Wedbush Securities Inc. Has $314,000 Holdings in Verisign, Inc. (NASDAQ:VRSN)

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Wedbush Securities Inc. boosted its holdings in shares of Verisign, Inc. (NASDAQ:VRSN) by 15.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,500 shares of the information services provider’s stock after buying an additional 200 shares during the quarter. Wedbush Securities Inc.’s holdings in Verisign were worth $314,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cornerstone Advisors Inc. increased its position in Verisign by 35.8% during the second quarter. Cornerstone Advisors Inc. now owns 205 shares of the information services provider’s stock worth $43,000 after buying an additional 54 shares during the last quarter. Close Asset Management Ltd grew its position in shares of Verisign by 14,555.3% in the first quarter. Close Asset Management Ltd now owns 16,707 shares of the information services provider’s stock valued at $3,034,000 after purchasing an additional 16,593 shares during the last quarter. TD Asset Management Inc. grew its position in shares of Verisign by 0.8% in the first quarter. TD Asset Management Inc. now owns 76,511 shares of the information services provider’s stock valued at $13,891,000 after purchasing an additional 637 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Verisign by 0.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 144,400 shares of the information services provider’s stock valued at $26,217,000 after purchasing an additional 590 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Verisign by 175.3% in the second quarter. SG Americas Securities LLC now owns 29,580 shares of the information services provider’s stock valued at $6,187,000 after purchasing an additional 18,836 shares during the last quarter. 91.96% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Verisign stock traded up $1.60 on Friday, hitting $205.00. The stock had a trading volume of 373,800 shares, compared to its average volume of 637,375. Verisign, Inc. has a twelve month low of $131.28 and a twelve month high of $221.78. The business’s 50 day moving average is $212.83 and its two-hundred day moving average is $194.82. The stock has a market cap of $24.08 billion, a price-to-earnings ratio of 43.16 and a beta of 1.06.

Verisign (NASDAQ:VRSN) last posted its earnings results on Thursday, July 25th. The information services provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.18 by $0.06. The company had revenue of $306.29 million for the quarter, compared to the consensus estimate of $306.57 million. Verisign had a negative return on equity of 43.63% and a net margin of 51.38%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.18 earnings per share. On average, equities research analysts expect that Verisign, Inc. will post 4.98 EPS for the current year.

Several research firms have recently commented on VRSN. ValuEngine downgraded Verisign from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research raised Verisign from a “hold” rating to a “buy” rating and set a $224.00 target price on the stock in a research report on Tuesday, April 30th. Finally, Robert W. Baird upped their target price on Verisign from $210.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Verisign has an average rating of “Buy” and an average target price of $204.75.

In related news, Director Timothy Tomlinson sold 575 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $213.50, for a total value of $122,762.50. Following the completion of the sale, the director now directly owns 34,251 shares in the company, valued at $7,312,588.50. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.20% of the company’s stock.

Verisign Company Profile

VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.

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Institutional Ownership by Quarter for Verisign (NASDAQ:VRSN)

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