D. E. Shaw & Co. Inc. trimmed its position in Verisign, Inc. (NASDAQ:VRSN) by 0.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,226,101 shares of the information services provider’s stock after selling 10,440 shares during the quarter. Verisign comprises about 0.8% of D. E. Shaw & Co. Inc.’s portfolio, making the stock its 6th biggest holding. D. E. Shaw & Co. Inc.’s holdings in Verisign were worth $674,772,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Point72 Hong Kong Ltd boosted its holdings in shares of Verisign by 818.4% during the 2nd quarter. Point72 Hong Kong Ltd now owns 12,858 shares of the information services provider’s stock worth $2,689,000 after purchasing an additional 11,458 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Verisign during the 2nd quarter worth approximately $6,877,000. California State Teachers Retirement System boosted its holdings in shares of Verisign by 3.6% during the 2nd quarter. California State Teachers Retirement System now owns 172,247 shares of the information services provider’s stock worth $36,027,000 after purchasing an additional 5,927 shares during the last quarter. Nomura Holdings Inc. acquired a new position in Verisign in the second quarter valued at approximately $4,393,000. Finally, Morgan Stanley lifted its holdings in Verisign by 4.6% in the second quarter. Morgan Stanley now owns 183,601 shares of the information services provider’s stock valued at $38,401,000 after acquiring an additional 8,039 shares during the last quarter. Institutional investors and hedge funds own 91.45% of the company’s stock.
A number of research analysts recently commented on VRSN shares. ValuEngine cut Verisign from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. BidaskClub cut Verisign from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Finally, Robert W. Baird upped their price objective on Verisign from $210.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Verisign currently has an average rating of “Buy” and an average target price of $204.75.
Verisign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, July 25th. The information services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.06. Verisign had a negative return on equity of 43.63% and a net margin of 51.38%. The firm had revenue of $306.29 million for the quarter, compared to analysts’ expectations of $306.57 million. During the same period in the prior year, the firm posted $1.18 earnings per share. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Verisign, Inc. will post 4.98 earnings per share for the current fiscal year.
In related news, Director Timothy Tomlinson sold 575 shares of the company’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 transaction, the director now directly owns 34,251 shares in the company, valued at $7,312,588.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.
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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