5.7% | 9.4% | 16.0% |
| 7/22/2021 | -4.7% | -7.5% | -8.8% |
| 4/22/2021 | -0.4% | 3.4% | 4.2% |
| 2/11/2021 | 0.7% | -1.0% | -7.4% |
| 10/22/2020 | -3.4% | -7.8% | -5.5% |
| SUMMARY STATS | |||
| # Positive | 11 | 9 | 13 |
| # Negative | 14 | 15 | 11 |
| Median Positive | 4.2% | 6.6% | 4.6% |
| Median Negative | -2.4% | -4.5% | -6.3% |
| Max Positive | 9.5% | 10.7% | 16.0% |
| Max Negative | -14.3% | -15.7% | -15.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/22/2026 | 10-Q |
| 06/30/2026 | 07/23/2026 | 10-Q |
| 03/31/2026 | 04/23/2026 | 10-Q |
| 12/31/2025 | 02/05/2026 | 10-K |
| 09/30/2025 | 10/23/2025 | 10-Q |
| 06/30/2025 | 07/24/2025 | 10-Q |
| 03/31/2025 | 04/24/2025 | 10-Q |
| 12/31/2024 | 02/13/2025 | 10-K |
| 09/30/2024 | 10/24/2024 | 10-Q |
| 06/30/2024 | 07/25/2024 | 10-Q |
| 03/31/2024 | 04/25/2024 | 10-Q |
| 12/31/2023 | 02/15/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/17/2023 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/22/2026 | 10-Q |
| 06/30/2026 | 07/23/2026 | 10-Q |
| 03/31/2026 | 04/23/2026 | 10-Q |
| 12/31/2025 | 02/05/2026 | 10-K |
| 09/30/2025 | 10/23/2025 | 10-Q |
| 06/30/2025 | 07/24/2025 | 10-Q |
| 03/31/2025 | 04/24/2025 | 10-Q |
| 12/31/2024 | 02/13/2025 | 10-K |
| 09/30/2024 | 10/24/2024 | 10-Q |
| 06/30/2024 | 07/25/2024 | 10-Q |
| 03/31/2024 | 04/25/2024 | 10-Q |
| 12/31/2023 | 02/15/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/17/2023 | 10-K |
| 09/30/2022 | 10/27/2022 | 10-Q |
| 06/30/2022 | 07/28/2022 | 10-Q |
| 03/31/2022 | 04/28/2022 | 10-Q |
| 12/31/2021 | 02/18/2022 | 10-K |
| 09/30/2021 | 10/28/2021 | 10-Q |
| 06/30/2021 | 07/22/2021 | 10-Q |
| 03/31/2021 | 04/22/2021 | 10-Q |
| 12/31/2020 | 02/19/2021 | 10-K |
| 09/30/2020 | 10/22/2020 | 10-Q |
| 06/30/2020 | 07/23/2020 | 10-Q |
| 03/31/2020 | 04/23/2020 | 10-Q |
| 12/31/2019 | 02/14/2020 | 10-K |
Insider Activity
Updated 10/21/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 10212026 | 306.30 | 3,300 | 1,010,775 | 113,888,997 | Form |
| 2 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 10142026 | 302.85 | 3,300 | 999,404 | 113,607,170 | Form |
| 3 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 10092026 | 293.14 | 500 | 146,570 | 9,349,563 | Form |
| 4 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 10072026 | 292.33 | 3,300 | 964,691 | 110,625,896 | Form |
| 5 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 10022026 | 284.38 | 500 | 142,190 | 9,212,357 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 10212026 | 306.30 | 3,300 | 1,010,775 | 113,888,997 | Form |
| 2 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 10142026 | 302.85 | 3,300 | 999,404 | 113,607,170 | Form |
| 3 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 10092026 | 293.14 | 500 | 146,570 | 9,349,563 | Form |
| 4 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 10072026 | 292.33 | 3,300 | 964,691 | 110,625,896 | Form |
| 5 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 10022026 | 284.38 | 500 | 142,190 | 9,212,357 | Form |
| 6 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 9302026 | 278.78 | 3,300 | 919,976 | 106,418,171 | Form |
| 7 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 9232026 | 304.74 | 3,300 | 1,005,658 | 117,335,124 | Form |
| 8 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 9162026 | 296.58 | 3,300 | 978,713 | 115,169,975 | Form |
| 9 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 9092026 | 289.16 | 500 | 144,580 | 9,511,783 | Form |
| 10 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 9092026 | 284.40 | 3,300 | 938,525 | 111,379,387 | Form |
| 11 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 9022026 | 290.78 | 500 | 145,390 | 9,710,462 | Form |
| 12 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 9022026 | 291.09 | 3,300 | 960,592 | 114,958,840 | Form |
| 13 | Armstrong, Courtney D | by The Armstrong Family Trust | Buy | 8312026 | 293.44 | 14 | 4,226 | 1,535,205 | Form | |
| 14 | Armstrong, Courtney D | Direct | Buy | 8312026 | 294.38 | 5 | 1,445 | 526,783 | Form | |
| 15 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 8262026 | 291.16 | 3,300 | 960,812 | 115,905,568 | Form |
| 16 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 8192026 | 277.85 | 3,300 | 916,910 | 111,526,440 | Form |
| 17 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 8132026 | 291.98 | 3,300 | 963,549 | 118,644,762 | Form |
| 18 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 8112026 | 292.35 | 500 | 146,175 | 10,100,998 | Form |
| 19 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 8042026 | 292.20 | 500 | 146,100 | 10,241,915 | Form |
| 20 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 7292026 | 281.20 | 3,300 | 927,964 | 116,118,972 | Form |
| 21 | Calys, John | EVP, Chief Financial Officer | Direct | Sell | 7292026 | 281.56 | 500 | 140,778 | 8,752,608 | Form |
| 22 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 7222026 | 270.44 | 3,300 | 892,466 | 112,569,438 | Form |
| 23 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 7222026 | 280.00 | 500 | 140,000 | 9,954,292 | Form |
| 24 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 7152026 | 267.84 | 3,300 | 883,875 | 112,369,730 | Form |
| 25 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 7092026 | 269.23 | 250 | 67,308 | 9,706,023 | Form |
| 26 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 7082026 | 266.09 | 3,300 | 878,105 | 112,514,245 | Form |
| 27 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 7022026 | 255.83 | 250 | 63,958 | 9,286,896 | Form |
| 28 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 7012026 | 250.94 | 3,300 | 828,110 | 106,936,366 | Form |
| 29 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 6242026 | 248.53 | 3,300 | 820,141 | 106,727,382 | Form |
| 30 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 6172026 | 274.22 | 3,300 | 904,926 | 118,665,644 | Form |
| 31 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 6112026 | 283.54 | 500 | 141,770 | 10,363,683 | Form |
| 32 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 6112026 | 284.29 | 3,300 | 938,169 | 123,963,168 | Form |
| 33 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 6032026 | 293.45 | 500 | 146,725 | 10,872,629 | Form |
| 34 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 6032026 | 297.47 | 3,300 | 981,646 | 130,689,522 | Form |
| 35 | Armstrong, Courtney D | by The Armstrong Family Trust | Buy | 5292026 | 305.28 | 14 | 4,215 | 1,592,711 | Form | |
| 36 | Armstrong, Courtney D | Direct | Buy | 5292026 | 309.01 | 2 | 714 | 273,337 | Form | |
| 37 | McPherson, Danny R | EVP - Technology & CSO | Direct | Sell | 4292026 | 271.02 | 5,000 | 1,355,106 | 9,538,639 | Form |
| 38 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 4152026 | 270.06 | 498 | 134,490 | 10,316,902 | Form |
| 39 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 4082026 | 274.00 | 498 | 136,452 | 10,603,871 | Form |
| 40 | Armstrong, Courtney D | by The Armstrong Family Trust | Buy | 3252026 | 250.17 | 16 | 3,980 | 1,301,752 | Form | |
| 41 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 3112026 | 240.62 | 332 | 79,886 | 9,551,714 | Form |
| 42 | Armstrong, Courtney D | by The Armstrong Family Trust | Buy | 3032026 | 223.54 | 19 | 4,200 | 1,159,628 | Form | |
| 43 | Armstrong, Courtney D | Direct | Buy | 3032026 | 219.44 | 3 | 712 | 193,600 | Form | |
| 44 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 2112026 | 219.24 | 166 | 36,394 | 9,213,126 | Form |
| 45 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 2042026 | 249.08 | 498 | 124,042 | 7,501,048 | Form |
| 46 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 1122026 | 250.00 | 166 | 41,500 | 7,777,754 | Form |
| 47 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 1072026 | 240.83 | 332 | 79,956 | 7,532,444 | Form |
| 48 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 12182025 | 245.04 | 2,000 | 490,089 | 103,188,069 | Form |
| 49 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 12182025 | 244.25 | 2,000 | 488,498 | 103,341,601 | Form |
| 50 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 12182025 | 241.79 | 5,000 | 1,208,954 | 102,785,030 | Form |
| 51 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 12112025 | 244.46 | 2,000 | 488,913 | 105,140,608 | Form |
| 52 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 12112025 | 242.07 | 2,000 | 484,150 | 104,600,333 | Form |
| 53 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 12112025 | 244.59 | 5,000 | 1,222,973 | 106,178,282 | Form |
| 54 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 12102025 | 250.07 | 501 | 125,285 | 7,904,467 | Form |
| 55 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 12032025 | 252.62 | 501 | 126,563 | 8,111,632 | Form |
| 56 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 11202025 | 248.09 | 2,000 | 496,172 | 108,901,369 | Form |
| 57 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 11202025 | 246.05 | 2,000 | 492,109 | 108,501,840 | Form |
| 58 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 11202025 | 250.05 | 5,000 | 1,250,250 | 110,763,753 | Form |
| 59 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 11132025 | 252.83 | 2,000 | 505,670 | 113,633,796 | Form |
| 60 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 11132025 | 251.27 | 2,000 | 502,544 | 113,433,858 | Form |
| 61 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 11132025 | 248.14 | 5,000 | 1,240,700 | 112,516,304 | Form |
| 62 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 11122025 | 250.00 | 334 | 83,500 | 8,296,818 | Form |
| 63 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 11122025 | 246.47 | 334 | 82,321 | 8,261,988 | Form |
| 64 | Calys, John | EVP, Chief Financial Officer | Direct | Sell | 11102025 | 242.71 | 1,001 | 242,955 | 6,003,223 | Form |
| 65 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 11052025 | 244.52 | 334 | 81,670 | 8,278,291 | Form |
| 66 | McPherson, Danny R | EVP - Technology & CSO | Direct | Sell | 11032025 | 236.87 | 2,500 | 592,175 | 6,768,996 | Form |
| 67 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 10232025 | 249.70 | 2,000 | 499,400 | 114,472,194 | Form |
| 68 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 10232025 | 261.54 | 2,000 | 523,080 | 120,423,209 | Form |
| 69 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 10232025 | 267.43 | 5,000 | 1,337,174 | 123,672,170 | Form |
| 70 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 10162025 | 261.79 | 2,000 | 523,585 | 122,371,857 | Form |
| 71 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 10162025 | 264.06 | 2,000 | 528,120 | 123,960,068 | Form |
| 72 | Bidzos, D James | Exec. Chairman, Pres, & CEO | Direct | Sell | 10162025 | 265.57 | 5,000 | 1,327,873 | 125,202,160 | Form |
| 73 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 10152025 | 262.92 | 501 | 131,723 | 8,989,043 | Form |
| 74 | Indelicarto, Thomas C | EVP, Gen Counsel & Secretary | Direct | Sell | 10082025 | 270.87 | 501 | 135,706 | 9,396,554 | Form |
Investor Activity (13F)
Updated Oct 26, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Hawk Ridge Capital Management LP | $227.3 Mil | 8.3% | 48 | ADD +48.5% | 13F |
| Troy Asset Management Ltd | $194.6 Mil | 5.8% | 30 | New | 13F |
| GFI Investment Counsel Ltd. | $10.8 Mil | 1.5% | 24 | New | 13F |
| Cadian Capital Management, LP | $11.2 Mil | 1.4% | 23 | New | 13F |
| Nishkama Capital, LLC | $5.9 Mil | 0.8% | 39 | New | 13F |
| Fundsmith LLP | $28.2 Mil | 0.2% | 34 | TRIM -58.1% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Troy Asset Management Ltd | $194.6 Mil | 5.8% | 30 | New | 13F |
| Cadian Capital Management, LP | $11.2 Mil | 1.4% | 23 | New | 13F |
| GFI Investment Counsel Ltd. | $10.8 Mil | 1.5% | 24 | New | 13F |
| Nishkama Capital, LLC | $5.9 Mil | 0.8% | 39 | New | 13F |
| Hawk Ridge Capital Management LP | $227.3 Mil | 8.3% | 48 | ADD +48.5% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Hawk Ridge Capital Management LP | $227.3 Mil | 8.3% | 48 | ADD +48.5% | 13F |
| Troy Asset Management Ltd | $194.6 Mil | 5.8% | 30 | New | 13F |
| Fundsmith LLP | $28.2 Mil | 0.2% | 34 | TRIM -58.1% | 13F |
| Cadian Capital Management, LP | $11.2 Mil | 1.4% | 23 | New | 13F |
| GFI Investment Counsel Ltd. | $10.8 Mil | 1.5% | 24 | New | 13F |
| Nishkama Capital, LLC | $5.9 Mil | 0.8% | 39 | New | 13F |
VRSN Trade Sentinel
Constructive
CONVICTION RATIONALE
VeriSign is experiencing a significant re-acceleration in its core business, with domain base growth guidance raised to 6.5%-7.0% for 2026. This strong operational momentum is balanced by a new, material antitrust lawsuit filed in September 2026 that directly challenges the company's foundational .com pricing power, creating a significant but unquantified risk.
STOCK ARCHETYPE
Regulated Recurring RevenueTotal Domain Name Base x Average Wholesale Price Per Domain Executing contractually-permitted price increases on the large, stable, and growing installed base of domain names, which generates high-margin incremental revenue.
INVESTMENT THESIS
Evidence points to a structural uplift, driven by new AI tools and effective marketing, with three consecutive quarters of record new domain registrations.
- Full-year 2026 domain base growth guidance was raised to 6.5%-7.0%.
- New .com and .net registrations hit a record 13.1 million in Q3 2026.
- The .com wholesale price increases to $10.97 on November 1, 2026.
- The .web top-level domain is launching, with a sunrise period in mid-December 2026.
PRIMARY RISK
A class-action lawsuit filed September 4, 2026, alleges an illegal monopoly and excessive fees for .com domains. An adverse outcome could fundamentally impair the company's exclusive contract and contractually-defined pricing power, which are the primary sources of its high margins and predictable cash flow.
- A class action complaint was filed against Verisign and ICANN on September 4, 2026.
- The suit asserts claims under federal and California antitrust laws.
- The complaint specifically targets the .com Registry Agreement and domain name pricing.
- The .com agreement is the foundation of the company's 67.6% operating margin.
| KPI | Status | Rationale |
|---|---|---|
| .com and .net Domain Name Base Growth | 182.5 million domain names as of Q3 2026 - Accelerating | The domain base growth has shown significant acceleration throughout the year. Full-year 2025 growth was 2.6%. In response to the momentum, management has repeatedly raised its full-year 2026 growth guidance, from an initial 1.5%-3.5% to a current 6.5%-7.0% as of the October earnings call. Sequential net additions have also accelerated for three consecutive quarters. |
| New .com and .net Registrations | 13.1 million new registrations in Q3 2026 - Accelerating | New registrations have set a record for three consecutive quarters, increasing from 11.5 million in Q1 to 12.7 million in Q2 and 13.1 million in Q3. This accelerating top-of-funnel activity is the primary driver of the domain base growth. |
| .com and .net Renewal Rate | 74.3% (expected) (Q3 2026) | Measures the retention of the existing domain base. A high and stable renewal rate is critical for revenue predictability. The rate is expected to decrease slightly year-over-year due to a higher mix of first-time renewing names. |
AI-Driven Growth vs. Antitrust Threat
BULL VIEW
Bulls believe the 'stunningly strong' demand, with new registrations hitting a record 13.1 million in Q3, is a durable trend that will compound value faster than the market expects, making the legal risk a manageable long-term issue.
CORE TENSION
Can accelerating domain growth (guided to 6.5%-7.0%) create enough value to offset the new, unquantified risk from the September 2026 antitrust lawsuit?
PREVAILING SENTIMENT
Current evidence favors the bull case operationally, as management has raised full-year domain growth guidance for three consecutive quarters, demonstrating tangible momentum.
BEAR VIEW
Bears argue the new antitrust lawsuit is a structural threat to the entire business model. They believe the market is underestimating the risk of a negative legal outcome that could permanently impair VeriSign's pricing power and monopoly status.
| Timeline | Event & Metric To Watch |
|---|---|
November 1, 2026 | .com Domain Price Increase Watch: The annual wholesale price for .com domain names increases from $10.26 to $10.97. |
by year end | VeriSign Informed Pricing Finalized Watch: Pricing for the new VeriSign Informed security service is expected to be finalized. |
2/3/2027 | Renewal Rate Decline Watch: The Q4 renewal rate and full-year 2027 domain base growth guidance in the next earnings report. |
2/3/2027 | Next Quarterly Earnings Report Watch: The company is scheduled to report its next quarterly earnings. |
2/8/2027 | Peer Growth Divergence Watch: Cloudflare's commentary on developer platform growth and agentic AI trends in its next earnings report. |
2/8/2027 | Cloudflare Earnings Report Watch: Peer Cloudflare (NET) is scheduled to report its quarterly earnings. |
2/9/2027 | Fastly Earnings Report Watch: Peer Fastly (FSLY) is scheduled to report its quarterly earnings. |
2/17/2027 | Akamai Earnings Report Watch: Peer Akamai Technologies (AKAM) is scheduled to report its quarterly earnings. |
March 1, 2027 | .net Domain Price Increase Watch: The annual wholesale fee for .net domain names will increase from $10.91 to $12.00. |
mid December | New Product Launch Execution Watch: Registrar feedback on pricing and terms, initial registration volumes for .web, and early customer adoption for VeriSign Informed. |
| Date | Event | Stock Impact |
|---|---|---|
2026-10-22 | Q3 Results and Guidance Raise Details: Verisign reported Q3 revenue of $443 million, up 5.7% YoY. Management raised and narrowed its 2026 domain name base growth guidance to between 6.5% and 7.0%. | -2.3% $307.25 -> $300.32 |
2026-09-04 | Antitrust Lawsuit Filed Details: A class-action lawsuit was filed against Verisign and ICANN, alleging an illegal monopoly and excessive fees for .com domains. | -3.8% $293.35 -> $282.20 |
2026-07-23 | Positive Q2 Earnings Reaction Details: The two-day stock reaction around the earnings call dated 2026-07-23 was 7.0%, outperforming the S&P 500, which declined over the same period. | +6.6% $261.82 -> $279.18 |
2026-07-23 | Q2 Results and .web Milestone Details: Management also announced the .web domain was delegated into the root zone. | +6.6% $261.82 -> $279.18 |
2026-04-26 | Post-Earnings Stock Decline Details: Following its Q1 earnings report, the company's stock traded down 6.5% on April 26, 2026. | -3.3% $275.41 -> $266.41 |
2026-04-23 | Q1 Results and Price Hike Details: Verisign reported Q1 revenue of $429 million, up 6.6% YoY. The company also announced a price increase for .com domain names, effective November 1, 2026. | -0.2% $268.33 -> $267.70 |
Position Sizing
4% - 6%
NORMAL POSITION
Sizing is volatility-based: VRSN trades at roughly 24% annualized realized (three-month) volatility versus about 11% for the S&P 500 (2.2x the market). A 4% - 6% position keeps a single-name swing of that size within a diversified portfolio's risk budget.
Diversification Alternatives
AKAM - a business partner
Diversified Infrastructure PlayAkamai offers exposure to a much larger, more diversified content delivery and security business, though with lower operating margins compared to VeriSign's 67.6%.
NET - a business partner
Hyper-Growth Disruptora business partner provides exposure to a hyper-growth (33.5% TTM revenue growth) developer-focused platform at the center of AI and edge computing trends, albeit with negative current operating margins.
VeriSign is a regulated digital utility, operating the toll road for the internet's most valuable real estate (.com) with contractually guaranteed pricing power.
The company's core business is a high-margin, cash-generative monopoly for .com domains, underpinned by a long-term contract with ICANN. Revenue growth is a simple and predictable function of modest unit growth in its massive domain base plus periodic, contractually-allowed price hikes. Strong cash flows are returned to shareholders through buybacks and dividends, creating a compounding earnings opportunity.
Continued strong domain base growth, successful implementation of announced price increases without significant churn, and a favorable resolution to the recent antitrust lawsuit.
Any adverse regulatory action from ICANN or the U.S. government that threatens the renewal or terms of the .com registry agreement, or a structural decline in the relevance of domain names.
Short-term fluctuations in quarterly new registrations or renewal rates, which can be influenced by marketing program timing and the mix of renewing names.
Repricing Catalyst
Accelerating domain name base growth, driven by AI and marketing, which has led to upward revisions in company guidance. The upcoming launch of the .web TLD and a new security service, VeriSign Informed, offer potential new growth vectors.
VeriSign — Investor Video Playlist
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Internet Services & Infrastructure Resources |
| Data Center Dynamics |
| Data Center Frontier |
| Internet Society |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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