Lbp Am Sa Cuts Stock Holdings in VeriSign, Inc. (NASDAQ:VRSN)

Lbp Am Sa reduced its stake in VeriSign, Inc. (NASDAQ:VRSN) by 37.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,420 shares of the information services provider’s stock after selling 2,681 shares during the quarter. Lbp Am Sa’s holdings in VeriSign were worth $838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of VRSN. Raymond James & Associates grew its position in VeriSign by 8.2% in the fourth quarter. Raymond James & Associates now owns 25,062 shares of the information services provider’s stock worth $5,162,000 after acquiring an additional 1,902 shares in the last quarter. Caprock Group LLC lifted its position in VeriSign by 26.1% in the 4th quarter. Caprock Group LLC now owns 1,593 shares of the information services provider’s stock worth $328,000 after buying an additional 330 shares during the last quarter. Cigna Investments Inc. New purchased a new stake in VeriSign in the fourth quarter worth approximately $201,000. First Citizens Bank & Trust Co. boosted its stake in VeriSign by 7.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 15,051 shares of the information services provider’s stock worth $3,100,000 after buying an additional 1,088 shares in the last quarter. Finally, Carderock Capital Management Inc. raised its stake in shares of VeriSign by 1.9% during the fourth quarter. Carderock Capital Management Inc. now owns 29,682 shares of the information services provider’s stock worth $6,113,000 after acquiring an additional 564 shares in the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on VRSN. StockNews.com lowered shares of VeriSign from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. Robert W. Baird reiterated a “neutral” rating and issued a $200.00 price objective on shares of VeriSign in a report on Thursday, June 27th.

VeriSign Stock Up 0.0 %

Shares of VeriSign stock traded up $0.03 on Friday, hitting $188.40. The stock had a trading volume of 237,305 shares, compared to its average volume of 673,744. The stock’s 50-day simple moving average is $178.04 and its two-hundred day simple moving average is $184.93. VeriSign, Inc. has a one year low of $167.04 and a one year high of $220.91. The stock has a market cap of $18.39 billion, a price-to-earnings ratio of 23.14 and a beta of 0.90.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, July 25th. The information services provider reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.08. The business had revenue of $387.10 million for 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 46.63%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.79 EPS.

Insider Activity at VeriSign

In other news, Director Yehuda Ari Buchalter sold 866 shares of VeriSign stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $170.01, for a total value of $147,228.66. Following the sale, the director now directly owns 3,661 shares in the company, valued at approximately $622,406.61. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Timothy Tomlinson 1,408 shares of the stock in a transaction that occurred on Monday, July 29th. The was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yehuda Ari Buchalter sold 866 shares of VeriSign stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $170.01, for a total value of $147,228.66. Following the sale, the director now directly owns 3,661 shares in the company, valued at $622,406.61. The disclosure for this sale can be found here. Insiders have sold a total of 5,751 shares of company stock worth $1,051,527 in the last 90 days. Company insiders own 0.84% of the company’s stock.

VeriSign Company 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.