VeriSign, Inc. (NASDAQ:VRSN) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems cut its stake in VeriSign, Inc. (NASDAQ:VRSN) by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,693 shares of the information services provider’s stock after selling 414 shares during the period. Kentucky Retirement Systems’ holdings in VeriSign were worth $1,268,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in VRSN. Raymond James & Associates raised its holdings in VeriSign by 8.2% in the fourth quarter. Raymond James & Associates now owns 25,062 shares of the information services provider’s stock valued at $5,162,000 after acquiring an additional 1,902 shares in the last quarter. Caprock Group LLC increased its stake in VeriSign by 26.1% during the fourth quarter. Caprock Group LLC now owns 1,593 shares of the information services provider’s stock valued at $328,000 after purchasing an additional 330 shares during the last quarter. Cigna Investments Inc. New bought a new stake in VeriSign during the fourth quarter valued at $201,000. First Citizens Bank & Trust Co. increased its stake in VeriSign by 7.8% during the fourth quarter. First Citizens Bank & Trust Co. now owns 15,051 shares of the information services provider’s stock valued at $3,100,000 after purchasing an additional 1,088 shares during the last quarter. Finally, Oak Thistle LLC bought a new stake in VeriSign during the fourth quarter valued at $2,491,000. 92.90% of the stock is owned by institutional investors and hedge funds.

VeriSign Stock Performance

Shares of VeriSign stock traded up $7.36 during trading on Friday, hitting $184.10. 1,328,546 shares of the stock were exchanged, compared to its average volume of 626,725. The stock’s fifty day moving average is $176.94 and its 200 day moving average is $185.13. The stock has a market cap of $18.34 billion, a PE ratio of 22.62 and a beta of 0.90. VeriSign, Inc. has a 12 month low of $167.04 and a 12 month high of $220.91.

VeriSign (NASDAQ:VRSN) last announced its earnings results on Thursday, July 25th. The information services provider reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.08. The firm had revenue of $387.10 million during the quarter, compared to analyst estimates of $385.80 million. VeriSign had a net margin of 55.40% and a negative return on equity of 48.07%. VeriSign’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.79 EPS.

Insider Activity at VeriSign

In other VeriSign news, Director Yehuda Ari Buchalter sold 866 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $170.01, for a total value of $147,228.66. Following the completion of the sale, the director now directly owns 3,661 shares of the company’s stock, valued at approximately $622,406.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other VeriSign news, Director Yehuda Ari Buchalter sold 866 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $170.01, for a total value of $147,228.66. Following the completion of the sale, the director now directly owns 3,661 shares of the company’s stock, valued at approximately $622,406.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Danny R. Mcpherson sold 1,200 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $170.14, for a total transaction of $204,168.00. Following the completion of the sale, the executive vice president now directly 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 2,067 shares of company stock worth $351,567 in the last 90 days. Corporate insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

VRSN has been the subject of several recent research reports. Citigroup lowered their target price on shares of VeriSign from $237.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. StockNews.com lowered shares of VeriSign from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th. Finally, Robert W. Baird restated a “neutral” rating and set a $200.00 price target on shares of VeriSign in a research report on Thursday, June 27th.

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.