Overbrook Management Corp Sells 31,181 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Overbrook Management Corp cut its position in shares of VeriSign, Inc. (NASDAQ:VRSN) by 37.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,489 shares of the information services provider’s stock after selling 31,181 shares during the quarter. VeriSign makes up about 2.6% of Overbrook Management Corp’s investment portfolio, making the stock its 17th largest position. Overbrook Management Corp owned 0.05% of VeriSign worth $9,758,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of VRSN. Crestmont Private Wealth LLC lifted its stake in shares of VeriSign by 65.2% in the 1st quarter. Crestmont Private Wealth LLC now owns 1,675 shares of the information services provider’s stock valued at $317,000 after acquiring an additional 661 shares during the last quarter. Banque Cantonale Vaudoise raised its holdings in VeriSign by 205.1% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,754 shares of the information services provider’s stock valued at $1,280,000 after buying an additional 4,540 shares during the last quarter. Perpetual Ltd purchased a new stake in shares of VeriSign during the first quarter worth about $553,000. Alaska Permanent Fund Corp grew its stake in shares of VeriSign by 2.2% in the first quarter. Alaska Permanent Fund Corp now owns 37,106 shares of the information services provider’s stock worth $7,032,000 after purchasing an additional 781 shares during the last quarter. Finally, First Hawaiian Bank bought a new position in VeriSign during the 1st quarter valued at approximately $212,000. 92.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on VRSN shares. Robert W. Baird reiterated a “neutral” rating and issued a $200.00 price target on shares of VeriSign in a report on Thursday. Citigroup cut their price objective on VeriSign from $237.00 to $236.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Finally, StockNews.com downgraded VeriSign from a “buy” rating to a “hold” rating in a report on Sunday, June 16th.

VeriSign Stock Down 0.5 %

Shares of NASDAQ VRSN traded down $0.87 on Thursday, reaching $178.23. 910,907 shares of the company’s stock traded hands, compared to its average volume of 667,887. The business’s 50 day simple moving average is $175.73 and its two-hundred day simple moving average is $189.69. VeriSign, Inc. has a 12 month low of $167.04 and a 12 month high of $226.80. The company has a market cap of $17.75 billion, a price-to-earnings ratio of 21.90 and a beta of 0.91.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.06. The company had revenue of $384.30 million during the quarter, compared to analyst estimates of $381.85 million. VeriSign had a negative return on equity of 47.21% and a net margin of 55.04%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $1.70 EPS.

Insider Transactions at VeriSign

In other VeriSign news, EVP Danny R. Mcpherson sold 1,200 shares of VeriSign stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $170.14, for a total value of $204,168.00. Following the completion of the transaction, the executive vice president now directly owns 29,181 shares of the company’s stock, valued at $4,964,855.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Thomas C. Indelicarto sold 614 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $190.00, for a total transaction of $116,660.00. Following the transaction, the executive vice president now owns 41,955 shares in the company, valued at $7,971,450. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Danny R. Mcpherson sold 1,200 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $170.14, for a total transaction of $204,168.00. Following the sale, the executive vice president now owns 29,181 shares of the company’s stock, valued at $4,964,855.34. The disclosure for this sale can be found here. Insiders sold a total of 3,295 shares of company stock valued at $584,887 in the last quarter. 0.84% of the stock is owned by insiders.

VeriSign Profile

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.