ING Groep NV cut its stake in VeriSign Inc. (NASDAQ:VRSN) by 37.7% during the second quarter, Holdings Channel reports. The institutional investor owned 3,364 shares of the company’s stock after selling 2,038 shares during the period. ING Groep NV’s holdings in VeriSign were worth $291,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bridger Management LLC acquired a new position in shares of VeriSign during the first quarter worth about $36,446,000. Smith Asset Management Group LP increased its position in shares of VeriSign by 1.7% in the second quarter. Smith Asset Management Group LP now owns 404,910 shares of the company’s stock worth $35,009,000 after buying an additional 6,584 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of VeriSign by 16.7% in the second quarter. Capstone Asset Management Co. now owns 18,994 shares of the company’s stock worth $1,642,000 after buying an additional 2,720 shares in the last quarter. Exxonmobil Investment Management Inc. TX increased its position in shares of VeriSign by 5.4% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 24,710 shares of the company’s stock worth $2,136,000 after buying an additional 1,255 shares in the last quarter. Finally, BB&T Securities LLC increased its position in shares of VeriSign by 2.2% in the first quarter. BB&T Securities LLC now owns 4,508 shares of the company’s stock worth $399,000 after buying an additional 97 shares in the last quarter.
Shares of VeriSign Inc. (NASDAQ:VRSN) traded down 1.36% during mid-day trading on Thursday, hitting $75.21. The stock had a trading volume of 609,065 shares. The company’s 50 day moving average is $76.80 and its 200-day moving average is $83.03. The stock has a market cap of $8.03 billion, a P/E ratio of 23.96 and a beta of 1.25. VeriSign Inc. has a 52-week low of $70.26 and a 52-week high of $93.94.
VeriSign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.05. VeriSign had a net margin of 37.47% and a negative return on equity of 37.96%. The firm earned $286 million during the quarter, compared to the consensus estimate of $284.34 million. During the same quarter last year, the firm earned $0.74 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities research analysts anticipate that VeriSign Inc. will post $3.49 earnings per share for the current fiscal year.
Several research firms have weighed in on VRSN. Zacks Investment Research cut VeriSign from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Citigroup Inc. reaffirmed a “sell” rating and set a $70.00 price objective on shares of VeriSign in a research report on Friday, September 23rd. Cowen and Company reaffirmed a “market perform” rating and set a $80.00 price objective on shares of VeriSign in a research report on Tuesday, September 6th. Finally, JPMorgan Chase & Co. lifted their price objective on VeriSign from $84.00 to $88.00 and gave the company an “underweight” rating in a research report on Friday, July 29th.
In related news, Director Timothy Tomlinson sold 1,477 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $85.30, for a total value of $125,988.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.92% of the stock is currently owned by corporate insiders.
VeriSign Company Profile
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 (Registry Services). The Company operates in Registry Services and Security Services segment. Its 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.
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