TrimTabs Asset Management LLC cut its stake in shares of VeriSign Inc. (NASDAQ:VRSN) by 12.8% during the second quarter, Holdings Channel reports. The firm owned 19,913 shares of the company’s stock after selling 2,914 shares during the period. VeriSign comprises about 1.1% of TrimTabs Asset Management LLC’s investment portfolio, making the stock its 20th largest position. TrimTabs Asset Management LLC’s holdings in VeriSign were worth $1,722,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of VRSN. Quadrant Capital Group LLC raised its position in shares of VeriSign by 1.0% in the second quarter. Quadrant Capital Group LLC now owns 1,656 shares of the company’s stock worth $140,000 after buying an additional 17 shares during the last quarter. MU Investments Co. Ltd. purchased a new position in shares of VeriSign during the second quarter worth $161,000. Bessemer Group Inc. raised its position in shares of VeriSign by 1.1% in the first quarter. Bessemer Group Inc. now owns 2,304 shares of the company’s stock worth $204,000 after buying an additional 24 shares during the last quarter. Conning Inc. raised its position in shares of VeriSign by 3.3% in the second quarter. Conning Inc. now owns 2,504 shares of the company’s stock worth $216,000 after buying an additional 80 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of VeriSign by 1.2% in the second quarter. Fisher Asset Management LLC now owns 2,527 shares of the company’s stock worth $215,000 after buying an additional 31 shares during the last quarter.
Shares of VeriSign Inc. (NASDAQ:VRSN) traded up 0.33% during midday trading on Wednesday, reaching $75.94. The company had a trading volume of 148,652 shares. VeriSign Inc. has a one year low of $70.26 and a one year high of $93.94. The company has a market capitalization of $8.11 billion, a P/E ratio of 24.19 and a beta of 1.25. The company has a 50-day moving average price of $76.88 and a 200 day moving average price of $82.59.
VeriSign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.05. The firm had revenue of $286 million for the quarter, compared to analyst estimates of $284.34 million. VeriSign had a negative return on equity of 37.96% and a net margin of 37.47%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $0.74 EPS. Equities analysts anticipate that VeriSign Inc. will post $3.49 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on VRSN. Zacks Investment Research lowered 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 set a $80.00 target price on shares of VeriSign in a research report on Tuesday, September 6th. JPMorgan Chase & Co. upped their target price on VeriSign from $84.00 to $88.00 and gave the stock an “underweight” rating in a research report on Friday, July 29th. Finally, Citigroup Inc. reaffirmed a “sell” rating and set a $70.00 target price on shares of VeriSign in a research report on Friday, September 23rd.
In other news, Director Timothy Tomlinson sold 1,477 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was 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 available at this hyperlink. 0.92% of the stock is owned by insiders.
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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