Tower Research Capital LLC TRC increased its stake in shares of VeriSign Inc. (NASDAQ:VRSN) by 22.1% during the second quarter, Holdings Channel reports. The firm owned 1,215 shares of the company’s stock after buying an additional 220 shares during the period. Tower Research Capital LLC TRC’s holdings in VeriSign were worth $105,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of VRSN. Global X Management Co. LLC raised its position in VeriSign by 76.1% in the second quarter. Global X Management Co. LLC now owns 1,166 shares of the company’s stock valued at $101,000 after buying an additional 504 shares during the period. Mizuho Asset Management Co. Ltd. raised its position in VeriSign by 112.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,327 shares of the company’s stock valued at $115,000 after buying an additional 701 shares during the period. IFP Advisors Inc raised its position in VeriSign by 21.2% in the first quarter. IFP Advisors Inc now owns 1,432 shares of the company’s stock valued at $127,000 after buying an additional 250 shares during the period. Quadrant Capital Group LLC raised its position in VeriSign by 1.0% in the second quarter. Quadrant Capital Group LLC now owns 1,656 shares of the company’s stock valued at $140,000 after buying an additional 17 shares during the period. Finally, MU Investments Co. Ltd. bought a new position in VeriSign during the second quarter valued at approximately $161,000.
VeriSign Inc. (NASDAQ:VRSN) opened at 75.71 on Friday. VeriSign Inc. has a 12 month low of $70.26 and a 12 month high of $93.94. The stock’s 50 day moving average price is $76.84 and its 200 day moving average price is $82.88. The firm has a market capitalization of $8.08 billion, a P/E ratio of 24.12 and a beta of 1.25.
VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.91 earnings per share (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 company earned $286 million during the quarter, compared to analysts’ expectations of $284.34 million. During the same period in the prior year, the company earned $0.74 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, analysts forecast that VeriSign Inc. will post $3.49 earnings per share for the current year.
Several equities analysts have recently commented on the company. Zacks Investment Research lowered VeriSign from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Citigroup Inc. reiterated a “sell” rating and set a $70.00 price objective on shares of VeriSign in a research report on Friday, September 23rd. JPMorgan Chase & Co. boosted their price objective on VeriSign from $84.00 to $88.00 and gave the stock an “underweight” rating in a research report on Friday, July 29th. Finally, Cowen and Company reiterated a “market perform” rating and set a $80.00 price objective on shares of VeriSign in a research report on Tuesday, September 6th.
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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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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