VeriSign, Inc. $VRSN Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. trimmed its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,735 shares of the information services provider’s stock after selling 2,103 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in VeriSign were worth $11,688,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Salomon & Ludwin LLC grew its position in VeriSign by 112.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider’s stock worth $28,000 after purchasing an additional 54 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of VeriSign during the third quarter worth about $29,000. Bayforest Capital Ltd acquired a new stake in shares of VeriSign during the second quarter worth about $34,000. Ameritas Advisory Services LLC purchased a new position in shares of VeriSign during the second quarter worth about $34,000. Finally, North Capital Inc. increased its position in VeriSign by 239.0% in the 3rd quarter. North Capital Inc. now owns 139 shares of the information services provider’s stock valued at $39,000 after acquiring an additional 98 shares during the period. Hedge funds and other institutional investors own 92.90% of the company’s stock.

VeriSign Price Performance

VeriSign stock opened at $250.60 on Monday. The stock’s 50 day moving average price is $247.31 and its 200 day moving average price is $262.08. VeriSign, Inc. has a 1-year low of $206.01 and a 1-year high of $310.60. The company has a market cap of $23.23 billion, a PE ratio of 29.21 and a beta of 0.77.

VeriSign (NASDAQ:VRSN) last released its earnings results on Thursday, October 23rd. The information services provider reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.02. VeriSign had a negative return on equity of 40.66% and a net margin of 49.86%.The company had revenue of $419.10 million during the quarter, compared to the consensus estimate of $416.71 million. During the same quarter last year, the company earned $2.07 earnings per share. VeriSign’s quarterly revenue was up 7.3% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of VeriSign in a research report on Monday, December 29th. Citigroup restated a “buy” rating on shares of VeriSign in a research note on Friday, October 24th. Zacks Research lowered shares of VeriSign from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 30th. JPMorgan Chase & Co. boosted their price objective on shares of VeriSign from $270.00 to $271.00 and gave the company a “neutral” rating in a research note on Tuesday, January 6th. Finally, Robert W. Baird set a $325.00 target price on shares of VeriSign in a research note on Friday, October 24th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $282.00.

Insider Transactions at VeriSign

In related news, EVP Danny R. Mcpherson sold 2,500 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $236.87, for a total value of $592,175.00. Following the completion of the sale, the executive vice president owned 28,577 shares in the company, valued at $6,769,033.99. This trade represents a 8.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO D James Bidzos sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $248.14, for a total transaction of $1,240,700.00. Following the transaction, the chief executive officer owned 453,439 shares in the company, valued at $112,516,353.46. The trade was a 1.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 40,833 shares of company stock valued at $10,041,648 in the last quarter. Insiders own 0.84% of the company’s stock.

About VeriSign

VeriSign, Inc (NASDAQ: VRSN) is an internet infrastructure company that operates critical components of the global Domain Name System (DNS) and provides cybersecurity-related services. The company is best known as the authoritative registry operator for the .com and .net top-level domains, maintaining the central databases and zone files that enable domain name resolution for millions of websites. VeriSign’s registry role is performed under contractual agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and involves high-availability, highly secure operations to support continuous internet connectivity.

In addition to its registry business, VeriSign offers a suite of services designed to protect and accelerate DNS and internet traffic for enterprises and service providers.