North Star Asset Management Inc. decreased its position in shares of VeriSign Inc. (NASDAQ:VRSN) by 4.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 42,639 shares of the company’s stock after selling 1,760 shares during the period. North Star Asset Management Inc.’s holdings in VeriSign were worth $3,686,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bridger Management LLC purchased a new position in VeriSign during the first quarter worth $36,446,000. BlackRock Institutional Trust Company N.A. raised its stake in shares of VeriSign by 14.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,133,620 shares of the company’s stock valued at $277,451,000 after buying an additional 393,377 shares during the period. AXA raised its stake in shares of VeriSign by 496.3% in the first quarter. AXA now owns 319,000 shares of the company’s stock valued at $28,244,000 after buying an additional 265,500 shares during the period. Makaira Partners LLC bought a new stake in shares of VeriSign during the first quarter valued at about $19,972,000. Finally, Old Mutual Global Investors UK Ltd. raised its stake in shares of VeriSign by 859.1% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 250,759 shares of the company’s stock valued at $21,680,000 after buying an additional 224,613 shares during the period.
Shares of VeriSign Inc. (NASDAQ:VRSN) traded up 0.74% during trading on Friday, hitting $75.77. The stock had a trading volume of 347,123 shares. The company has a market cap of $8.09 billion, a P/E ratio of 24.14 and a beta of 1.25. VeriSign Inc. has a one year low of $70.26 and a one year high of $93.94. The stock’s 50-day moving average price is $76.82 and its 200-day moving average price is $82.97.
VeriSign (NASDAQ:VRSN) last released its earnings results on Thursday, July 28th. The company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.05. VeriSign had a negative return on equity of 37.96% and a net margin of 37.47%. The firm had revenue of $286 million for the quarter, compared to the consensus estimate of $284.34 million. During the same period in the prior year, the business posted $0.74 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities research analysts forecast that VeriSign Inc. will post $3.49 EPS for the current fiscal year.
Several equities analysts have weighed in on the company. Zacks Investment Research downgraded VeriSign from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Cowen and Company reaffirmed a “market perform” rating and issued a $80.00 target price on shares of VeriSign in a research report on Tuesday, September 6th. JPMorgan Chase & Co. lifted their target price on VeriSign from $84.00 to $88.00 and gave the company an “underweight” rating in a research report on Friday, July 29th. Finally, Citigroup Inc. reaffirmed a “sell” rating and issued a $70.00 target price on shares of VeriSign in a research report on Friday, September 23rd.
In related news, Director Timothy Tomlinson sold 1,477 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $85.30, for a total transaction of $125,988.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.92% of the company’s stock.
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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